February 22, 2008 |
Watson Pharmaceuticals Inc. won clearance to sell the first generic version of Pfizer Inc.'s cancer drug Camptosar. The Food and Drug Administration approved Watson's generic irinotecan hydrochloride after patents on the brand-name drug expired. Corona-based Watson said it was entitled to 180 days of market exclusivity before the FDA could approve another generic.
February 6, 2008 |
Watson Pharmaceuticals Inc. will begin shipping generic versions of Merck & Co.'s osteoporosis drug Fosamax. Merck will make and supply the drug and receive a share of the profit in the U.S., Corona-based Watson said. Sales of Fosamax dropped 3% to $3 billion last year, Whitehouse, N.J.-based Merck reported Jan. 30. The drug is expected to lose market exclusivity at the close of business today, according to Watson.
September 28, 2007 |
Wal-Mart Stores Inc. added 24 prescriptions to a list of $4 generic drugs to lure more customers into its pharmacies and said it would consider a 90-day prescription program.
April 24, 2007 |
The first generic versions of insomnia drug Ambien won federal approval. The Food and Drug Administration said it approved versions of the tablets made by 13 drug companies for the short-term treatment of insomnia. A patent held by Paris-based Sanofi-Aventis on the drug, also called zolpidem tartrate, expired Saturday.
March 27, 2007 |
Walgreen Co.'s fiscal second-quarter earnings rose 25%, more than analysts estimated, on increased sales of more-profitable generic drugs. Net income climbed to $651.9 million, or 65 cents a share, from $523.5 million, or 51 cents, a year earlier, the company said. Analysts surveyed by Bloomberg had forecast profit of 61 cents at the largest U.S. drugstore chain. Sales at Deerfield, Ill.-based Walgreen rose 15% to $13.9 billion.
February 15, 2007 |
Patients and health insurance providers could save at least $71 billion over 10 years if there was a regulatory mechanism that allowed for the marketing of generic biotech medicines, according to a study being released today. Currently there is no legal pathway that allows generic drug makers to produce biotech medicines, so the high-cost treatments, which are derived from a living source such as proteins, have never had to compete with copycat products that drive pharmaceutical costs lower.