King Pharmaceuticals: PharmaVitae Profile

King Pharmaceuticals: PharmaVitae Profile

Introduction

This analysis examines the historical and forecast performance for King in the ethical pharmaceutical sector. The profile encompasses global company strategy, portfolio and pipeline analysis and assessment of financial performance, with 1-6 year sales forecasts for key drugs. An interactive forecasting and analysis tool provides continually updated quantitative and qualitative information.

Scope

Highlights

Reasons to Purchase

CHAPTER 1 EXECUTIVE SUMMARY 2
Key findings 2
Historical and forecast ethical sales performance 3
Therapeutic strategy 5
Launch and expiry outlook 7
Externalization, geographic and molecule type strategies 10
Externalization strategy 11
Geographic strategy 12
Molecule type strategy 12
SWOT analysis 13
Strengths 13
Weaknesses 14
Opportunities 14
Threats 15
CHAPTER 2 CORPORATE HISTORY 20
Key findings 20
Background 21
Key corporate developments 21
M&A history 22
Medco Research and Jones Pharma mergers 22
Acquisition of Meridian Medical Technologies and Elan's primary care business 22
Mylan Laboratories terminates acquisition agreement 22
Current corporate structure 23
Pharmaceuticals 23
Meridian Medical Technology 23
Current management team 24
CHAPTER 3 HISTORICAL PERFORMANCE 25
Key findings 25
Introduction 26
Revenue and growth rate analysis, 2001-06 26
Revenue and growth rate vs. peer set 27
Product analysis, 2001-06 29
Growth drivers 29
Skelaxin 29
Altace 30
Thrombin-JMI 30
Sonata 30
Growth resistors 31
Rest of portfolio 31
Operating revenue and cost analysis, 2001-06 32
Operating revenue/cost analysis 34
CHAPTER 4 FORECAST PERFORMANCE 36
Key findings 36
Introduction 37
Revenue and growth rate, 2006-12 37
Product analysis, 2006-12 39
Growth drivers 44
Altace HCTZ 44
Remoxy 44
Avinza 44
Growth resistors 45
Altace 45
Skelaxin 45
Thrombin-JMI 45
Sonata 45
Therapy area analysis, 2006-12 47
Therapy area growth drivers 49
Central nervous system 49
Therapy area growth resistors 50
Cardiovascular & hematology 50
Therapy area focus 50
Launches and expiries analysis, 2006-12 53
Launch portfolio 53
Avinza (morphine sulfate) 54
Altace HCTZ (ramipril + hydrochlorothiazide) 54
Remoxy (oxycodone) 55
Core portfolio 56
Expiry portfolio 58
Thrombin-JMI 58
Altace 58
Skelaxin 59
Sonata 59
Launch/core/expiry configuration 60
Externalization analysis, 2006-12 63
Geographic analysis, 2006-12 68
Molecule type analysis, 2006-12 72
CHAPTER 5 KEY PRODUCTS AND COMPETITORS 77
Key findings 77
Overview 78
Central nervous system 79
Avinza 79
Overview 79
Sales forecast 80
Newsflow 80
Current market assessment 81
Future market assessment 81
Remoxy 83
Overview 83
Sales forecast 84
Newsflow 84
Future market assessment 85
Competitive landscape 86
Opioid analgesics market dominated by key brands and generic competitors 86
The opioid class: potential for abuse 86
Skelaxin 87
Overview 87
Sales forecast 88
Newsflow 88
Current market assessment 89
Future market assessment 89
Cardiovascular & hematology 90
Altace 90
Overview 90
Sales forecast 91
Newsflow 91
Altace HCTZ 94
Overview 94
Sales forecast 95
Newsflow 95
R&D pipeline 97
CHAPTER 6 APPENDIX 98
IMS vs. company-reported data reconciliation 98
References 100
Abbreviations 101
List of Tables
Table 1: King's Corporate Executive Committee 24
Table 2: Peer set overview 27
Table 3: Operating revenue/cost analysis ($m), 2001-06 32
Table 4: Operating cost ratio analysis (% of total revenues), 2001-06 34
Table 5: Product portfolio overview, sales ($m), 2006-12 39
Table 6: Therapy area overview, sales ($m), 2006-12 47
Table 7: Launch portfolio overview, sales ($m), 2006-12 53
Table 8: Core portfolio overview, sales ($m), 2006-12 56
Table 9: Expiry portfolio overview, sales ($m), 2006-12 58
Table 10: Externally developed portfolio ($m), 2006-12 63
Table 11: Molecule type overview, sales ($m), 2006-12 72
Table 12: Key products overview 78
Table 13: Avinza: overview 79
Table 14: Avinza: sales forecast ($m), 2006-12 80
Table 15: Avinza: newsflow 80
Table 16: Remoxy: overview 83
Table 17: Remoxy: sales forecast ($m), 2006-12 84
Table 18: Remoxy: newsflow 84
Table 19: Skelaxin: overview 87
Table 20: Skelaxin: sales forecast ($m), 2006-12 88
Table 21: Skelaxin: newsflow 88
Table 22: Altace: overview 90
Table 23: Altace: sales forecast ($m), 2006-12 91
Table 24: Altace: newsflow 91
Table 25: Altace HCTZ: overview 94
Table 26: Altace HCTZ: sales forecast ($m), 2006-12 95
Table 27: Altace HCTZ: newsflow 95
Table 28: King Pharmaceuticals pipeline (Phase I-registration) 97
List of Figures
Figure 1: Historical and forecast ethical sales performance (% CAGR), King Pharmaceuticals and Mid Pharma peer set 3
Figure 2: Therapeutic focus vs. Mid Pharma peer set (%), 2006 5
Figure 3: Launch, core and expiry, absolute sales growth, 2006-12 (sales as % of 2006 sales), King Pharmaceuticals 7
Figure 4: Launch, core and expiry, absolute sales growth, 2006-12 (sales as % of 2006 sales), peer set 8
Figure 5: Key strategic products, sales ($m), 2006-12 9
Figure 6: Molecule type, externalization and geographic market dependency (%) vs. peer set, 2006 10
Figure 7: Molecule type, externalization and geographic market dependency (%) vs. peer set, 2012 11
Figure 8: SWOT analysis of King Pharmaceuticals 13
Figure 9: Current corporate structure 23
Figure 10: Revenue & growth rate (ethical sales) ($m), 2001-06 26
Figure 11: Ethical revenue ($m) and growth rate (%) vs. peer set, 2001-06 28
Figure 12: Growth drivers/resistor products of historical revenue performance ($m), 2001-06 29
Figure 13: Operating revenue/cost analysis ($m), 2001-06 33
Figure 14: Operating cost ratio analysis (% of total revenues), 2001-06 35
Figure 15: Ethical revenue ($m) and growth rate (%), 2006-12 38
Figure 16: Top five products by sales ($m), 2006 40
Figure 17: Top five products by sales ($m), 2012 41
Figure 18: Growth drivers and resistors by product, 2006-12 43
Figure 19: Key strategic products, sales ($m), 2006-12 46
Figure 20: Ethical sales by therapy area ($m), 2006-12 48
Figure 21: Growth drivers and resistors by therapy area ($m), 2006-12 49
Figure 22: Ethical sales by therapy area (%), 2006-12 50
Figure 23: Therapy area focus compared with peer set (% total ethical sales), 2006 51
Figure 24: Therapy area focus compared with peer set (% total ethical sales), 2012 52
Figure 25: Launch schedule, sales ($m), 2006-12 55
Figure 26: Core products sales growth ($m), 2006-12 57
Figure 27: Expiry schedule, sales ($m), 2006-12 59
Figure 28: Launch, core and expiry, sales ($m), 2006-12 60
Figure 29: Launch, core and expiry, absolute sales growth, 2006-12 (sales as % of 2006 sales), King Pharmaceuticals 61
Figure 30: Launch, core and expiry, absolute sales growth, 2006-12 (sales as % of 2006 sales), peer set 62
Figure 31: Externalization dependency, sales ($m), 2006-12 64
Figure 32: Growth drivers and resistors, externally vs. internally discovered products, sales ($m), 2006-12 65
Figure 33: Externalization dependency vs. peer set, % total sales, 2006 66
Figure 34: Externalization dependency vs. peer set, % total sales, 2012 67
Figure 35: Geographical sales breakdown ($m), 2006-12 68
Figure 36: Growth drivers and resistors by geography, sales ($m) 2006-12 69
Figure 37: US dependency vs. peer set, % total sales, 2006 70
Figure 38: US dependency vs. peer set, % total sales, 2012 71
Figure 39: Molecule type sales breakdown ($m), 2006-12 73
Figure 40: Growth drivers/ resistors by molecule type, sales ($m), 2006-12 74
Figure 41: Biologics dependency vs. peer set, % total sales, 2006 75
Figure 42: Biologics dependency vs. peer set, % total sales, 2012 76
Figure 43: IMS vs. company-reported ethical sales discrepancy ($m), 2006 99
Figure 44: IMS vs. company-reported ethical sales forecast growth rates (%), 2006-12 100