Ranbaxy Laboratories says it is back in the generic Lipitor game, having repaired its most recent manufacturing problems at a plant in India. Now it must also restart the process of repairing its reputation as a top generics manufacturer after yet another manufacturing foul-up and surprising analysts with an unexpected quarterly loss.
Ranbaxy Laboratories is back in the generic Lipitor saddle again. Three months after stopping production of the cholesterol fighter and recalling almost a half-million bottles, the Indian drugmaker says it is restarting production for the U.S. market.
A recall of generic Lipitor had already devastated Ranbaxy Laboratories' market share and entangled it in litigation. Now it has sparked a war of words between the Indian drugmaker and lawyers for consumers who say they were injured by products believed to have been tainted by glass particles.
Actavis, the former Watson Pharmaceuticals, said its fourth-quarter earnings paled by comparison to a year ago when it first released an official generic of Lipitor.
India's Ranbaxy Laboratories' manufacturing problems have devastated its share of the U.S. generic Lipitor market. On top of that, an expanded lawsuit in New Jersey seeks to have the drugmaker recall all of the drug that it has in the U.S.
Pfizer ($PFE) racked up a 46% increase in full-year profits. But its sales fell 10%. How so? Pfizer's sale of the nutrition business, which went to Nestle for $11.85 billion, helped boost reported net income to $14.57 billion.
While FiercePharma 's newsletter went on hiatus over the winter holidays--and industry news slowed to a pace suitable to hibernation-friendly weather--we didn't spend all our time skiing and drinking cocoa. Some certifiably big news broke last week. Here are several holiday highlights.
It is another swing and a miss for Mylan. Twice now it has struck out in efforts to snatch away from Ranbaxy Laboratories the Indian drugmaker's 180-day exclusivity on a drug.
It's the end of the year, and the end of the road for hundreds of Pfizer drug reps. The company is slashing its primary-care sales force by almost 20%, Bloomberg reports, taking its 3,000-strong army of reps down to around 2,400.
By the time the ball drops in Times Square this year, branded drug sales will have dropped 3.5%. So says a new report on U.S. spending, which pegs this year's decline at that rate--and forecasts an annual decline of 2.6%, on average, over the next several years.