Apotex Sets Up Italian Generics Company

Canadian drugs company Apotex, along with the Italian Chiesi and Zambongroups, has formed DOC Generici, a generics pharmaceutical company to be headquartered in Milan, Italy. The three equal partners said the joint venture had been set up to ensure an early entry into the emerging generics business in Italy.

DOC Generici plans to apply for registration of some 20 products by the end of 1998, and begin sales in October next year. The first products will be supplied by Avonex, which is building a new plant in Canada to meet growing export demand. The facility, which will cost over C$100 million ($70.3 million), is due for completion in early 1999.

Generics account for about 2% of the total Italian pharmaceutical market, although true generic medicines are not available. The government is considering generic prescribing to reduce health care costs.