Pfizer and Mylan sign Japanese generics deal
pharmafile | August 23, 2012 | News story | Sales and Marketing | Mylan, Pfizer, generics
Pfizer and Mylan have struck a deal to sell generic drugs together in Japan, the world’s second biggest pharma market.
The agreement between the two US firms establishes a long-term collaboration to develop, manufacture, distribute and market generic drugs in Japan – financial details of the deal have not been disclosed.
Under the terms of the agreement, Pfizer will commercialise the combined generics portfolio, using its marketing expertise to drive sales.
Mylan’s responsibilities will primarily consist of managing operations, including R&D and manufacturing.
The collaboration will include a portfolio of more than 350 marketed products across a broad range of therapeutic categories, as well as more than 125 additional products in development.
Products included in the collaboration are expected to be sold under the Pfizer brand, but with joint labelling.
Mylan’s chief executive Heather Bresch, said: “We are very excited to have the opportunity to be partnering with Pfizer to build upon our existing assets and drive an even stronger, more sustainable generics business in Japan – one which will be well-positioned to take advantage of anticipated growth in generic utilisation in this market and other significant growth opportunities.
“We expect the collaboration with Pfizer to enhance the contribution of Japan to our overall business in the near- and long-term and provide exciting opportunities to our employees across all areas of the business in Japan.”
Japan is the second-largest pharma market in the world – behind the US – and the sixth largest generic retail prescription market worldwide, with sales of around $5.2 billion in 2011, according to IMS Health.
The Japanese market offers attractive growth prospects due to factors such as its ageing population, numerous impending drug patent expiries and a broad array of government initiatives aimed at reducing health care expenditures.
The Japanese government intends to grow the current volume of generic utilisation from approximately 24% to 30% by the end of 2012, making the deal especially lucrative for the companies.
Ben Adams
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