Pfizer may enter generic drug market in Japan
November 23, 2009
Pfizer Inc. said it might begin selling generic drugs in Japan as early as 2011, as part of its efforts to diversify its operations, reported by Reuters. Like other drugmakers, Pfizer is grappling with growing risks of a slump in earnings on patent expirations, coupled with rising regulatory and scientific bars for bringing next-generation drugs to the market. Amid these challenges, Pfizer has merged with Wyeth, another major drugmaker, and also launched generic drug businesses in the United States and Europe earlier this year, using its rights to generic drugs made by firms such as India''s Aurobindo Pharma. Pfizer said in May its license deals with Aurobindo and Claris Lifesciences would allow it to sell 60 generic products in more than 70 countries throughout Asia, Latin America, Africa and the Middle East and more than 100 products across North America, Europe, Australia and New Zealand.