Pharma Res to market generic Prozac

Pharmaceutical Resources hopes to compete in the antidepressant capsulemarket with a generic version of Eli Lilly's Prozac (fluoxetine), which it intends to launch in the third quarter of this year. This follows a decision by the US Court of Appeals which reduced Lilly's period of exclusivity from 2003 to later this year (Marketletter August 21, 2000).

Pharmaceutical Resources believes it will receive six months' exclusivity as the only marketer of fluoxetine 10mg and 20mg tablets, developed through a partnership with Merck KGaA, and 40mg tablets, which it has licensed from Dr Reddy's Laboratories of India. This is a similar claim to that made by Barr Laboratories last week, which said that it expects to receive six months' generic exclusivity for its fluoxetine 20mg capsule, which it plans to launch on August 2 (Marketletter June 4).

Shares of Pharmaceutical Resources rose 15.4% on May 31 to a 52-week high of $23.35. Last year, Prozac had sales of more than $2.5 billion and turnover continued to rise in the first quarter of 2001, but as several generics hit the market next year, total revenues of Lilly's drug are expected to decline as much as 80%.