Three Largest U.S. Generic Firms See Diversification As Best Path Through Reverse Patent Cliff
Expanded technological capabilities, narrowed focus on alternative dosage forms and harder-to-replicate products, and growing international reach are among the strategies being employed by Teva, Mylan and Watson in the face of 2013’s anticipated reverse patent cliff.
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Actavis’ purchase of Warner Chilcott will lower the former’s overall tax rate significantly, expand its specialty pharma business to 25% of total revenues, and provide global critical mass – all necessary responses to a future that includes fewer opportunities for small molecule generics and greater pricing pressures.
Consolidation in the generic industry is good and necessary, Mylan CEO Heather Bresch said during a recent investor presentation. Mylan is well-positioned in the changing market, she said, thanks to business development such as its biosimilars agreements with Biocon and its Japan collaboration with Pfizer.
The rumored combination of Actavis and Warner Chilcott, with Actavis to re-domicile as an Irish firm for tax benefits, came to fruition May 20. Warner Chilcott CEO Boissonneault said the deal resulted from a long friendship with Actavis’ Bisaro and did not come together overnight.