Ethical Generics Limited has been set up in the UK as an equally-owned joint venture of Bayer and US specialist generics group Schein Pharmaceuticals. Each company is putting in L1.5 million ($2.3 million) funding to start the operation. Bayer and Schein have or are in the process of setting up similar joint ventures in a number of other countries, such as Canada, South Africa, Spain, Germany and South America, and Japan and Korea are being considered.
The aim is to provide quality generics. The first product will be based on Bayer's calcium channel blocker nifedipine, a novel once-daily 30mg patented formulation (developed by Ethical Holdings of Cambridge), trade named Unipine XL, indicated for mild-to-moderate hypertension. This will be priced at L10.08 per 20 tablets, compared with the brand leader at L10.36. A dozen or so other products are expected to be launched this year, with a generic form of cimetidine probably next, and the company will later look at the hospital generics market.
Commenting on the situation to journalists, EGL's general manager, Roger Cuff, said the UK generics market was currently worth about L400 million (38% of volume and 12% value of the National Health Service drugs bill), but would grow to some L740-L750 million by the turn of the century. He predicted his company would then be number two in the market.
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