Forest Laboratories is in dire need of a Bloody Mary for its still-severe Lexapro hangover. The U.S.-based drugmaker fell short of low expectations for the third quarter, thanks to a 41% drop in sales, largely because of generic competition for the blockbuster antidepressant. And the company ratcheted back predictions for its full-year results.
AstraZeneca ($AZN) chalked up a win in its fight to preserve Crestor's patent protection. A U.S. Appeals Court upheld the cholesterol drug's key patent, in a ruling that would stave off generic competition till 2016.
The U.S. Supreme Court will decide once and for all whether paying generic competitors to hold off on entering the market is legal. Or then again, maybe not.
The drug companies say it's a safety issue. The generic competition, though, says it's about economics.
The big news in generic drugs in the last couple of years has been all of the marquee brands that are getting their tails kicked by generic competition. The best example is the loss of the patent on...
Just three months after quietly snuffing its late-stage development program for the cholesterol combo MK-0524B, Merck has once again quietly doused development efforts on a new cholesterol therapy. MK-0431E, once in line for a 2014 regulatory filing, was killed for unspecified business reasons, according to Dow Jones.
Given that generics come in at huge discounts, we were pondering: What kinds of drugs can reach blockbuster-sized sales as generics? We present 5 such drugs here, and even throw in a bonus track, a sixth drug that in 8 months of sales came in close enough to the billion-dollar certifier that we thought we would include it for reference.
Once again, Europe is dragging GlaxoSmithKline down. And this time, the drag was worse than expected: Sales in the region dropped by 9%. Together with a 6% decline in U.S. sales on generic competition, that was enough to push overall revenues down by 5%, to £6.54 billion, or $10.3 billion.
Thank you, Xarelto, Mirena, Cipro and friends. On the strength of these fast-growing products, Bayer's pharma division out-grew its other businesses, with a gain in net sales of 6.1%, to €2.73 billion ($3.545 billion).
Vivus has won an early weight-loss race in the marketplace. The company launched its Qsymia treatment, beating competitor Arena Pharmaceuticals' Belviq by several months. But will it come out on top in the most important one--the contest for prescriptions and sales?