Pharma News
Teva – a moving target
Teva Pharmaceutical Industries has grown rapidly since the forerunner of today’s firm was born in 1976. It has achieved its vision of becoming the world’s number one generics manufacturer, or as it puts it ‘its commitment to providing consumers with access to high-quality, affordable medicines’. It takes a great many legal wrangles and much forward planning to maintain this position.
China to power global generics development
Analysts estimate that China will overtake France and Germany as the world’s third-largest prescription medicines market in 2012, trailing only the US and Japan.
The latest on healthcare austerity in Greece
Greece is seeking to save approximately Euros 900 million a year and reduce the share of gross domestic product accounted for by healthcare spending from more than 10% in 2008 to under 6%. To help to achieve this, the maximum price of generic drugs will be set at no more than 60% of the originator product’s price, rather than 72% as originally proposed in September 2010.
Hikma buying into the US market
Hikma is buying some of Baxter’s injectable products that are sold primarily in the US, including chronic pain, anti-infective and anti-emetic products, along with the Cherry Hill manufacturing facility and the Memphis warehouse and distribution centre. Approximately 750 employees will also transfer as part of the arrangement.
Caraco and Sun to merge
Caraco Pharmaceutical Laboratories announced on 22 February 2011 that it had entered into a merger agreement with generics manufacturer Sun Pharmaceutical Industries and its wholly-owned subsidiary Sun Pharma Global.
FDA rejects second citizen petition for Teva’s glatiramer acetate drug
Teva Pharmaceutical Industries’ glatiramer acetate drug (Copaxone) is indicated for reduction of the frequency of relapses in patients with Relapsing-Remitting Multiple Sclerosis.
Mylan in and out of hot water
On 26 January 2011 Mylan, the second-largest US generics manufacturer, announced a truce with global pharma giant Pfizer, which will enable the former to sell generic versions of the cholesterol drug Lipitor (atorvastatin) and combination blood pressure and cholesterol treatment Caduet (amlodipine/atorvastatin).
Valeant acquires generics’ manufacturer PharmaSwiss
Valeant Pharmaceuticals International and PharmaSwiss announced on 1 February 2011 that they had signed a binding agreement for Valeant to acquire generics’ manufacturer PharmaSwiss for Euros 350 million. Valeant expects the deal to strengthen its presence in Central and Eastern Europe.
Rights to Allegra acquired by generics’ manufacturer Perrigo
On 29 June 2010, Perrigo announced that it had acquired the exclusive US rights to sell and distribute OTC versions of Fexofenadine HCl 180 mg and 60 mg tablets, plus Fexofenadine HCl 60 mg and Pseudoephedrine 120 mg tablets, the generic versions of sanofi-aventis’ Allegra and Allegra D-12 products. Teva Pharmaceutical Industries currently has prescription (Rx) approval for these products, and Teva and sanofi-aventis have settled their Paragraph IV litigation.
Perrigo buys Paddock for US$540 million
Perrigo Company may not be a household name, but nevertheless life is exciting for a medium-sized company in the pharmaceuticals world. Undeterred by a pending FDA warning letter about its Michigan facility, Perrigo recently entered into a definitive agreement to take over Paddock Laboratories in a cash deal worth Euros 394 million.
