Generic Drug Market Got a Shake-Up in July

Sure, you’ve heard about Teva Pharmaceutical Industries’ (NYSE: TEVA) $40.5 billion acquisition of Allergan Generics (NYSE: AGN), announced on July 27. Less hyped was Teva Pharmaceuticals USA’s sale of 22 previously marketed generic drug brands to ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) for $25 million and a percentage of future gross profits from product sales. Earlier in the month, Indian drug maker Lupin Limited (NSE: LUPIN.NS) bought the Russian generic drug maker ZAO Biocom for an undisclosed price, and then U.S.-based generic formulator GAVIS Pharmaceuticals LLC and its manufacturing plant for $880 million. The day after the Teva/Allergan announcement, Hikma Pharmaceutical LLC... Read More »

Indian Drug Maker Gains a Manufacturing Toehold in the U.S.

Mumbai-based Lupin Limited (NSE: LUPIN.NS) produces a wide range of branded and generic formulations and APIs globally. Last week it paid $880 million for bought GAVIS Pharmaceuticals LLC and a subsidiary, Novel Laboratories. The acquisition enhances Lupin’s scale in the U.S. generic market and broadens its pipeline in dermatology, controlled substance products and other high-value and niche generics. Gavis had sales of $96 million in FY 2014 and currently has 66 ADA filings pending approval with the FDA, and a pipeline of more than 65 products under development. Its New Jersey-based manufacturing facility is Lupin’s first manufacturing site in the United States Read More »