Pfizer shares rise by 7% after marketing and sale pact with Mylan for two neuro therapy brands

Mylan has a good presence in Central Nervous System therapy area, with 'skilled resources' for super specialists such as Neurologist and Psychiatrist. Pfizer calls both these brands as leading brands in their respective markets.

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Shares of Pfizer are finding buying interest on February 24, rising as much as 7% after the pharma company signed a domestic marketing and sale pact for two brands of with Mylan Pharma, namely Ativan and Pacitane.

The marketing and supply agreement is for a period of five years for India only, to enhance distribution and in clinic presence of the two products. The drugs sold in India could possibly be sourced from Mylan’s manufacturing hubs in India or imported from their global network, as specifics have not been made public yet.

Mylan has a good presence in Central Nervous System therapy area, with 'skilled resources' for super specialists such as Neurologist and Psychiatrist. Pfizer calls both these brands as leading brands in their respective markets.

"Pacitane leads in its therapeutic category with 67% market share. Ativan is one of the largest anxiolytic brands in the Benzodiazepine Tranquilizer market with 6% market share, despite facing out of stock situations," Pfizer had said in its annual report for FY24.

Pfizer has a market capitalization of over Rs 20,000 crore and the shares are starting to rebound for its one year, though still down by 1.4% compared to a year ago.

In FY22, Pfizer Limited had entered into a business transfer agreement with Mylan Pharma to transfer certain primarily off-patented and generic medicines business (Upjohn Business) for Rs 180.48 crore.

For the year, Pfizer Inc has reaffirmed its guidance for 2025 of $61-64 billion in revenue, and said in its recent earnings call that it is confident to return to pre-pandemic operating margins in the coming years.

Domestic pharma has been cautiously watching the decisions by US administration, after President Trump announced plans for reciprocal tariffs on Indian pharma exports to America, which amounts to $8 billion in a year. Overall, India's pharma exports has a target of $29 billion for this fiscal.