News

Canada’s Competition Bureau approves Loblaw’s acquisition of Shoppers Drug Mart

BY Antoinette Alexander

BRAMPTON AND TORONTO, Ontario — Loblaw and Shoppers Drug Mart have announced that the Competition Bureau has approved Loblaw’s acquisition of Shoppers Drug Mart, and the acquisition is expected to close March 28.

"We are pleased the Competition Bureau has concluded its review of this transaction, and to have its consent to bring these two great Canadian companies together," stated Galen Weston, executive chairman of Loblaw. "This merger uniquely positions Loblaw to meet the most important consumer trends in the country, including urbanization and health and wellness. In doing so, we will continue to deliver more choice, more value, and more convenience to Canadians."

As part of its agreement with the Competition Bureau, Loblaw will sell 18 stores and nine pharmacy operations. Loblaw does not anticipate any store closures as a result of these divestitures.

In the course of its review of the acquisition, the Competition Bureau expressed potential concerns about certain Loblaw supplier practices. The company stated that it will cooperate with the Competition Bureau in its continued review of these practices.

Loblaw and Shoppers Drug Mart announced on July 15 the definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Actavis enters into agreement with Noven Pharmaceuticals on Daytrana generic

BY Michael Johnsen

DUBLIN — Actavis earlier this week announced that it has entered into an agreement with Noven Pharmaceuticals to settle all outstanding patent litigation related to Actavis’ generic version of Daytrana (methylphenidate transdermal system). Daytrana is a CNS stimulant indicated for the treatment of attention deficit hyperactivity disorder.

Under the terms of the agreement, Noven will grant Actavis a non-exclusive, royalty-bearing license to market its generic Daytrana beginning on Sept. 1, 2015, or earlier under certain circumstances. Other details of the settlement were not disclosed.

Launch of Actavis’ product is contingent upon Actavis receiving final approval from the U.S. Food and Drug Administration on its Abbreviated New Drug Application. Based on available information, Actavis believes it may be a "first applicant" to file an ANDA for the generic version of Daytrana and, should its ANDA be approved, may be entitled to 180 days of generic market exclusivity.

For the 12 months ending Dec. 31, 2013, Daytrana had total U.S. sales of approximately $98 million, according to IMS Health data.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Merck’s dust mite allergy tablet expected to reach market in 2017

BY Michael Johnsen

NEW YORK — Danish pharmaceutical group Alk Abello, in association with Merck, expects to start selling its new dust mite allergy tablet in the United States in 2017, according to a Reuters report published Thursday

House dust mite-allergy is associated with allergic asthma and affects more than 30 million Americans.

Alk CEO Jens Bager told Reuters that studies in Europe and Japan show Alk’s HDM SLIT-tablet is able to reduce dust mite allergy symptoms significantly. 

Alk and Merck are developing tablets for pollen and grass allergies as well as the dust mite treatment, the report noted. 

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?