The FDA issued a hit list Tuesday of off-patent meds with no competition, hoping to spur generic challengers. While the move could take a toll on a number of drugmakers—including Pfizer and J&J—it may hit Valeant particularly hard.
A host of the Canadian drugmaker’s products appeared on the 10-page list, Wells Fargo analyst David Maris pointed out in a Tuesday afternoon note to clients—some of them substantial contributors to Valeant’s top line. Together, the 19 products flagged by the FDA generated more than $713 million in revenue last year. Considering Valeant’s sales struggles and debt woes, that’s a significant threat.
“Our review shows no company in our coverage universe is more exposed to this new FDA effort than Valeant,” Maris wrote.
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