Goodwin (JD Supra Ireland)
Biosimilar Buyouts: AbbVie Buyout of Allergan Receives Approval of Irish High Court; Gedeon Richter Buys Tocilizumab Biosimilar
On May 8, 2020, AbbVie announced that it completed its acquisition of Allergan plc, having received approval by the Irish High Court. AbbVie and Allergan had previously announced, on May 5, 2020, that the U.S. Federal Trade Commission accepted the proposed consent order in connection with the acquisition.
Ireland's Department of Health is Requesting Comments Regarding Its National Biosimilars Medicines Policy
Ireland’s Department of Health (the “Department”) recently reported on its website that it is “developing a National Biosimilar Medicines Policy to promote the use of biosimilar medicines and to create a sustainable environment for biological medicines in Ireland.” The Department is now asking the public for its views regarding the use of biosimilars in Ireland.
Update on Ireland’s Framework Agreement
Last fall, we reported on Pfizer’s 30% price cut to Enbrel® (etanercept) to comply with Ireland’s Framework Agreement on the Supply and Pricing of Medicines, which requires price reductions for off-patent branded biologic medicines for which biosimilars are available. Yesterday, the Irish Times published a follow-up article describing some of the market effects of the Framework Agreement.
Pfizer to Lower Price of Enbrel in Ireland
The Irish Times reports that Pfizer will be cutting the price of Enbrel® (etanercept) on November 1st. Pfizer is cutting its price to comply with Ireland’s Framework Agreement on the Supply and Pricing of Medicines (the “Framework Agreement”), which, starting August 1, 2016, set new pricing rules for medicines supplied to or reimbursed by Ireland’s Heath Services and hospitals.