Pharma News
Ranbaxy to pay FDA to end impasse on manufacturing ban
Daiichi Sankyo hopes that its interventions may lead to a lift of the FDA’s import ban on 30 products from Ranbaxy, its Indian generic drugs arm.
Sun Pharma blocks Wockhardt settlement
Troubled generics’ firm Wockhardt is set to raise US$100 million via its foreign currency convertible bonds (FCCBs). However, fellow Indian generics’ manufacturer, Sun Pharma, has objected to the deal, amongst much speculation as to what Sun Pharma’s intentions are.
Teva increases its global position with acquisition of Ratiopharm
Generics are becoming an increasingly lucrative market with good prospects for the future. However, a report by US market data provider BCC Research shows that this is also a bit of an exclusive club. The top four global generics manufacturers in 2009 – Teva, Sandoz, Mylan and Watson – accounted for 40% of the world market.
The global generic medicines market
The global market for generic drugs was worth an estimated US$84 billion for 2009 and is expected to increase to a staggering US$168.7 billion by 2014.
Generics’ manufacturer Hospira merges with Javelin
On 22 June 2010, Hospira announced that it had successfully acquired 79% of the stock in Javelin Pharmaceutical’s. The merger agreement also allows for Hospira to exercise a ‘top-up’ option to increase its share ownership in Javelin, which, states Hospira, it fully intends to do.
Sanofi-aventis and Nichi-Iko announce joint venture for generics in Japan
Sanofi-aventis and Nichi-Iko Pharmaceutical Co., Ltd. (Nichi-Iko) have announced that they have signed an agreement to establish a new joint venture, called sanofi-aventis Nichi-Iko KK, in order to develop a generic business in Japan.
Orchid acquires US generic sales and marketing company Karalex
On 10 June 2010, Indian-based generics manufacturer, Orchid Chemicals & Pharmaceuticals (Orchid) announced that it had entered into an agreement to acquire Karalex Pharma, LLC, a US-based generic marketing and sales services company with headquarters in New Jersey, USA.
GSK acquires Argentine generics’ maker Laboratorios Phoenix
On 10 June 2010 GlaxoSmithKline (GSK) acquired Laboratorios Phoenix, a leading Argentine pharmaceutical business, for approximately US$253 million. GSK will gain full ownership of Phoenix in a move to accelerate sales growth and further extend its pharmaceutical portfolio in Argentina and the Latin America region.
Abbott acquires Indian generics’ maker Piramal Healthcare
The US-based company, Abbott, agreed to buy the domestic unit of Piramal Healthcare, one of India’s biggest generics makers, for US$3.7 billion.
EGA welcomes MEPs decisions on falsified medicines and pharmacovigilance reports
On 27 April 2010, ENVI (The Committee on the Environment, Public Health and Food Safety) of the European Parliament voted to adopt reports on both falsified medicines and pharmacovigilance. The measures included in these reports are intended to increase patients’ safety. This can only be good news for the generics sector, as this should result in increased consumer confidence and as a result encourage acceptance and increase sales of generics.
