Pfizer further expanded into the generics business today, signing an agreement with Indian pharmaceutical company Aurobindo for rights to a slew of generic products. Pfizer will add to its product portfolio 39 generic solid oral dose products in the US and 20 in Europe, as well as 12 injectable products in the US and Europe. This deal expands the five-product US deal the two companies struck last July.
The agreement is part of Pfizerâ€™s Established Products Business Unit strategy that the pharma giant launched in 2008 in an effort to create smaller, more accountable business units. The Unit focuses on the commercialization of products whose market exclusivity has been lost; it currently rakes in $10 billion annually in global sales.
Pfizer also entered into a five-year agreement with Bausch & Lomb to co-promote the companiesâ€™ branded ophthalmic products.
Under the terms of the agreement, Pfizerâ€™s Xalatan (latanoprost ophthalmic solution) and Bausch & Lombâ€™s Alrex (loteprednol etabonate ophthalmic suspension 0.2 percent), Lotemax (loteprednol etabonate ophthalmic suspension 0.5 percent), and Zylet (loteprednol etabonate 0.5 percent and tobramycin 0.3 percent ophthalmic suspension) will be promoted by both companyâ€™s sales forces. Bausch & Lombâ€™s besifloxacin, which is currently under review for FDA approval, was also included in the deal.