Novartis' generic division, Sandoz, is having to recall one lot of its generic version of Novartis' blood pressure drug Atacand, but it is a copy that it does not manufacture itself. The drug is made in India by Mylan.
Look out, Pfizer--the generics are here. On Wednesday, Teva and Mylan both launched versions of the company's arthritis med Celebrex, meaning Pfizer is about to watch the sales decline of yet another blockbuster.
U.S. drugmaker Mylan, Germany's Stada, India's Dr. Reddy's Laboratories and Unichem Laboratories are among 16 drugmakers who have had dozens of generic meds sidelined by German regulators who raised questions about bioequivalence tests.
Mylan is charging full speed ahead with its $5.3 billion acquisition of Abbott Laboratories' overseas generics business. The drugmaker will shell out $32.5 million to 5 of its top executives ahead of schedule to avoid a tax penalty meant to discourage companies from shifting their domicile abroad.
As Mylan gears up to close a $5.3 billion deal to buy a chunk of Abbott's generics business and shift its tax base to the Netherlands, some investors are speculating it could itself become a target for another stateside company looking for a tax inversion. But to that, Sanford Bernstein analyst Tim Anderson says they shouldn't hold their breath.
Stung while checking out A Bug's Land? Accidentally eat some peanuts while riding Dumbo the Flying Elephant? Those with severe allergies needn't worry: At Walt Disney Parks and Resorts, Mylan is putting EpiPen on the map. Literally.
Pfizer execs can sigh with relief now that a federal court has backed the company's patents on kidney cancer drug Sutent. The med has become increasingly important to Pfizer as sales of off-patent drugs have faded, and so it was alarming to the U.S. drugmaker when generics maker Mylan challenged the patent in 2010 and filed to make its own copy.
A few potential deals have already caved under the weight of new U.S. tax rules that discourage inversion deals. Not Mylan's. The Pittsburgh-based company is pushing ahead with a $5.3 billion plan to buy a piece of Abbott Laboratories' overseas generics business--with a few edits, of course.
Another drugmaker is having to recall metoprolol succinate extended release tablets, a generic for AstraZeneca hypertension drug Toprol XL. This time it is Mylan and the recall is for nearly 16,000 bottles of the beta blocker.
Teva and Mylan merge? Rumors are certainly swirling--and not for the first time, either. But while a potential deal might make financial sense, at least one analyst doesn't see it happening.