Pfizer expands product deal with Indian generic company
pharmafile | March 5, 2009 | News story | Sales and Marketing | Asia, India, Pfizer, generics
Pfizer has linked up with Indian drug manufacturer Aurobindo Pharma to expand its portfolio of generic medicines in the US and Europe.
The pair have signed a series of licensing deals which will see Pfizer commercialising a number of off-patent products.
The deals follow on from a five-product US agreement signed by Pfizer and Aurobindo in July last year.
The companies are tightlipped over the costs involved but Pfizer already generates $10 billion in global sales through its 'established products' business unit.
"We will dramatically change Pfizer's established products portfolio to an engine of positive growth," said the unit's president and general manager David Simmons.
"These agreements represent solid, measurable progress, and a strong commitment to achieve our growth objectives."
Under the terms of the agreements signed by the two companies, Pfizer has acquired rights to 39 solid oral dose products in the US and 20 in Europe. It also has another 11 in France.
All have lost market exclusivity and cover a broad range of therapeutic areas including cardiovascular disease and central nervous system disorders.
Pfizer's move is aimed at taking a greater chunk of the $270 billion global generics market. It is a particularly timely deal because US president Barack Obama has already pledged to increase imports of generics in a bid to address the costs of healthcare and prescription drugs.
Solid oral dose products are the largest category of generics, although Pfizer has also acquired the rights to 12 sterile injectable antibiotics including penicillins and cephalosporins.
"Going forward, Pfizer plans to expand the established products business unit's product portfolio through additional activities with Aurobindo and other companies to provide our customers with a wider product offering," said Simmons.
The unit itself was launched last year as part of a drive by Pfizer to create more nimble, accountable commercial entities able to serve changing customer needs.
Pfizer says creating affordable, quality medicines is the key to future growth and its Greenstone subsidiary will commercialise all products in the US.
Pfizer now has 44 solid oral dose products among its established brands in the US.
The manufacturer says the category as a whole has an estimated growth potential of over $500 billion within the next five years.
Founded in 1986, Aurobindo's products are now available in more than 100 countries.
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