Generics

NEW YORK — Pfizer apparently is relenting on its attempt to drive sales of its top cholesterol drug as several new generic versions look set to enter the market, according to published reports.

The Associated Press reported that Pfizer was "quietly" giving up on the drug Lipitor (atorvastatin) after an $87 million campaign to continue marketing the drug despite generic competition.

CARLISLE, Pa. — Giant Food Stores collected nearly 3 tons of unused medications during a nationwide medication take-back day last month, the chain said.

Giant, owned by Dutch supermarket operator Ahold, said it and its Martin's Food Markets banner collected 5,843 lbs of unwanted and expired medications at 43 of its stores during the April 28 take-back event, doubling the amount collected last year.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The past two weeks have seen two new additions to the list of retailers selling prescription drugs for pets, showing that this space, while still small, is growing in importance and offers a good way for retailers to drive customer traffic.

THOUSAND OAKS, Calif. — Biotech drug maker Amgen has joined the list of companies offering testimony at a Food and Drug Administration hearing on biosimilars Friday.

PARSIPPANY, N.J. — Generic drug maker Watson Pharmaceuticals has formed a special office to handle its pending acquisition of Actavis, the company said.

Watson announced the formation of the global integration management office, which will report directly to president and CEO Paul Bisaro and focus on integrating the Zug, Switzerland-based generic drug maker, which Watson announced it would acquire last month.

PARSIPPANY, N.J. — Generic drug maker Watson Pharmaceuticals is hoping to be the first to market a generic version of a drug used to treat ulcerative colitis, the company said.

Watson announced that it had filed with the Food and Drug Administration through a subsidiary for melamine delayed-release tablets, a generic version of Shire Development's Lialda, in the 1.2-g strength. Watson's filing included a Paragraph IV certification, a legal assertion that Lialda's patent protection is invalid, unenforceable or won't be infringed.

PITTSBURGH — Mylan has increased its 2012 earnings per share guidance range, the generic drug maker said.

The company boosts its EPS guidance range to $2.45 to $2.55 in adjusted diluted earnings per share, up from $2.30 to $2.50 per share. All of Mylan's other 2012 guidance metrics remain unchanged.

In related news, Mylan also announced that its board of directors has approved the repurchase of up to $500 million of the company's common stock in the open market.

HOLZKIRCHEN, Germany — The Food and Drug Administration should apply consistent regulatory standards across all biologics, Sandoz plans to state Friday in testimony at an FDA public hearing on draft guidances related to the development of biosimilars.