Greenstone Portfolio of Generic Medicines Expands Through Licensing Agreements
Pfizer Inc has announced that it has entered into a series of agreements with Aurobindo Pharma Ltd, a pharmaceutical company based in India, to commercialize medicines that are no longer patent protected, and have lost market exclusivity in the United States and Europe, further progressing its Established Products Business Unit strategy. Pfizer’s Established Products Business Unit, focused on the commercialization of products where market exclusivity has been lost, was launched in 2008 as part of the company’s initiative to create smaller, more accountable business units aligned with customer needs. Currently, Pfizer’s Established Products Business Unit has annual sales of $10 billion globally.
Broad Medicine Range
Under the terms of the agreements, Pfizer has acquired rights to 39 generic solid oral dose products in the United States and 20 in Europe, plus an additional 11 in France. These medicines cover a broad range of therapeutic areas including cardiovascular disease and central nervous system disorders, and will be commercialized in the United States through Pfizer’s Greenstone subsidiary.
Pfizer has also acquired rights to 12 sterile injectable products in the United States and Europe. These medicines are antibiotics including penicillins and cephalosporins.
“We will dramatically change Pfizer’s Established Products portfolio to an engine of positive growth. These agreements represent solid, measurable progress, and a strong commitment to achieve our growth objectives,” said David Simmons, president and general manager of Pfizer’s Established Products Business Unit.
High-Growth Product Category
The global nonexclusive market represents about $270 billion with solid oral dose products representing the largest drug category. This category is anticipated to continue its rapid increase in market share and has an estimated growth potential of over $500 billion within the next 5 years.
“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 powerful portfolio. 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 Mr. Simmons.
These agreements are an expansion of a 5-product US deal that Pfizer and Aurobindo entered into in July 2008. Together, the 2 transactions bring 44 solid oral dose products to Pfizer’s diversified existing portfolio of established brands in the United States that are or will be marketed by Greenstone.
For more information, visit www.GreenstoneLLC.com.
Michael E. Sweitzer, Vice President
Deals broaden Pfizer’s Established Products Business Unit and Greenstone LLC portfolios to deliver affordable quality off-patent medicines to patients.