Mylan acquires rights to Pfizer’s inhaler technology
PITTSBURGH — Generic drug maker Mylan has bought rights to a drug delivery platform made by Pfizer that will allow it to make generic versions of two GlaxoSmithKline respiratory drugs, Mylan said Wednesday.
Mylan announced that it bought exclusive worldwide rights to develop, manufacture and commercialize Pfizer’s generic versions of GSK’s Advair Diskus and Seretide Diskus (fluticasone propionate and salmeterol) using Pfizer’s proprietary dry-powder inhaler delivery system. Both drugs are used to treat asthma and chronic obstructive pulmonary disorder. The deal also will allow Mylan to use the system to develop other branded and generic drugs.
Under the agreement, Mylan will pay for remaining development and capital expenditures to bring the products to market and pay Pfizer $17.5 million plus additional milestone payments. IMS Health estimates that the global market for asthma and COPD prescription drugs is $34 million and growing at about 7% per year. More than half of the market is expected to lose patent protection by the end of 2016, including several blockbuster drugs, including inhaled drugs.
"We are extremely pleased to enter into this agreement with Pfizer, as we believe that inhaler-based products represent a significant opportunity for our generics business and expand our focus on difficult-to-produce, limited-competition products," Mylan president Heather Bresch said.
I have to assume you meant $34B not $34M for ww sales of asthma and COPD products.