Perrigo

Ecrit par Alain Zeitoun sur . Publié dans , ,

Perrigo Company is the largest manufacturer of private label over-the-counter pharmaceuticals in the United States.[2] The company’s shares are traded on the NYSE and the Tel Aviv Stock Exchange; as a result of the merger with Agis Industries the company is a constituent of the TA-25 Index. Perrigo is the only non-Israeli company on the TA-25.

Perrigo Company, through its wholly owned subsidiaries, engages in the manufacture and sale of consumer healthcare products, generic prescription drugs, active pharmaceutical ingredients (API), and consumer products primarily in the United States, Australia, Israel, Europe, India and Mexico.

History

Black and white photo of L.Perrigo Co. Aspirin tablets

The L. Perrigo Company was founded in 1887 in Allegan, Michigan, by Luther and Charles Perrigo, who ran a country general store .[3] In 1991 Perrigo had an Initial public offering on NASDAQ.

 

In March 2005 the firm acquired Agis Industries Ltd. (TASE:AGIS), an Israel based generic pharmaceuticals company in an $850 million transaction. Agis was founded in 1983 by Moshe (Mori) Arkin who developed his father’s small drug import business into a multinational generic pharmaceutical company. As a result of the acquisition Arkin owns 9% of Perrigo, and was appointed as Vice Chairman of the company.[4]

 

Acquisitions

On 9 January 2008, the firm acquired Galpharm Healthcare, Ltd., a supplier of over-the-counter store brand pharmaceuticals in the United Kingdom.[5] On 16 September 2008, the firm acquired J.B. Laboratories .[6] On 6 October 2008, it acquired Laboratorios Diba S.A., enabling the company to market its products in Mexico.[7] On 13 November 2008, ity acquired Unico Holdings, a manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail consumers in the U.S.[8]

On 1 March 2010, the firm acquired Orion Laboratories Pty, Ltd. a supplier of over-the-counter (OTC) store brand pharmaceutical products in Australia and New Zealand.[9] On 23 March 2010, it acquired PBM Holdings, Inc.,a producer of over-the-counter store brand infant formula and baby foods in the United States, Canada, Mexico and China.[10]

On 20 January 2011, the firm announced that it would acquire Paddock Laboratories Inc., with the deal expected to close in fiscal 2012.[11] On 29 July 2013, the firm announced that it would acquire Élan a major drugs firm based in Dublin.[12][13]

 

Segments

The company operates in three segments; Consumer Healthcare, Rx Pharmaceuticals, and Active Pharmaceutical Ingredients. The Consumer Healthcare segment produces over-the-counter pharmaceutical and nutritional products in the United States, the United Kingdom, and Mexico. This segment offers analgesic, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, first aid, antacids, hemorrhoidal remedies, motion sickness, sleep aid products, feminine hygiene products, vitamin, and nutritional supplement products.

The Rx Pharmaceuticals segment produces generic prescription drugs in the United States. This segment provides creams, ointments, lotions, gels, and solutions, as well as nasal sprays, foams, and transdermal devices.

The Active Pharmaceutical Ingredients segment produces pharmaceutical ingredients in Israel with sales to customers worldwide. The company also offers cosmetics, toiletries, detergents, manufactured and imported pharmaceutical products, and medical diagnostic products. The company’s customers include national and regional retail drug, supermarket, wholesalers, and mass merchandise chains.

 

Management

Joseph C. Papa is the Chief Executive Officer and President.[14]

 

Awards

101 Best and Brightest Companies to Work For of West Michigan awarded Perrigo overall “Best of the Best” for 2009.[15]

In 2010 Perrigo was named one of the top 100 Fastest-Growing Companies by Fortune Magazine.[16]

Teva Pharmaceuticals

Ecrit par Alain Zeitoun sur . Publié dans , , ,

Teva Pharmaceutical Industries Ltd. (Hebrew: טבע תעשיות פרמצבטיות בע »מ‎) is an international pharmaceutical company headquartered in Petah Tikva, Israel. It specializes in generic and proprietary pharmaceuticals and active pharmaceutical ingredients. It is the largest generic drug manufacturer in the world[2] and one of the 15 largest pharmaceutical companies worldwide.[3]

Teva’s facilities are located in Israel, North America, Europe, and South America. Teva is a member of both the New York Stock Exchange and the Tel Aviv Stock Exchange.

Eli Hurwitz was the CEO of Teva from 1976 to 2002, and chairman of the board until his death in 2011.[4][5]

Since May 2012 Jeremy Levin has been the CEO.

History

Worker at Assia plant in the 1930s

Teva plant, Har Hotzvim, Jerusalem

Teva’s earliest predecessor was Salomon, Levin, and Elstein Ltd., a wholesale distributor based in Jerusalem that was founded in 1901. During the 1930s, new immigrants from Europe founded several pharmaceutical companies including Teva (« Nature » in Hebrew), Assia, and Zori. In 1951, Teva raised capital through the newly founded Tel-Aviv Stock Exchange.

In 1964, Assia and Zori merged and acquired a controlling interest in Teva. In 1976, these three companies merged into the modern Teva Pharmaceutical Industries Ltd. In 1980, Teva continued to follow its vision of becoming one of the world’s biggest pharmaceutical companies by acquiring Ikapharm, then Israel’s second largest drug manufacturer.[6]

In 1982, Teva was granted approval by the U.S. Food and Drug Administration (FDA) for its Kfar Saba manufacturing plant, an essential milestone for marketing pharmaceuticals in the USA.

In 2005, Teva opened a new, state-of-the-art pharmaceutical manufacturing plant in Har Hotzvim, a technology park in Jerusalem. The plant received FDA approval in early 2007.[7] Teva entered the Japanese market in 2005, and in 2008 established a generics joint venture with Kowa.[8]

In 2008, sales totalled $11.08 billion, $13.9 billion in 2009, and in 2010 total sales rose to $16.1 billion, of which a major portion was in Europe and North America. Teva acquired its U.S. rival Ivax Corporation in January 2006, Barr in 2007 and Ratiopharm in 2010.

In 2010, Teva announced that it would be building its main distribution center for the Americas in Philadelphia, PA and was considering opening its US headquarters in the area.[7] In 2010, it had 39,660 employees. In Israel, the number of workers rose 7.5% to 6,774.[9] In March 2010, Teva acquired German-based company Ratiopharm in a nearly $5 billion deal, significantly expanding its European coverage.[10][11][12] In May 2011 Teva announced it will purchase Cephalon for US$6.8 billion as part of its effort to expand its presence in the proprietary pharmaceuticals sector.

Within Teva operates Teva Active Pharmaceutical Ingredients (TAPI) as a stand-alone business unit. On top of supplying a major share of Teva’s own needs, the TAPI division is an active competitor in world markets. In 2009, TAPI’s sales to third parties totaled $565 million, and in 2010 sales rose by 13% to a total of $641 million.

Mergers and acquisitions

On December 23, 2008, Teva acquired Barr Pharmaceuticals for US$7.5 billion, making Barr and Pliva (which Barr bought earlier) part of Teva.[13] On March 18, 2010, Teva announced that it planned to acquire German generic Ratiopharm for US$5 billion. The deal was completed in August 2010.[7]

In May 2011, Teva bought Cephalon for US$6.8 billion.[14] Shortly after this announcement, Teva announced the ¥40 billion purchase of a majority stake in the Japanese generic drug company Taiyo Pharmaceutical Industry, a move to secure a Japan-local production facility.[8] Teva completed the $934 million acquisition on July 2011.[15]

Research and Development

Copaxone, a Teva patented drug

Teva holds a patent on multiple drugs including: Copaxone (for the treatment of multiple sclerosis), now the world’s best selling MS drug, and Azilect (sold as Agilect in some countries) for treatment of Parkinson’s disease.

In June 2006, Teva received from the FDA a 180-day exclusivity period to sell simvastatin (Zocor) in the U.S. as a generic drug in all strengths except 80 mg. Teva presently[when?] competes with the maker of brand-name Zocor, Merck & Co.; Ranbaxy Laboratories, which has 180-day exclusivity for the 80 mg strength; and Dr. Reddy’s Laboratories, whose authorized generic version (licensed by Merck) is exempt from exclusivity.

In June 2010, the company announced it would discontinue its production of propofol, a major sedative estimated to be used in 75% of all US anesthetic procedures.[16]

Legal issues

On June 25, 2010, Bayer sued Teva for falsely claiming that Gianvi, Teva’s Generic of Yaz, was « stabilized by betadex as a clathrate. »[17] The lawsuit stems from Bayer’s US patent, 5798338, on the binding and preservative agents that were not in fact present in Gianvi. « In the preparation of such low-dosed dosage forms, strong fluctuations of the active ingredient concentrations in the dosage units occur almost unavoidably (inadequate content uniformity), which manifest themselves more strongly, the smaller the amount of the active ingredient. It has now been found that the drawbacks that are observed especially in the preparation and storage of dosage forms which contain low-dosed steroidal sex hormones can be avoided, at least to a large extent, if dosage forms are prepared that contain powdery cyclodextrin clathrates of these active ingredients. »[18] The settlement of the lawsuit resulted in Teva changing its product marketing to remove the claim that it used the same ingredients as Yaz.[19][dead link] Bayer’s patent is on a method specifically designed to prevent oxidative degradation of the estrogen.