Mid-pharma case study

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Source: DataMonitor

Mid-Pharma case study
Becoming a licensing partner of choice in European and US pharmaceuticals
Reference Code: BPCS183 Publication Date: June 2006

This case study analyzes the strategies undertaken by pharmaceutical firms to become the licensing partners of choice in both European and US markets. It looks at four Mid Pharmacompanies that have become strong licensing partners in their fields: Menarini and Almirall, both based in Europe, and King Pharmaceuticals and Forest Laboratories in the US.

• Menarini has firmly established itself as a domestic marketing partner of choice within the Italian market. The success of Menarini is in part due to the unique landscape of the industry within Italy which limitsthe success of foreign players attempting to penetrate the market directly; • Almirall has established itself as key marketing partner for Big Pharma in its home market of Spain, developing a specialist expertise in marketing products in Spain which is an incentive for both Big Pharma and the smaller Mid Pharma companies; • Although mainly involved in late stage licensing, Forest is hoping toenhance its in-licensing of earlier stage drugs. By doing so, Forest will be able to broaden its R&D capabilities and potentially drive down the cost of its licensing deals;

King is stepping up its efforts to establish its intellectual property through the discovery of ethical products. Despite this, the company is expected to retain its position as a US licensing partner for small Europeancompanies which will continue to be its major source of income.

Mid-Pharma case study
© Datamonitor. This brief is a licensed product and is not to be photocopied

BPCS183/ Published 06/2006 Page 1

Mid-Pharma case study

ANALYSIS European Licensing Specialists
The Mid Pharma peer set is defined as all those companies in the PharmaVitae universe that have ethical revenues of less than $10billion in 2005, excluding Japanese and biotechnology companies. Mid Pharma companies often embrace externalization as their business model, which serves multiple purposes for them: it supplements the in-house pipeline to support growth rates, it provides access to a much broader palette of R&D opportunities than would be available by staying in-house, and it can also serve as a powerfulmechanism for the strategic redirection of a company. Larger European based companies within Mid Pharma tend to have a broader multi-regional focus than small pharmas, for the majority of their externally sourced products. However, whilst smaller companies tend to be more focused towards their domestic markets, this is not always the case.

Menarini is the leading licensing partner for the Italianmarket
At the time of writing, Italy-based Menarini, which focuses on research and biotechnologies, had sourced 28 of its 33 major products from an external source, meaning that 66.7% of its portfolio has been in-licensed. There is a broad range of licensing deals within its portfolio which reach beyond its own domestic market and across Europe. This case study aims to discuss some of the keylicensing agreements made by Menarini which emphasize its position as the number one domestic licensing partner for the Italian market. Table 1:

Menarini’s key domestic licensing deals
Generic Licensor Region Type of agreement 2005 Sales ($m) 141 140 113 96 85 79 73 68

Lobivon Totalip Aliflus franchise Macladin Pravaselect Lucen Omeprazan Valpression/ Combisartan

nebivolol atorvastatinsalmeterol/ fluticasone clarithromycin pravastatin esomeprazole omeprazole valsartan

Janssen Cilag (J&J) Pfizer GSK Abbott Bristol-MyersSquibb AstraZeneca AstraZeneca Novartis

Europe Italy Italy Italy and Spain Italy Italy Italy Italy

Co-marketing Co-marketing Co-marketing Co-marketing Co-marketing Co-marketing Co-marketing Co-marketing

Source: Datamonitor


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