So many CEOs, so little space. To bring you the most J.P. Morgan Healthcare Conference news as possible, we've rounded up some choice nuggets from executive presentations. Here's what higher-ups from Pfizer, Hospira, and more had to say.
- Pfizer ($PFE) chief Ian Read pegged Lipitor's current U.S. market share at 37% to 38%, now that it's competing with generic versions from Ranbaxy Laboratories (independent) and Watson Laboratories (authorized). Pfizer has been working hard to keep as much Lipitor business as possible, offering discounts to everyone from patients to employee-sponsored health plans. The company was aiming for 40%, at least till more generics hit in June. "We're basically where we expected to be," Read said optimistically (as quoted by Dow Jones). News
- Injectables supplier Hospira ($HSP) is fighting off the "gators" that have surfaced as it delves into ongoing manufacturing problems, CEO Michael Ball said. The company has been dealing with regulatory pressures, recalls, and product shortages for months. It's still "a bumpy road" forward, as the company negotiates fixes with the FDA, Ball said (as quoted by in-Pharma Technologist), but so far, the agency hasn't raised the prospect of a consent decree. Item
- Bristol-Myers Squibb ($BMY) chief Lamberto Andreotti says the company's "string-of-pearls" approach is paying off—and more pearls are on their way. "Business development remains our top priority," Andreotti said (as quoted by The Boston Globe). Meanwhile, new drugs like the melanoma drug Yervoy and clot-fighter Eliquis, developed in concert with Pfizer, already are boosting sales, and $2.5 billion in cost cuts are bolstering profit. Article
- Watson Pharmaceuticals ($WPI) CEO Paul Bisaro says he's out shopping. The company is looking at buying a generic or brand-name drugmaker, Bisaro said. "Our appetite for a larger transaction, it's there," Bisaro said (as quoted by Bloomberg). The company wants to expand internationally, and it's looking to build up its branded-drug business, which could have a "breakout year" this year, Bisaro told Dow Jones. News | Report