>Pan-European Pharmaceuticals (MERRILL LYNCH)

Competitive analysis of major therapeutic classes
We provide a monthly competitive market share and growth analysis of the major therapeutic drug classes of interest to investors for the US market. We use monthly prescription data for retail and mail order pharmacies sourced from IMS.

New product approvals and patent expiries
We highlight key upcoming product approvals, patent expires and other events that could impact class dynamics.

Market shares, growth rates and sales forecasts
We highlight category market shares, total prescription growth rates and, where applicable, BofA Merrill Lynch sales forecasts.

U S drug market 4.1% in March (actual), 1.8% (adjusted)
On an actual basis, the US prescription drug market was up 4.1% in March, versus down 0.5% in February and 2.7% 12 month MAT growth. On an adjusted basis (which takes into account the number of days in a given month for a yearon- year comparison), March volumes were up 1.8% versus February volumes down 0.5%.

Key Highlights this month
Key highlights this month include the following:
1) Cozaar / Hyzaar- FDA approved the first generic equivalents of Merck’s ARBs Cozaar (Losartan Potassium) and Hyzaar (Losartan Potassium/HCTZ combo) 6 April 2010. Whilst Teva has 180-day exclusivity for its generic Cozaar and Hyzaar, Sandoz launched authorised generics of both in the US on 8 April 2010.

2) Bydureon (Byetta LAR) – Amylin’s partner (Lilly) submitted an MAA to the European Medicines Agency for Bydureon on 18 April 2010. Following the FDA CRL for Bydureon in March, Amylin expects to make its response imminently.

3) Duodart - GSK's fixed dose combination of Avodart/Flomax was granted European approval 31 March 2010. The Flomax patent expires on 27th April 2010.

To read the full report: PAN EUROPEAN PHARMACEUTICALS