Pfizer and Mylan Partner to Develop Generic Drugs in Japan
Pfizer and Mylan have announced an agreement to establish an exclusive long-term collaboration to develop, manufacture, distribute, and market generic drugs in Japan. Under the agreement, Pfizer's responsibilities would consist of the commercialization of the combined generics portfolio, including sales and marketing while Mylan would manage operations, including R&D and manufacturing. The collaboration between Pfizer and Mylan will include a portfolio of more than 350 marketed products across a broad range of therapeutic categories, as well as more than 125 additional products in development. Products included in the collaboration are expected to be sold under the Pfizer brand with joint labeling.
“We are very excited to have the opportunity to be partnering with Pfizer to build upon our existing assets and drive an even stronger, more sustainable generics business in Japan, which will be well-positioned to take advantage of anticipated growth in generic utilization in this market and other significant growth opportunities,” said Mylan's CEO, Heather Bresch in the release. “As a leading global biopharmaceutical company and a leader in the Japanese market, we expect Pfizer will bring significant benefits to the collaboration, particularly in the commercialization of products, and will complement the strengths of our existing Mylan business. With contributions from both companies, we believe the collaboration will result in a powerful generics platform that we believe will be a leader in Japan in terms of scale, scope, and quality.”
Under the agreement, Pfizer and Mylan will each continue to operate independent entities in Japan, but will collaborate on current and future generic products, and share the costs and profits resulting from the collaboration. The transaction remains subject to the satisfaction of certain closing conditions. Transaction terms remain confidential.