Pfizer’s Upjohn Business Sees ‘Expected Drop’ Of 37%
Loss Of Exclusivity For Lyrica Cited As Main Factor
Despite reporting a 37% drop in Upjohn’s first-quarter sales, Pfizer has insisted that the decline was consistent with its expectations for the business. Meanwhile, biosimilars sales have been boosted by US launches as sterile injectables and hospital medicines have seen a lift from COVID-19.
You may also be interested in...
Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.
Mylan has delayed a major restructuring program ahead of its planned merger with Pfizer’s Upjohn unit due to the impact of the COVID-19 pandemic, which at the same time brought tailwinds for the firm’s first-quarter results.
The European Commission has approved Mylan’s merger with Pfizer’s Upjohn unit, on condition that the generics firm make a series of divestments in markets where the two firms’ strong positions and lack of other challengers would raise competition concerns.