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...As well as proceeds from its Covid products, Pfizer has also benefited from the spin-off of its Upjohn generics business, which combined with Mylan to form Viatris in late 2020....
...The Swiss pharmaceuticals group is following many rivals to focus its operations on higher-value innovative treatments rather than the cheaper off-patent drugs made by Sandoz, including generic versions...
...Gilead told the FT that in India the price of the drug and the terms of supply are negotiated by the US company Viatris, previously also known as Mylan, which holds the marketing authorisation for AmBisome...
...Rivals AstraZeneca, Johnson & Johnson, Russia’s Sputnik V and new entrants such as Novavax make up the remainder of the market, which is forecast to double in value to $124bn next year....
...“Africa is a key market for Sputnik V,” said the Russian Direct Investment Fund, a Kremlin-run wealth fund overseeing Sputnik V’s foreign sales....
...Results and forecasts exclude its Upjohn unit, as Pfizer closed the transaction to merge the generics business with Mylan during the quarter....
...Mylan, which makes a generic version of Truvada, pays royalties for some its sales to the CDC. When the generic market forms in the US, it said, it will continue to do so....
...After such strong reads from the first two releases (three if we count Russia’s Sputnik V), the disappointing AZN figures were perhaps bound to prompt downward pressure on the company’s shares....
...Mylan, a US-based generics maker, has restarted production of hydroxychloroquine at its West Virginia plant and is looking to increase manufacturing outside of the US too....
...In August, Russia became the first country to approve a Covid-19 vaccine — named Sputnik V — for civilian use, but western experts cast doubt on its efficacy and safety....
...In mid-afternoon trading in New York, shares in Mylan, which is in the process of merging with Pfizer’s generics business Upjohn, were up 2.6 per cent to $22.83....
...If there is a sense from this earnings season that confidence in a V-shaped recovery for profits is misplaced, then the impact will probably be hardest on companies with weak balance sheets, and on those...
...Teva, Mylan and others in the lawsuits have denied wrongdoing....
...The deal with Mylan is similar. Here, however, Pfizer is spinning off Upjohn and then combining it with all of Mylan....
...Idexx said in October that the animal health market had experienced a “V-shaped recovery”....
...Merck is the latest pharmaceutical company to try to streamline its business to focus on higher-growth — and usually higher-priced — drugs....
...Last quarter, the company said sales of its multiple sclerosis drug were worse than expected, and it failed to received approval to make a generic version of Advair, an asthma medicine developed by UK pharmaceutical...
...Pfizer has reached a deal to spin off its Upjohn unit and combine it with generics drugmaker Mylan to create an off-patent pharmaceutical group with an enterprise valuation of about $50bn....
...Beyond these three biotechs, Crispr could end up transforming the entire pharmaceutical industry....
...Their concentrated ownership of industries such as airlines and pharmaceuticals may push up travel and drug prices, some academics argue....
..., for $63bn; Pfizer’s sale of its off-patent drug business to Mylan for $9.5bn; and Roche’s $4.8bn takeover of gene therapy company Spark Therapeutics....
...In 2015, he advised Mylan on a successful defence against a hostile bid by Teva Pharmaceuticals....
...Rivals entering the market include Amgen, Sandoz, Biogen, Samsung Bioepis and Mylan. In the first quarter, Humira represented 56 per cent of revenue at $4.4bn....
...Mylan does not make the EpiPens itself. It gave the job to Pfizer, the US pharmaceutical company, which it seems messed it up....
...patent that for 15 years has protected Humira, the world’s best-selling prescription drug, from generic competition expires in Europe — triggering a tussle among a string of the most prominent names in the pharmaceuticals...
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