Pfizer Expands Generics Portfolio in India
Wed, 05/20/2009 - 4:49am
Pfizer Inc. has entered into licensing agreements with two pharmaceutical companies based in India, strengthening its position in emerging markets and significantly expanding its portfolio of medicines in its Established Products Business Unit. Off-patent medicines, including branded generics, represent one of the fastest growth segments in the global pharmaceutical market. This is especially true in emerging markets where costs and access are primary drivers of off-patent medicine growth. "Today's announcement demonstrates Pfizer's commitment to improving the global public health landscape by making needed quality medicines - in a range of disease areas - accessible to underserved populations worldwide," said Jeff Kindler, chairman and CEO of Pfizer. "The off-patent marketplace worldwide too often suffers from quality and supply reliability issues. With our broad established medicines portfolio and our world-class manufacturing capabilities, Pfizer is in an ideal position to supply high-quality medicines at affordable prices to people around the world." Emerging Markets: Reaching New Patients Pfizer's expanded agreements with Aurobindo Pharma Ltd. will grow its product portfolio within emerging markets to reflect the diverse and often unique market dynamics and commercial interests of more than 70 countries. "This deal illustrates the types of innovative partnerships which will help to advance Pfizer's presence in developing markets and enhance access to needed medicines for billions worldwide," said Jean-Michel Halfon, president and general manager of Pfizer's Emerging Markets Business Unit. "The expansion of our product portfolio from this deal provides a foundation for us to commercialize branded generics based on patient needs within specific regions." Under the terms of the agreement, Pfizer has acquired rights to 55 solid oral dose products and 5 sterile injectable products for patients in more than 70 emerging market countries. These medicines include antibiotics and anti-infectives, and cover a broad range of disease areas like cardiovascular and central nervous system disorders. Pfizer will commercialize the 60 products in phases tailoring its approach for different regions. Financial terms of the deal were not disclosed. Developed Markets: Expanding Generic Offerings Pfizer entered into agreements with Claris Lifesciences Ltd. ("Claris") to commercialize sterile injectable medicines after the products are no longer patent protected, and have lost market exclusivity in North America, Europe, Australia and New Zealand. The Claris agreements advance Pfizer's Established Products strategy, which focuses on the commercialization of products where market exclusivity has been lost. Pfizer's global annual sales of established products are approximately $10 billion. Under the terms of the agreements, Pfizer has acquired rights to 15 injectable products covering a broad range of therapeutic areas including anti-infectives and pain. Financial terms of the deal were not disclosed. "These agreements advance our goals to expand our steriles portfolio and provide hospitals and patients with a wide offering of affordable medicines they can trust. Pfizer's reputation for high quality and supply reliability is unrivaled in the industry, and this is critical in the area of sterile injectables," said David Simmons, president and general manager of Pfizer's Established Products Business Unit. Pfizer also expanded agreements with Aurobindo in developed markets, adding products in the US and Europe. To date, 128 non-Pfizer products - 98 solid oral dose and 30 sterile injectables - have been added to the Company's existing diversified portfolio of established brands.