Sun Pharma Hopes Cut-Price Generic Gleevec Will Win Third Of U.S. Market
Sun Pharma (SUN.NS) launched a generic version of Novartis's (NOVN.VX) leukaemia drug Gleevec on Monday in the United States and hopes to poach a third of sales in six months by pricing the copycat some 30 percent cheaper, Sun's North American chief executive said.
Gleevec, or imatinib mesylate, costs up to about $90,000 annually in the United States, implying Sun's price could be roughly $60,000. Gleevec posted $4.7 billion in global revenue in 2015, and Swiss-based Novartis has said the U.S. patent expiry puts around $2.5 billion in annual sales at risk.
Gleevec, or imatinib mesylate, costs up to about $90,000 annually in the United States, implying Sun's price could be roughly $60,000. Gleevec posted $4.7 billion in global revenue in 2015, and Swiss-based Novartis has said the U.S. patent expiry puts around $2.5 billion in annual sales at risk.