PHARMACY

AmeriCares honors Cardinal Health with Power of Partnership award

BY Allison Cerra

STAMFORD, Conn. A nonprofit international disaster relief and humanitarian aid organization awarded its annual Power of Partnership Award to one of the largest healthcare products and services companies in the world.

AmeriCares president & CEO Curt Welling presented the award, co-created by Healthcare Distribution Management Association, at HDMA’s Annual Leadership Forum in Orlando, Fla., to Cardinal Health for its committment to expanding access to medicines and health care for disadvantaged populations.

Since 1996, Cardinal Health has donated more than $20 million worth of medical and surgical supplies to AmeriCares for people recovering from devastating natural disasters, facing civil conflict and suffering from extreme poverty.

Over the years, AmeriCares has delivered Cardinal Health products to people in need in 83 countries through its emergency response work, Medical Outreach Program and ongoing shipments to hospitals and clinics in the developing world.

“We are pleased to partner with AmeriCares to honor the Cardinal Health team for its extraordinary commitment to delivering lifesaving medicines, products and services to those in need,” said HDMA president and CEO John M. Gray. “Our recent economic climate underscores the value of efforts of HDMA members like Cardinal Health, whose humanitarian leadership strengthens partnerships across the entire health care supply chain.”

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Abbott reports Q3 results

BY Alaric DeArment

ABBOTT PARK, Ill. Drug maker Abbott reported strong sales in its third-quarter 2009 earnings report Wednesday.

The company reported an increase of 8.4% in global sales, which remained at 3.5% when factoring in the rise in the value of the dollar. Excluding the dollar’s rise, pharmaceutical sales were 3.9%, but dipped into the red, to -1.6%, when including foreign exchange rates. Nutritional and medical products had much stronger sales – 11.1% and 9.8%, respectively – when the dollar’s value was included.

“Abbott is performing well, generating higher-than-expected earnings growth in the fourth quarter,” Abbott chairman and CEO Miles White said in a statement. “During the quarter, we announced several acquisitions that support our long-term growth strategy. These acquisitions add to our diverse mix of global businesses, with new technologies, established products and emerging market infrastructure that will help us deliver sustainable industry-leading growth.”

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Mylan, Pfizer settle drug dispute

BY Alaric DeArment

PITTSBURGH Generic drug manufacturer Mylan and pharmaceutical giant Pfizer have settled a dispute over Mylan’s attempt to manufacture a generic version of an antifungal drug.

Mylan announced Wednesday that it had entered a license agreement with Pfizer concerning Mylan subsidiary Matrix Labs’ voriconazole tablets in the 50-mg and 200-mg strengths, a generic version of Pfizer’s Vfend. Matrix had filed a regulatory approval application with the Food and Drug Administration; as the first company to file the application, Mylan will have the right to market its version in direct competition with Pfizer’s product for six months once the patent expires. Under the agreement, Mylan will have the right to market voriconazole tablets in the U.S. in first quarter 2011.

Vfend, used to treat yeast and other fungal infections, had sales of $164 million during the 12-month period ending June 30, according to IMS Health data.

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