Meda ventures into generic drugs
SOMERSET, N.J. A lot of generic drug companies have conducted business in the branded drug market on the side for a long time, with Teva Pharmaceutical Industries and Watson Pharmaceuticals standing out as good examples. But lately, some branded drug companies have sought to get into generics as well.
Meda Pharmaceuticals, the U.S. subsidiary of Swedish drug maker Meda A.B., recently decided to create its own generics subsidiary, calling it Wallace Pharmaceuticals, senior marketing director John White told Drug Store News.
“The strategy demonstrates Meda’s efforts to diversify and align and better serve the needs [and] interest of our customers,” White said. “We believe our ability to provide consistency in therapeutic effect, manufacturing and supply to our parent company’s branded products will prove to be a competitive advantage for Wallace Pharmaceuticals.”
Wallace will focus its business in the United States, with a core portfolio of allergy and pain medicines, White said. The company currently has no plans to enter the biosimilars market, however.