Company name: Greenstone
Location: Peapack, NJ
Annual sales (in millions): $1.721
Market share: 5.4%
Head: David Simmons, president, Pfizer's established products business unit
Pharma giant Pfizer has been turning out generics for a while through its Greenstone subsidiary. Pfizer got Greenstone through its April 2003 acquisition of Pharmacia, and the generics unit's operation began to increase the number of drugs it sold last year, when CEO Jeff Kindler formed a business unit headed by David Simmons with its own budget and management focused on products that have lost patent protection, Bloomberg notes. Greenstone manufactures and distributes generic versions of many Pfizer medicines, including several injectables. It also distributes non-Pfizer medicines through agreements with other pharmaceutical companies such as India's Aurobindo.
The established products business unit portfolio contains more than 600 products spanning a wide range of therapeutic areas. Pfizer's global sales of established products are more than $10 billion annually.
While announcing quarterly results earlier this month, Kindler said the company expects new product launches in the EPBU. Products in this unit include Arthrotec, Effexor, Medrol, Norvasc and Relpax.