PEAPACK, N.J. The generics subsidiary of Pfizer is launching a new business focused on authorized generics.
Greenstone announced Tuesday the launch of the Authorized Generics Alliance, which it said would combine its business model and 17 years of experience in the generics market with the expertise of other drug makers to market authorized generics in the United States under the Greenstone label.
“Greenstone is one of the longest-running and most respected marketers of innovator-authorized generics in the United States,” Greenstone general manager Michael Sweitzer said. “As part of Pfizer, Greenstone has the backing of the company’s 161-year expertise in innovation, integrity, quality and supply reliability.”
Unlike generic drugs, which are approved under an abbreviated regulatory approval process by the Food and Drug Administration after the branded drug company’s market exclusivity has expired and compete with their branded counterparts, authorized generics are branded drugs sold under their generic names with permission from the branded drug maker, often through third-party companies.