Pfizer and Mylan have entered into a collaboration agreement to develop, manufacture, distribute and market generic drugs in Japan.
Under the agreement, Pfizer will take responsibilities for the commercialization of the combined generics portfolio, managing a combined marketing and sales effort, while Mylan will manage operations including research and development and manufacturing.
Pfizer established products business unit president and general manager Albert Bourla said the company believes that the collaboration will enable both companies to effectively build upon each other’s core capabilities to help meet the needs of more patients and customers in Japan than ever before.
“We are committed to delivering high quality medicines and believe this agreement will help us accelerate our ability to achieve our vision: Transform the Japanese Healthcare Environment with Established Products by 2020,” Bourla added.
The transaction is subject to the satisfaction of certain closing conditions.
Mylan CEO Heather Bresch said the company believes the collaboration will result in a powerful generics platform that will be a leader in Japan in terms of scale, scope and quality.
“We expect the collaboration with Pfizer to enhance the contribution of Japan to our overall business in the near- and long-term and provide exciting opportunities to our employees across all areas of the business in Japan,” Bresch added.