Fitch: Fitch-rated Global Pharmaceutical Cos May File 23 New Drugs by End of the Year
CHICAGO & LONDON, Jun 21, 2010 (BUSINESS WIRE) -- According to Fitch Ratings' new Global Pharmaceutical R&D Pipeline report, a total of 23 new drug filings may be made to drug authorities by the end of the year. In the first quarter of 2010, the U.S. Food & Drug Administration (FDA) approved six new molecular entities (NMEs) and one vaccine while the European Medicines Agency (EMEA) authorized the marketing of five NMEs and two vaccines. Fitch-covered drug developers were responsible for five of the total pharmaceutical and vaccine approvals by the DA and EMEA during the quarter.
According to the report, since the start of the year, 10 NMEs have been added to the late-stage research portfolios of the Fitch-rated pharmaceutical companies, including six through internal research programs and the remainder derived from business development activities. Fitch still anticipates that licensing arrangements for drug candidates will be favored over industry consolidation during 2010.
The positive sales trend from the end of 2009 continued into the first quarter of 2010 given signs of recovery from the global recession in various countries. The Fitch-rated pharmaceutical companies generated weighted average revenue growth of 6.2% in the first quarter, adjusting for currency changes and major consolidation in the fourth quarter of 2009 involving Pfizer and Merck. Twelve of the 13 European and U.S. drug marketers listed in the report achieved net sales growth of their pharmaceutical portfolios in the quarter.
The special report, 'Global Pharmaceutical R&D Pipeline - First-Quarter 2010', includes the most current, key late-stage R&D brand-name pharmaceutical projects, as well as up-to-date financial measures that reflect the risks facing pharmaceutical developers. Recent market introductions of innovative and generic drug products are highlighted as well. The intent of the regular update is to keep investors informed of the dynamics of the brand name pharmaceutical portfolios of the major U.S. and European participants in the industry. The report is now available at 'www.fitchratings.com' .
Additional information is available at 'www.fitchratings.com' .
Related Research: Global Pharmaceutical R&D Pipeline - First-Quarter 2010
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=534265
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS . IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM' . PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.