Forest Labs has filed suit against Glenmark Generics and several other companies, alleging that they infringed on its patent for a drug to treat hypertension by seeking regulatory approval for generic versions.
Patent expirations of key blockbuster drugs and efforts by payers to contain costs are likely to bring strong growth to the global generic drug market in the next few years as market-earned revenues grow by more than $100 billion, according to an analysis by research firm Frost & Sullivan.
Though they've been on the market for less than a month, the generic and authorized generic versions of Pfizer's cholesterol-lowering drug Lipitor have captured more than one-tenth of prescriptions, according to published reports.
Ranbaxy Labs was supposed to launch its generic version of the world's top-selling drug Wednesday, but a competitor beat it to the punch as the former waits for final Food and Drug Administration clearance.
AmerisourceBergen on Tuesday recorded revenues of $20.4 billion for fourth quarter 2011 ended Sept. 30, up 3.5%. Diluted earnings per share increased 8% to 54 cents. For the year, AmerisourceBergen posted $80.2 billion in revenue, up 2.9%.
A wave of patent expirations over the next several years will open up a broad swath of drugs to generic competition, and India's Lupin Pharmaceuticals is looking to benefit, according to published reports.