Pfizer has launched its Ruxience rituximab biosimilar in the US at a 24% discount to the wholesale acquisition cost of the Rituxan original. The firm has also revealed that when it launches its Trazimera trastuzumab biosimilar in mid-February, it will be at a 22% discount to the Herceptin brand’s WAC.

By getting out of unprofitable product lines, Teva showed the way for industry to stabilize pricing and value in the US retail generics sector, the Israeli group’s president and CEO Kåre Schultz told investors at a J.P. Morgan conference.

Private equity group True North continues to back the Biocon group and is picking up a minority stake in Biocon Biologics in a deal that values the subsidiary at $3bn. Separately, another subsidiary, Biocon Biosphere, has also been set up as part of efforts to unlock the full potential of the business.