In many ways, Viatris is a product of the recent challenges faced by copycat drug developers.
In the world’s largest pharmaceutical market, the U.S., generics companies have found maintaining profits more difficult because of pressure on prices. At the same time, biosimilar sales remain relatively low due to the complicated patent webs that block many manufacturers from making inroads.
For some of the biggest, most diversified drug companies, these obstacles have raised questions about whether money would be better spent elsewhere. Biogen, for instance, announced in January plans to sell its stake in a joint venture focused on biosimilars. The Swiss pharmaceutical giant Novartis has also said it might offload its struggling generics unit Sandoz.
Viatris, meanwhile, was created through a merger between Pfizer’s generics business, called Upjohn, and Mylan, which had hit a series setbacks manufacturing- and pricing-related setbacks over the preceding few years. READ MORE
by Jacob Bell
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.