Pfizer/Mylan to join forces for driving generics business in Japan
Pfizer and Mylan have signed a definitive agreement to establish an exclusive long-term strategic collaboration to develop, manufacture, distribute and market generic drugs in Japan. The collaboration is designed to build upon each company's complementary strengths and quality assets.
Under the terms agreed, Pfizer's responsibilities primarily consist of the commercialisation of the combined generics portfolio, managing a combined marketing and sales effort using its strong brand reputation and prior track record of bringing new products to the market. Mylan's responsibilities primarily consist of managing operations, including research and development and manufacturing. The collaboration will include a portfolio of more than 350 marketed products across a broad range of therapeutic categories, as well as more than 125 additional products in development. Products included in the collaboration are expected to be sold under the Pfizer brand with joint labelling.
Under the agreement, Pfizer and Mylan will each continue to operate independent entities in Japan, but will collaborate on current and future generic products, sharing the costs and profits resulting from the collaboration. The transaction remains subject to the satisfaction of certain closing conditions and its terms remain confidential.