Stockholm's stock exchange slapped local drugmaker Medivir for violating disclosure rules. The fine is 384,000 Swedish kronor, or about $58,750. So, the penalty itself doesn't make this infraction worth talking about--but the rationale behind it does.
In a way, the coming year isn't a big one for patent expirations. The total amount of sales jeopardized by patent expirations is $34 billion. That's more than the $28 billion this year, but far less than the $55 billion that hit in 2012. As for 2015? Forget about it. That year, products worth $66 billion will lose IP protection.
Plus, the drugs facing new competition won't all take a big hit in 2014. In fact, EvaluatePharma figures that the products newly open to generic competition will only lose $13 billion off their previous totals.
But if you're one of the companies looking at sudden exposure to would-be copycats, 2014 might be a very big year indeed. Check out the report >>
The Hatch-Waxman Act shook up the generic drugs business in 1984, and almost 30 years later, it's safe to say the law had its desired effect. About 84% of the 4 billion prescriptions written each year are for generic drugs, saving patients and government programs billions of dollars a year. In other words, generic drugs are big business. And with a slew of blockbuster brands now off patent, it's a big business with growing pains.
As companies bulked up to take on copies of the world's best-selling drugs, a wave of mergers has swept the industry. Many credit Actavis CEO Paul Bisaro with starting that trend; then the Watson CEO, his 2012 takeover of Actavis sent a clear message of "go big or go home" reverberating throughout the generics business. Actavis hasn't stopped scouting for deals, and many of its peers have followed suit.
Peruse the Top 10 to find out how these trends and market forces are shaping the industry's biggest players--and vice versa. Read the report >>
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Cymbalta is going down. The question for Eli Lilly is how fast and how far. Last evening, the FDA approved more than a half-dozen generic versions of Cymbalta, the antidepressant that's now Lilly's top-selling drug.
India's Elder Pharmaceuticals, which a host of Western drugmakers were rumored to be interested in, will remain Indian owned. Torrent Pharmaceuticals will acquire the domestic business of Elder, relieving its debt situation and satisfying critics of growing foreign ownership of Indian drugmakers.
Bristol-Myers Squibb agreed to license its HIV fighter Reyataz (atazanavir) to the Medicines Patent Pool, which will allow generics makers to turn out cheaper copies for sale in poor countries.
The FDA approved a powerful new painkiller from Zogenix despite opposition from its own advisory panel. Now, attorneys general from 28 states have jumped in to ask the agency to reconsider.
It's well-documented that antibiotic resistance is a growing public health threat. Drug-resistant bacteria infect about 2 million Americans a year, causing at least 23,000 deaths, according to CDC data. Now, to keep resistance from mounting, the FDA is rolling out a plan to cut down on antibiotics use in livestock, enlisting the drugs' producers--companies like Eli Lilly and Zoetis--to help them do it.
A slimmed-down Merck KGaA shook up its management structure in September to focus on emerging markets, biosimilars and its allergy business. Today, it announced a €40 million investment that moves it along on two of those three fronts.
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