Aurobindo license generic drugs to Pfizer

Aurobindo Pharma has licensed an array of generic pills and injectibles to Pfizer, the biggest pharmaceutical company in the world.

Aurobindo has sold rights to 39 generic solid oral dose products for the United States, 20 for Europe plus and 11 for France. These medicines cover a broad range of therapeutic areas, including cardiovascular disease and central nervous system disorders. Pfizer will commercialise these drugs through its Greenstone subsidiary.

Pfizer has also acquired rights to 12 sterile injectable products for the US and Europe. These medicines are antibiotics, including penicillins and cephalosporins.

Financial terms of the deal were not disclosed.

Aurobindo's share price rose 6.32 per cent on the Bombay Stock Exchange just before the trading session coming to an end. The stock was trading at Rs 158.45.

As per Pfizer's data, the global generic market represents about $270 billion. Solid oral dose products are the largest drug category in the non-exclusive market. This category is anticipated to continue its rapid increase in market share and has an estimated growth potential of over $500 billion within the next five years.

Pfizer has started focusing on off-patent medicines as one avenue to spur profits as the drugmaker encounters generic competition that threatens revenue of its own top sellers. Pfizer's sells $10 billion non-exclusive drug annually.

The products expand Pfizer's growing generics portfolio and are versions of drugs originally made by other companies, Pfizer said in a press release.