The announcement by Aurobindo Pharma to enter in to a strategic deal with US-based pharmaceutical major Pfizer helped its shares price on the Bombay Stock Exchange on Wednesday. The deal would allow selling of generic medicines, used for cardiovascular disease and central nervous system disorders, in the US and European market.
The global generic market is currently worth $270 billion and expected to grow over $500 billion in the next five years. Pfizer holds considerable shares in drug market, selling $10 billion non-exclusive drug annually.
Washington - The US Supreme Court ruled Wednesday that patients can sue drugmakers for failing to warn adequately of serious side effects, even if their warning labels were approved by the federal government, according to a landmark case that could expose the industry to billions of dollars in damages.
In a 6-3 decision, the court upheld a 7-million-dollar reward to a professional musician whose arm had to be amputated after she was improperly injected with Phenergan, an anti-nausea drug produced by pharmaceutical firm Wyeth.
The US Food and Drug Administration (USFDA) has given tentative approval to Aurobindo Pharma, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), to market Escitalopram Oxalate tablets in variable strengths.
Aurbindo will market the pills in dosages of 5mg, 10mg and 20mg.
Hyderabad-based drugmaker will license and supply 75 generic drugsthat address a $200m market to Pfizer
After trying it out for almost a year, the world's biggest drug-maker Pfizer Inc, has decided to turn copycat in right earnest. And the $50 billion giant will take the help of Hyderabad-based Aurobindo Pharma, an established copycat drug-maker, to make this happen.
The multinational will license 70 generic drugs and 12 sterile injectibles, including penicillins and cephalosporins, which according to industry watchers are valued at over $200 million in sales, from Aurobindo for marketing in the US, and Europe.
That is good news for Aurobindo but may not leave much for Pfizer to smile about, say analysts.
After trying it out for almost a year, the world's biggest drug-maker Pfizer Inc, has decided to turn copycat in right earnest. And the $50 billion giant will take the help of Hyderabad-based Aurobindo Pharma, an established copycat drug-maker, to make this happen. The multinational will license 70 generic drugs and 12 sterile injectibles, including penicillins and cephalosporins, which according to industry watchers are valued at over $200 million in sales, from Aurobindo for marketing in the US, and Europe. That is good news for Aurobindo but may not leave much for Pfizer to smile about, say analysts.
The announcement by Aurobindo Pharma to enter in to a strategic deal with US-based pharmaceutical major Pfizer helped its shares price on the Bombay Stock Exchange on Wednesday. The deal would allow selling of generic medicines, used for cardiovascular disease and central nervous system disorders, in the US and European market.
Washington - The US Supreme Court ruled Wednesday that patients can sue drugmakers for failing to warn adequately of serious side effects, even if their warning labels were approved by the federal government, according to a landmark case that could expose the industry to billions of dollars in damages.
The US Food and Drug Administration (USFDA) has given tentative approval to Aurobindo Pharma, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), to market Escitalopram Oxalate tablets in variable strengths.
After trying it out for almost a year, the world's biggest drug-maker Pfizer Inc, has decided to turn copycat in right earnest. And the $50 billion giant will take the help of Hyderabad-based Aurobindo Pharma, an established copycat drug-maker, to make this happen. The multinational will license 70 generic drugs and 12 sterile injectibles, including penicillins and cephalosporins, which according to industry watchers are valued at over $200 million in sales, from Aurobindo for marketing in the US, and Europe. That is good news for Aurobindo but may not leave much for Pfizer to smile about, say analysts.
