Just four months after closing its $1.75 billion acquisition of Agila Specialities, generic drug maker Mylan is eyeing another takeover candidate--Sweden's Meda AB. Pennsylvania-based Mylan is talking with advisers about a takeover bid that could be made at a "significant premium" to Meda's $4.5 billion market value, according to sources quoted by the Financial Times.
The FDA says it wants to level the playing field by having generic drugmakers independently update drug labels when there are known risks to the products. The industry feels as if it is being nudged off a cliff.
GlaxoSmithKline's asthma behemoth Advair may be losing ground in Europe, but a legal win may stop some of the bleeding--at least in Germany. The British pharma giant has obtained a preliminary injunction there to stop Novartis' Sandoz from hawking its generic, AirFluSal Forspiro, thanks to the inhaler's purple color.
AstraZeneca is staring down the barrel of its Nexium patent loss, but it's doing its best to dodge the bullet. In a bid to keep patients hooked on the branded version of that purple pill, the company will sell Nexium to them directly--and at a discount.
One of Pfizer's top-selling products is suddenly vulnerable to generic competition 18 months earlier than expected. A U.S. court nixed a key Celebrex patent, putting the pain drug up for a sales fight in May. And generics makers Mylan and Actavis are promising to launch their versions as soon as Pfizer's monopoly expires.
AstraZeneca may get lucky with Nexium. That's thanks to the embattled Ranbaxy Laboratories, the Indian generics maker that could launch a copycat version May 27.
The largest drugstore chains have been in a legal battle with Pfizer, accusing it of conspiring to keep generics of its antidepressant Effexor XR out of their stores for years. Now they will have to deal with losing some of the real thing. Pfizer is recalling three lots of the drug after a pharmacist discovered a capsule of one of Pfizer's heart pills in an Effexor XR bottle, a potentially fatal combo.
Teva Pharmaceutical Industries is trying to throw up yet another hurdle to a generic version of its blockbuster multiple sclerosis drug Copaxone from India's Natco Pharmaceuticals.
Generic drug companies are fighting back against a new FDA proposal that would require them to update product labeling as soon as they learn of new safety information. The rule would essentially overturn a 30-year-old law--and put companies on the hook for liability lawsuits.
In an effort to get itself into a place where it can again ship from its FDA-approved plants in India, Ranbaxy Laboratories says it is taking a hard look at how it runs its API operations.