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.
With its designs on AstraZeneca at least temporarily abandoned, Pfizer has set out to create an immuno-oncology portfolio of its own, signing a deal with a Belgian biotech to get its hands on treatments that promise to sharpen the body's anticancer weaponry.
Pfizer is the latest pharma heavyweight to get behind the promise of gene therapy, as the New York drugmaker has laid out plans to set up a dedicated R&D operation and signed a deal with startup Spark Therapeutics to kick-start the effort.
About 1.5 million Americans suffer from familial hypercholesterolemia, an inherited disease that leads to dangerously high cholesterol, and they're likely to be the first targets for a new class of drugs that promise to bring in blockbuster sales.
With a months-long hostile pursuit from Valeant and failed talks to buy North Carolina's Salix, Allergan had already been on an M&A roller coaster this year before finally agreeing to sell itself to Actavis last month. And options traders, for one, are afraid the ride's not over yet.
As drug prices climb and expensive newcomers inspire payers to get creative to contain costs, a window is widening for meds that can drive efficiency for healthcare systems and address consumers' needs. That's where biosimilars come in--or so Pfizer figures.
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.
Biosimilars are in high demand, and Pfizer is looking to cash in on the trend with copycat meds that drive efficiency for healthcare systems and address consumers' needs, Diem Nguyen, general manager of Pfizer's Biosimilars, told FiercePharmaMarketing.
In biotech, here are the top 10 news stories of the year so far, based on web traffic.
Pfizer's partnership with German counterpart Merck KGaA for $850 million upfront, plus as much as $2 billion in milestones, improves the prospects of PD-L1 and PD-1 checkpoint inhibitors in the oncology space, to the excitement of developers of combination therapies to the class of medicines, which feature both biological and mechanical mechanisms.