The lucrative Mexican markets have wooed pharma majors for years and Dr Reddys is no exception.
After shrugging off the proposed MoU with Fujifilm, the drug giant had issued a statement that the company was planning a fresh collaboration with various partners in Japan. Market analysts estimate that the Japanese healthcare market is set to boom generating revenue close to $90-$120 bn by 2017.
Biocon made history by launching the world’s first biosimilar drug for treating metastatic breast cancer. The drug developed co-jointly in partnership with Mylan is said to be 25 percent cheaper than in India the original drug Herceptin.
The Japanese pharma major was slammed with a mammoth fine of $6 bn for allegedly concealing the cancer risks associated with its blockbuster diabetes drug Actos.
The US FDA further ordered the drug maker to add the cancer warning to the drug’s label. This is the largest ever fine imposed on any pharmaceutical company.
The Japanese health Ministry had filed a criminal complaint against Novartis for the alleged exaggerated advertising of its popular blood pressure drug, Diovan. A medical study of the drug proved that the data generated in clinical studies might be skewed to promote the drug.
Further investigation led to the arrest of the drug maker’s ex-employee on the grounds of suspected violation of the country’s laws by providing false data to researchers. The drug maker cracked down hard on its employees as the allegation unfolded.
Amid shrinking profits from smart phones and electronics, Samsung targeted the pharmaceutical industry as another growth engine. The company said in a statement that it aimed to become the number one pharmaceutical company in the world and has already invested $2bn in this venture.
Samsung announced plans to sell its first biosimilar version of Amgen in Europe by 2016.
The company also plans to co-develop diabetes drug with Merck. Both will collaborate on clinical development, regulatory filings and manufacturing. The drug, if approved, would be commercialized by Merck.