Agreement will help counteract anticipated falling sales as patents expire.!--h2>
To offset the loss of market exclusivity for its lead product, Lipitor, Pfizer has obtained a slew of generic drugs from Aurobindo Pharma for marketing in the U.S. and Europe. The medications will become a part of the firm’s established products business unit, which last year had sales of $10 billion, about as much as Lipitor makes on its own.
Pfizer acquired rights to 39 generic solid oral-dose products for sale in the U.S.; 20 of those will be sold in Europe and 11 specifically in France. These medicines cover a range of therapeutic areas including cardiovascular disease and central nervous system disorders. Pfizer also gained 12 sterile injectable products in the U.S. and Europe. These are antibiotics including penicillins and cephalosporins.
The established products segment was launched in 2008 as a strategy to create smaller, more accountable business units. “Established products has the benefit of Pfizer’s strong brand recognition, track record of proven efficacy and safety, broad and deep commercial infrastructure around the world, and a powerful portfolio,” explains David Simmons, president and GM, established products business unit.
“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.”
These agreements with Aurobindo are an expansion of a five-product U.S. deal entered into in July 2008. Together, the two transactions bring 44 solid oral-dose products to Pfizer’s diversified existing portfolio of established brands in the U.S.