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Glenmark stops four as competition bites

 
• By Dean Rudge

Glenmark has discontinued development of four in-licensed complex generic projects in the US, on the basis that the “overall business case for these assets has significantly weakened due to the intense competitive landscape”. The Indian firm will no longer work on in-licensed generics of Abraxane (protein-based paclitaxel), NuvaRing (etonogestrel/ethinylestradiol), Concerta (methylphenidate) and Suboxone (buprenorphine/naloxone) following the action. Intangible asset-impairment charges totalling Rs1.78 billion (US$25 million) linked to the decision were recorded in Glenmark’s financial second quarter.

Glenmark has discontinued development of four in-licensed complex generic projects in the US, on the basis that the “overall business case for these assets has significantly weakened due to the intense competitive landscape”. The Indian firm will no longer work on in-licensed generics of Abraxane (protein-based paclitaxel), NuvaRing (etonogestrel/ethinylestradiol), Concerta (methylphenidate) and Suboxone (buprenorphine/naloxone) following the action. Intangible asset-impairment charges totalling Rs1.78 billion (US$25 million) linked to the decision were recorded in Glenmark’s financial second quarter.

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• By Dave Wallace

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• By Urtė Fultinavičiūtė

With discounts reaching up to 90%, ustekinumab biosimilars have eroded originator Stelara’s sales as expected. In its latest quarterly biosimilar market report, Samsung Bioepis also analyzed the latest regulatory steps to streamline biosimilar development.

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• By Adam Zamecnik

Reflecting increased regulatory pressure and a wider drive towards the reshoring of pharmaceutical manufacturing to the US, Speranza has launched a new generics business called Lotus Therapeutics.