Generics

NEW YORK — Novartis is making big investments in biosimilars, CEO Joe Jimenez said in an interview with Fortune magazine.

Jimenez told Fortune that the Swiss drug maker — which markets generics and biosimilars through its Sandoz division — was investing heavily in biosimilars and difficult-to-make generics for such conditions as cancer and respiratory disorders.

PRINCETON, N.J. — The Food and Drug Administration has approved a generic oral contraceptive made by Sandoz, the generics arm of Swiss drug maker Novartis said Wednesday.

Sandoz announced the approval of Loryna (drospirenone 3 mg and ethinyl estradiol 0.02 mg) tablets, a generic version of Bayer HealthCare Pharmaceuticals’ Yaz.

PITTSBURGH — Sales at generic drug maker Mylan increased by 12% during first quarter 2011, compared with first quarter 2010, the company said Tuesday.

Sales for the three months ended March 31 were $1.45 billion, compared with $1.29 billion during the same period a year ago. Profits, meanwhile, were $104.2 million, compared with $61.1 million in first quarter 2010.

ALLEGAN, Mich. — The Food and Drug Administration has approved a generic version of Rogaine made by Perrigo, the drug maker said.

Perrigo announced the FDA approval of over-the-counter minoxidil foam, a generic version of men’s Rogaine foam.

Stiefel Research Australia, part of GlaxoSmithKline, sued Perrigo for patent infringement when the latter submitted its regulatory approval application. Under a settlement between the companies reached in February, Perrigo can launch its generic version of men’s Rogaine foam in March 2012.

JERUSALEM — Cephalon has another suitor in the form of the world’s largest generic drug company.

Teva Pharmaceutical Industries said Monday that it would buy Frazer, Pa.-based Cephalon for $6.8 billion, undercutting efforts by Valeant Pharmaceuticals International, which had offered $5.7 billion in March.

The boards of both companies have agreed to the acquisition, equal to $81.50 per share. Cephalon previously had turned down Valeant’s offer, prompting the Mississauga, Ontario-based company to take its case directly to Cephalon’s shareholders.

PARSIPPANY, N.J. — Watson Pharmaceuticals has launched an authorized generic version of a Johnson & Johnson drug for treating attention deficit hyperactivity disorder through a subsidiary, Watson said Monday.

Watson announced the launch by Watson Labs of methylphenidate hydrochloride extended-release tablets under an agreement with J&J subsidiary Ortho-McNeil-Janssen.

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday posted revenue of $19.8 billion, up 2.4%, for its second quarter ended March 31.

"In the March quarter, we delivered outstanding performance on top of very strong performance last year," stated David Yost, AmerisourceBergen CEO.

INDIANAPOLIS — Drug maker Eli Lilly will get at least two more years of patent exclusivity on a drug used to treat depression, anxiety and pain resulting from diabetic neuropathy and fibromyalgia, thanks to a court order issued Wednesday.

The U.S. District Court for the Southern District of Indiana ruled to forbid Wockhardt and other generic drug companies from selling generic versions of Cymbalta (duloxetine hydrochloride) until patent protection expires, which is expected to occur in June 2013.