Pfizer and Mylan sign generics deal in Japan
Will include a portfolio of more than 350 marketed products, as well as 125 in development
Pfizer and US generic drugs specialist Mylan are to establish a long-term strategic collaboration to develop and market generic drugs in Japan.
Pfizer and Mylan will each continue to operate independent entities in Japan, but will collaborate on current and future generic products, sharing the costs and profits resulting from the collaboration, the companies said.
The financial terms of the agreement were not disclosed.
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. The firms said the products would be sold ‘under the strong Pfizer brand with joint labelling’.
Pfizer will market the combined generics portfolio, while Mylan will manage r&d and manufacturing.
Albert Bourla, president and general manager of Pfizer’s Established Products Business Unit, said: ‘We believe this collaboration will enable both companies to build effectively upon each other's core capabilities to help meet the needs of more patients and customers in Japan than ever before.’
Mylan's ceo, Heather Bresch, added: ‘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.’
Japan is the second-largest pharmaceutical market in the world, behind the US, and the sixth largest generic retail prescription market worldwide, with sales of approximately US$5.2bn in 2011, according to IMS Healthcare.
Pfizer and Mylan say the Japanese market offers attractive growth prospects due to its ageing population, numerous impending drug patent expiries and a broad array of government initiatives aimed at cutting healthcare expenditure. The Japanese government aims to boost generic use from approximately 24% to 30% by the end of 2012.