Decision Resources: Onglyza sales will boast more than $1 billion
WALTHAM, Mass. A research firm for pharmaceutical and healthcare issues projected sales of more than $1 billion for a popular Type 2 diabetes treatment in its respective market.
Decision Resources said Onglyza, developed by Bristol-Myers Squibb and AstraZeneca, will garner peak year blockbuster sales in the United States, France, Germany, Italy, Spain, the United Kingdom and Japan.
The Pharmacor advisory service finding, from the topic entitled “Type 2 Diabetes,” reveals that although it does not offer significant clinical benefit over Merck’s Januvia, the uptake of Onglyza will be driven by its safety and tolerability, convenient administration and lack of weight gain associated with its use. Onglyza, which along with Januvia are the only two DPP-IV inhibitors approved for Type 2 diabetes in the U.S. market, is expected to compete closely with Januvia following the decision by Bristol-Myers Squibb/AstraZeneca to set Onglyza’s price equal to that of Januvia.
“DPP-IV inhibitors have excellent tolerability profiles and carry a very low risk of hypoglycemia,” said Decision Resources analyst Christine Helliwell, Ph.D. “These attributes make both Onglyza and Januvia suitable for widespread use in the treatment of Type 2 diabetes.”
Report: Cipla in generic drug supply talks with GSK, Teva
NEW YORK An India drug maker is in generic drug supply talks with two companies, according to reports.
Cipla said it is in talks with GlaxoSmithKline and Teva to supply the companies with generic drugs.
“It may be specifically for one or two products — it is not a down-the-line drug deal,” Cipla chairman Yusuf Hamied told Reuters.
Cipla is one of the world’s biggest producers of low-cost antiretroviral drugs to fight HIV and AIDS. Last month, the company announced the launch of a generic H1N1 treatment.
Taro elects directors in shareholders meeting; Sun disapproves
HAWTHORNE, N.Y. An Israeli drug maker said that its shareholders voted to elect all of the directors who were up for election, with the exception of the statutory external directors, at its annual shareholders meeting held Dec. 31.
The shareholders also approved the ratification of indemnification for non-executive directors and the appointment of the Taro’s independent auditors.
The company said that it stands behind its nominees for statutory external directors and their qualifications, and further stated that it would continue its efforts to elect statutory external directors as required by Israeli law, despite the efforts of Sun Pharmaceutical Industries to block their election. Sun has claimed that Barrie Levitt, Taro’s chairman, signed contractual obligation to sell Taro’s shares to Sun at a pre-defined price in June 2008. Sun said, however, that Levitt and the company “have prevented the close of this transaction through improper use of Taro resources.”
Sun has sought to acquire Taro for some time. In August 2008, Sun’s tender offer to acquire the company expired, but said that it would once again seek to acquire Taro. In late September, Taro sued Sun in the U.S. District Court for the Southern District of New York, alleging that Sun failed to disclose information to Taro shareholders, and misappropriating confidential information about Taro as part of its efforts to acquire the company – which it has sought to do since June 2008 – and illegally using it to undermine Taro’s relationships with customers and revenues.