Actavis, Sagent partner to develop and market injectable drugs
MORRISTOWN, N.J. Actavis and Sagent Pharmaceuticals have agreed to develop and market a group of injectable drugs in the United States, Actavis announced.
Under the agreement, Actavis will develop the drugs, seek Food and Drug Administration approval for them and supply them, while Sagent will market them. Financial terms of the deal were not disclosed.
“Actavis’ impressive injectable pipeline, substantial development and supply capabilities and excellent record of execution make Actavis an outstanding partner Sagent,” Sagent CEO and board chairman Jeffrey Yordon said in a statement. “This collaboration complements Sagent’s strategy by quickly adding products to our marketed portfolio, and we look forward to working with Actavis to expand our collective portfolio.”
Reports: Billionaire investor seeks to push out Genzyme CEO
NEW YORK Billionaire investor Carl Icahn is trying to kick Genzyme CEO Henri Termeer off the company’s board of directors, according to published reports.
The New York Times reported this week that Icahn had filed a proxy statement with the Securities and Exchange Commission saying he wanted to replace four of the company’s executives, calling the company “broken.” The biotech manufacturer has recently faced manufacturing problems leading to shortages of two of its drugs.
On Thursday, Genzyme announced that it would buy back $2 billion worth of stock and also seek to offload its genetic testing, diagnostic products and pharmaceutical intermediates businesses by spinning them off, divestiture or management buyouts.
“Genetics and diagnostics are strong businesses that are both leaders in their fields,” Termeer said. “However, as we evaluated our company to create a mix of businesses that will delivery sustainable growth and stronger returns on invested capital, it became clear that these businesses do not fit within this strategy.”
Whole Foods Market opens new flagship in Southern California
TARZANA, Calif. Whole Foods Market announced that it is opening its newest flagship store in Tarzana, Calif.
According to company, the 30,000-sq.-ft. sales floor will feature all the local, natural and organic products that Whole Foods Market customers expect plus a collection of specialties designed to bring the community’s favorite international flavors to Whole Foods Market’s newest location. The store will feature sit-down eateries, a wine bar and the largest olive bar in Los Angeles, according to Whole Foods.
“On behalf of the store’s 200 team members and our local businesses, farmers and vendor partners, I would like to thank the Tarzana community for the warm welcome,” said George Khoury, Whole Foods Market Tarzana store team leader. “We are proud to be a part of this exciting and unique neighborhood and look forward to building strong relationships with our neighboring businesses and families. We hope to be more than your local grocery store — we’d love to be your neighborhood gathering place.”