Celgene head elected as PhRMA chairman
SAN DIEGO — Celgene Corp. chairman and CEO Robert Hugin has been elected as chairman of a pharmaceutical industry trade group.
The Pharmaceutical Research and Manufacturers of America announced the election of Hugin, as well as Pfizer president and CEO Ian Read as chairman-elect of the PhRMA board of directors and Merck chairman, president and CEO as board treasurer.
Hugin succeeds Eli Lilly president, chairman and CEO John Lechleiter as chairman, PhRMA said.
Drug portfolio management teams devote more time, money to niche brands, study finds
RESEARCH TRIANGLE PARK, N.C. — Drug companies’ pharmaceutical portfolio management teams spend most of their time and budgets supporting niche products, according to a new study.
The study, "Pharmaceutical Portfolio Management: Selecting Targets, Filling Pipelines and Preparing for Post-Launch Success," by Cutting Edge Information, found that portfolio management teams spend 53% of their time supporting niche products, meaning those with less than $500 million in annual sales. They also spend an average of 59% of their budgets on niche drug compounds, compared with 18% on potential blockbusters.
"The focus on niche drugs makes sense, as drugs with the potential to become blockbusters lose that opportunity as they progress through the development cycle," Cutting Edge Information CEO Jason Richardson said. "As more blockbusters go generic, niche compounds treating conditions with lower rates of incidence become more attractive targets for pharmaceutical companies."
FDA approves Lupin generic contraceptive
MUMBAI, India — The Food and Drug Administration has approved a contraceptive therapy made by Lupin Pharmaceuticals, the Indian drug maker said Friday.
Lupin announced the approval of Daysee (levonorgestrel and ethinyl estradiol tablets and ethinyl estradiol tablets) in the 0.15-mg/0.03-mg and 0.01-mg strengths.
The drug is a generic version of Teva’s Seasonique. Various versions of the drug had sales of $161 million in 2012, according to IMS Health.