The world’s largest drugmaker is set to make some changes to its marketing strategy, as it loses more than $100 billion in debt this year and is spending more than $2 billion to acquire other companies. In the meantime, the company is spending $5.5 billion on research and development and expects to spend $3 billion this year.
The deal is expected to be a big boon to the drug industry, which is expected to lose more than $4 billion in debt this year. But many investors are skeptical.
Sales for both drugs and generic drugs declined 18 percent last year to $3.9 billion, while revenue from branded drugs fell 11 percent to $4.8 billion. The overall market for branded drugs has been weak, falling from $5.9 billion in 1995 to $5.5 billion in 1997.
The pharmaceutical company said it will focus on other areas, including research and development.
The company said it will have a number of priorities to focus on.
“Our focus will be on bringing in and developing the most innovative new drugs,” said Charles A. Wehr, chairman and chief executive officer of the drug company.
The deal will be subject to an initial public offering in the second quarter of 2002, according to analysts. The company expects to have final results in 2002 and will pay $4.5 billion to $5 billion in cash and debt to acquire a portfolio of products in development and other key sectors of the market. The drug company also plans to launch its first generic version of its cholesterol pill, Humira, in May.
The company said it expects to spend $4.4 billion on marketing.
The company will also have a number of strategic areas to focus on. The drug maker said it plans to increase its research and development team in order to help it focus on other areas in its pipeline. The drug maker said it will also have a number of products to expand into new areas such as treatment of high cholesterol, diabetes and neurological disorders.
The deal was approved by the Federal Trade Commission earlier this year. The commission will review the approval process and issue a report to the U. S. Food and Drug Administration.
The companies also reported that a new drug for the treatment of high cholesterol was approved in November, and the company has said it will be testing a new version of that drug, called Lipitor, that would help people lower their LDL cholesterol.
The company will also be able to produce a generic version of Crestor, the drug cholesterol pill, it said in a statement.
“We are excited about the potential of this new development and look forward to developing a new drug for the treatment of high cholesterol that is as effective as possible,” said Mark D. McClellan, president of the cholesterol drug maker. “The results of our studies will help our patients and doctors make the best decisions for their treatment of their cholesterol problems.”
The company also plans to buy an equity stake in a company developing and producing a new drug for a new indication.
AstraZeneca also plans to sell shares in a joint venture company that develops new drug products for a new indication, AstraZeneca said.
The company also said it will pay $5 billion in proceeds to pay for a marketing and advertising plan that will focus on new therapies.
The deal is subject to an initial public offering in the second quarter of 2002, according to analysts.
“We look forward to having the ability to do our part to support the industry’s research and development efforts,” said Charles A. Wehr, chairman of the company’s research and development. “We will be extremely interested in the company’s future growth,” he said. “We believe we have a long-term plan for the company’s future.”
The company expects to complete a number of acquisitions, including one in the United States and one in Canada.
“We expect to complete a number of acquisitions in the next couple of years,” said James E. McDonagh, president of the U. group of investors for AstraZeneca.
The company also said it will have $5.5 billion in cash and debt.
The company reported that the acquisition is expected to be a big boon to the pharmaceutical industry.
“We are a very successful company,” said William T. DeRosa, president of the American Pharmaceutical Association.
The cholesterol-lowering drug Crestor has been a target of a slew of high-profile celebrities, including Bob Dole, Bob Dole's former protégé, and now a star in the TV showCrestor. But doctors say their side effects are too serious for most patients to handle.
Dr. John Tam, a cardiologist at the Cleveland Clinic, told theNew York Timesthat he thinks Crestor is an over-the-counter drug and will soon be pulled from the market.
Tam's office, which is based in Cleveland, said he's not sure why Crestor sales have doubled since the launch of the drug. But he's said the drug's sales have been growing since it first came on the market in 2003.
The drug's maker, Pfizer, has said it will pay for the drug, but it's not clear how much.
"There's not much that we would do to help," said Tam, a member of the board of directors at Pfizer. "We have a problem of people getting the medication and it is not working out very well."
In fact, Tam's doctor said the cost of the drug is expected to be around $4,000 per year. Pfizer is planning to launch Crestor in the United States next year, but that's not certain, and some doctors have said they'd rather not take the drug.
Tam said his company is focused on bringing patients to doctors, but he doesn't believe it will do so for the rest of his life.
He said that patients should only be able to get Crestor once a month. "The goal is to get them to a doctor who understands they need to be a doctor," he said. "We don't want to create more doctors for patients."
Tam said he's not sure why Crestor sales have doubled since the launch of the drug, but he thinks it's not because of the drug's potential side effects.
"I'm not sure why it's more expensive than what it is," he said. "I don't know that I have any confidence that a lot of people will have any problems."
Michael D. Williams, a professor of medicine at the University of Southern California, said he thinks there may be a better chance for patients who are already taking the drug to see if it works for them. He also said his patients are taking it to help them keep on the path of their lives.
"The drug could make them feel better, so they should be able to take it," he said.
Tam said he hopes he gets the drug to be on the market sooner rather than later.
"The reality is that, at this time, we're not sure how many people are going to have any problems," he said.
Crestor sales have been growing since the launch of the drug, but it's not clear how much.Tam said the drug's price will likely be around $4,000 per year, or $8,000-$10,000 per year for brand-name drugs, based on the average cost of sales of the drug. But he said he expects Crestor sales will increase to $20,000-$30,000 per year for those who take the drug.
"That's what I hope is that it will happen faster," he said. "We're going to have to get patients on it more quickly and at a price that's reasonable."
Tam said he hopes for Crestor to reach $40,000 per year, but it's not clear how much that will happen, so he believes it's not possible to be certain how much it will cost.
"It's going to be hard to make that decision in the long run," he said.
Tam said he hopes to get his company to begin selling Crestor in the United States by the end of the year.
The company also has not given a reason for why the drug is not working well. The drug's manufacturer, Pfizer, declined to comment on the drug's sales. But Tam said he thinks there is a good chance Crestor sales will be around $5,000 per year.
Crestor is a prescription medicine used to lower levels of cholesterol and triglycerides in the blood. It is mainly used to lower levels of total cholesterol compared to other cholesterol-lowering drugs and to reduce the risk of stroke and heart attack in adults who cannot take antacids and have a poor circulation to get or keep an adequate amount of blood flow. It can also be used as a selective-killer to relieve headache, heart palpitations, shortness of breath, and rapid and uneven heartbeat. Crestor works by blocking at the type II 5 serotonin transporter, which is involved in the uptake and retention of serotonin in the brain. It can also affect the action of certain antidepressants. Do not take Crestor if you are allergic to Crestor, or have ever had an allergic reaction to any of the ingredients in the medication.
Lower levels of high-sensitivity renal cell tumors (coccidioidomycosis) in patients with familial fructose intolerance, who are at risk for liver disease and have a family history of fructose intolerance. Reducing the risk of fructose intolerance and related diseases such as celiac disease, hyperglycemia, and diabetic syndrome. Help reduce the risk of developing ketosis and liver cirrhosis. Discuss diet and exercise with your doctor to improve your chances of controlling your weight and swelling.
Common side effects: headache, stomach pain, hot flashes, blurred vision, muscle aches, nausea, and fatigue. Rarely, serious side effects include muscle pain or tenderness, mood changes, blood sugar problems such as hypokalemia (low potassium levels), low sodium levels, and muscle weakness. Contact your doctor immediately if you experience serious side effects, including severe weakness, confusion, hallucinations, or signs of liver problems such as fever, loss of appetite, dark urine, clay-colored stools, yellowing of the skin or eyes, jaundice (yellowing of the skin or eyes).
Take this medication by mouth as directed by your doctor, usually as needed. You can take it with or without food, although higher doses may be taken in severe cases.
You can take this medication with or without food, although higher doses may be taken in severe cases.
If you overdosing on Crestor, seek immediate medical attention. Do not take this medication more than once a day, even if you feel well. A single dose of Crestor may be enough to treat the problem.
Do not take Crestor if you are allergic to Crestor, have ever had an allergic reaction to any of the ingredients in the medication, or if you have liver disease. Do not take this medication if you are taking or have taken other medicines containing Crestor, including other calcium channel blockers, barbiturates, certain antidepressants, and HIV protease inhibitors. Ask your doctor about the signs and symptoms of liver problems and if you are worried about them.
Before taking Crestor, tell your doctor about all your prior conditions such as diabetes, high cholesterol, high blood pressure, high cholesterol, or high blood pressure. Crestor may cause low blood sugar and increased appetite. Ask your doctor about the use of antidiabetic medicines, including medicines called antidiabetic products.
Crestor should not be taken by pregnant or breastfeeding women. Crestor may pass into breast milk and may harm your baby. Do not use Crestor while breastfeeding.
: headache, stomach pain, hot flashes, blurred vision, muscle pain, and irregular heartbeat. Contact your doctor immediately if you experience serious side effects, including severe weakness, confusion, hallucinations, or signs of liver problems such as loss of appetite, dark urine, clay-colored stools, yellowing of the skin or eyes, jaundice (yellowing of the skin or eyes), and dark urine.
Common side effects include muscle pain or tenderness, mood changes, blood sugar problems such as hypokalemia (low potassium levels), low sodium levels, and muscle weakness. Contact your doctor immediately if you experience severe weakness or confusion. Do not take Crestor if you are taking or have taken other medicines containing Crestor, including medicines called antidiabetic products.
2023-08-13
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