Wyeth said thisweek that it would begin shipping an authorized generic version of Protonix(pantoprazole), its ulcer drug, through Prasco.
The shipmentsfollow the at-risk launch of generic pantoprazole tablets in the US by TevaPharmaceuticals in December. Until Tuesday, a standstillagreement prevented Teva from shipping additional generic product,and it was expected to remain in effect through today. The move by Wyeth clearsthe way for Teva to resume shipments of its own copycat. Another company, SunPharmaceuticals, has final approval to ship a generic as well.
Protonix hadsales of $1.91 in 2007, a 6% increase over 2006, the company reported today.Sales rose 10% in the fourth quarter to $461 million. Bear Stearns analyst JohnBoris estimated that Wyeth would sell only $350 million of Protonix this year,including the authorized generic. According to that model, its Protonix revenuewould plummet 81%. Friedman Billings Ramsey analyst Robert Uhl projected salesof generic pantoprazole copies, presumably priced at a substantial discount, of$230 million in 2008.
Fortunately forWyeth, it’s got three other blockbusters in the fold. Antidepressant Effexorhad 2007 sales of $3.8 billion, a 2% increase over 2006; vaccine Prevnar $2.4billion, a 24% rise; and anti-inflammatory drug Enbrel, for which Wyeth booksex-US sales, just over $2 billion, a 36% increase.
Meanwhile, Wyethand Altana (which was purchased by Nycomed last year) are seeking an injunctionagainst Teva for infringing the Protonix patent, as well as monetary damagesincluding lost profits. Last year the US District Court for the District of NewJersey denied the companies’ motion for the preliminary injunction prior toresolution of ongoing patent litigation. A trial is possible in the second halfof 2008.
