Pfizer Expands Portfolio of Generic Medicines in the U.S. and Europe

Pfizer IncPfizer Inc (NYSE: PFE) announced today 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.

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 U.S. 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 & general manager of Pfizer's Established Products Business Unit.

The global non-exclusive 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 five 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 a 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 five-product U.S. deal Pfizer and Aurobindo 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.

Financial terms were not disclosed.

About Pfizer
Pfizer Inc., founded in 1849, is dedicated to better health and greater access to health care for people and their valued animals. Every day, colleagues in more than 150 countries work to discover, develop, manufacture and deliver quality, safe and effective prescription medicines to patients.

About Aurobindo
Aurobindo, founded in 1986, is a leading generic pharmaceutical company serving consumers in more than 100 countries.

Most Popular Now

Pfizer and BioNTech complete submission to Europea…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced they have completed a submission to the European Medicines Agency (EMA) for an Omicron-adapted biva...

AstraZeneca to acquire TeneoTwo and its clinical-s…

AstraZeneca announced an agreement to acquire TeneoTwo, Inc. (TeneoTwo)i, including its Phase I clinical-stage CD19/CD3 T-cell engager, TNB-486, currently under evaluatio...

Bayer to sell men's health product Nebido™ to Grün…

Bayer and Grünenthal have entered into a definitive agreement regarding the sale of Bayer's men's health product Nebido™ (testosterone undecanoate), for a purchase price ...

Demonstration of a potent, universal coronavirus m…

The SARS-CoV-2 that causes COVID-19 has killed 6.3 million people worldwide since 2019, painfully highlighting the vulnerability of humanity to novel coronaviruses. Re...

Pfizer and BioNTech advance COVID-19 vaccine strat…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced that the companies have initiated a randomized, active-controlled, observer-blind, Phase 2 study to...

New needle-free nasal vaccine shows promise for CO…

New research shows that a needle-free mucosal bacteriophage (phage) T4-based COVID-19 vaccine is effective against SARS-CoV-2 infection. The findings were published in mB...

SARS-CoV-2 hijacks nanotubes between neurons to in…

COVID-19 often leads to neurological symptoms, such as a loss of taste or smell, or cognitive impairments (including memory loss and concentration difficulties), both dur...

Anti-inflammatory compound shows potential in trea…

An anti-inflammatory compound may have the potential to treat systemic inflammation and brain injury in patients with severe COVID-19 and significantly reduce their chanc...

Vaccine-induced immune response to omicron wanes s…

Although COVID-19 booster vaccinations in adults elicit high levels of neutralizing antibodies against the Omicron variant of SARS-CoV-2, antibody levels decrease substan...

Scientists develop new biomimetic formulation for …

Glioblastoma multiforme (GBM) is an aggressive brain cancer with a poor prognosis and few treatment options. New and effective approaches for GBM treatment are therefore ...

Disparities in United States COVID-19 vaccine dist…

When reports showed COVID-19 vaccination rates were lower among racial/ethnic minority groups, most discussions focused on mistrust and misinformation among these populat...

GSK signs agreement to support pandemic preparedne…

GSK plc (LSE/NYSE: GSK) announced it had signed a framework contract with the European Commission's (EC) Health Emergency Preparedness and Response Authority (HERA) for t...