PHARMACY

Actavis-Allergan merger complete

BY Ryan Chavis

DUBLIN — Actavis last week announced that its acquisition of Allergan has been completed in a transaction valued at $70.5 billion, a deal that creates one of the world’s top 10 pharmaceutical companies by sales revenue, according to the company, adding that annual revenues exceeding $23 billion are anticipated in 2015.
 
"The combination of Actavis and Allergan creates an exceptional global pharmaceutical company and a leader in a new industry model – Growth Pharma," said Brent Saunders, CEO and president of Actavis. "Anchored by world-renowned brand franchises, a leading global generics business, a premier pharmaceutical development pipeline and an experienced management team committed to maintaining highly efficient operations across the organization, we are creating an unrivaled foundation for long-term growth.”
 
Saunders went on to say that the company’s generics business “continues to hold an industry-leading position in First-to-File opportunities in the United States and more than 1,000 marketing authorizations globally,” giving Actavis a competitive edge within the industry. 
 
As reported previously, Actavis is set to take on a new global name — Allergan — pending shareholder approval. 
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PHARMACY

Dr. Reddy’s to expand access to Hepatitis C drug

BY Ryan Chavis

HYDERABAD, India — Dr. Reddy’s Labs has entered into an agreement with Hetero, under which it will be licensed to distribute and market sofosbuvir tablets in 400-mg dosage strength. The drug is used to treat chronic hepatitis C (under the brand name Resof) in India.
 
Nearly 12 million Indians suffer from chronic hepatitis C, the company said, citing data from the World Health Organization. The disease can affect the liver, potentially causing serious complications. 
 
“Clinical studies have indicated that sofosbuvir 400 mg in combination with other agents achieved very high cure rates, while shortening the duration of treatment to as little as 12 weeks and reducing or completely eliminating the need for interferon injections, depending on the viral genotype,” the company said in a statement.
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Wright to lead business development at Teva

BY Ryan Chavis

JERUSALEM — Teva Pharmaceutical Industries on Monday announced that Timothy Wright will be heading business development, strategy and innovation for the company, effective April 13. In the role, Wright will identify key opportunities for innovation and growth. He will report to president and CEO Erez Vigodman.
 
“The addition of Tim to our leadership team complements the strong management capabilities we have in Teva. He has a wealth of global experience which will serve us well as we look to create a new and exciting future for Teva,” Vigodman said. “Tim is known for leading the transformation of large companies. His significant experience across various aspects of healthcare and unique perspective will enable us to realize our full potential at this critical time of change in the pharmaceutical industry."
 
Wright added: “It’s a rare opportunity to join a company that is brave enough to look for bold ways to create a new future. I feel privileged to have the ability to work with this leadership team to create value for our shareholders and make a significant impact in healthcare for people around the world.”
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