GlaxoSmithKline's shareholders may be expecting less-than-stellar sales next year as generics take their toll on respiratory behemoth Advair. But they still have plenty to look forward to, CEO Andrew Witty reminded them on Thursday.
We have bad news and good news about patent expirations next year. The bad? When you tot up the billions of sales at risk of patent expiration in 2015, the result is $44 billion, the biggest number since the debacle of 2012. That year, $53 billion worth of drugs fell off patent--and many drugmakers are still reeling.
But in 2015, generics are expected to take a much smaller bite from the drugs losing exclusive access to their respective markets. That's because several of the big expiries involve biotech drugs. Even if biosimilar versions of these meds--Amgen's ($AMGN) Neulasta, for instance--do make it to market in the U.S. next year, their impact on sales is likely to be limited. According to EvaluatePharma, only $16 billion in sales will actually be lost to patent expiration next year. That's way less than half.
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As 2014 winds down, and Gilead Sciences keeps winding up hep C sales by the billion, AbbVie waits, vibrating with anticipation. Its three-drug cocktail is up for FDA approval any day now, and the Illinois-based company is ready to challenge Gilead for market share.
AstraZeneca scored European approval for its ovarian cancer-treating drug Lynparza (olaparib), expanding its cancer portfolio at a time when the company is trying to show investors that it's better off independent.
Armed with a $1.64 billion breakup fee from former merger partner AbbVie and a brand-new $2.1 billion revolving loan facility, Shire looks ready to strike a deal. Rumor says it's revisiting some of its old targets, including New Jersey's NPS Pharmaceuticals.
A far-reaching indictment against 14 New England Compounding Center (NECC) owners and employees not only accuses them of peddling unsterile drugs that infected hundreds of patients with fungal meningitis, but also includes 25 murder charges against two lead pharmacists.
GlaxoSmithKline rolled out data from a hefty Phase III study showing that its shingles-fighting candidate cut the risk of that disease by 97.2% in adults aged 50 and older, compared with placebo.
After winning top reviews from the Harvard Business Review for his 2014 performance, Gilead Sciences CEO John Martin has picked up a "best CEO" nod from a Tuck School of Business prof. And the investing site Motley Fool puts him among the year's three "most exceptional" corporate chiefs.
From Our Sister Sites
WuXi PharmaTech, China's largest CRO, is blueprinting forays into two of the hottest locales for U.S. R&D, planning to open offices in Boston and San Francisco.
PPD has signed a data-minded deal with the collection experts at ERT, a partnership the companies believe will help their clients conduct more efficient trials.