PHARMACY

CVS Caremark taps Brennan as executive VP, chief medical officer

BY Antoinette Alexander

WOONSOCKET, R.I. CVS Caremark has appointed former Aetna executive Troyen Brennan as executive vice president and chief medical officer.

In this newly created role, Brennan will be responsible for MinuteClinic, Accordant Health Care, clinical and medical affairs, and health care strategy.

Most recently, Brennan served as chief medical officer for Aetna, the nation’s third largest health insurer. At Aetna, Brennan was responsible for clinical operations, national quality management, disease management and other programs. Before Aetna, Brennan was president and chief executive officer of Brigham and Women?s Physicians Organization in Boston, and also previously served that hospital as director of quality measurement and improvement. He is a member of the Institute of Medicine of the National Academy of Sciences.

“Troy Brennan is a highly regarded national health care expert who not only understands the challenges of health care today, but has hands on experience with all aspects of the health care delivery system. As a former practicing physician, hospital administrator with background in quality care measurement, and leader of a top health care insurer, Troy’s experience will help strengthen our company’s integrated approach to improving access, affordability and quality of care,” said Tom Ryan, chairman, chief executive officer and president of CVS Caremark. “He is a great addition to our management team.”

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FDA raises questions about efficacy of pain medication tamper-proofing

BY Alaric DeArment

NEW YORK Questions have arisen as to whether a pill by Pain Therapeutics and King Pharmaceuticals is resistant to tampering.

A memo by the Food and Drug Administration Monday concerns the drug Remoxy, a formulation of oxycodone that uses liquid capsule drug-delivery technology designed to prevent misuse of the drug. Some people have abused oxycodone tablets by crushing them, dissolving it in water and then injecting it for its opiate-like effects.

The FDA’s memo said that Pain Therapeutics did not sufficiently conduct long-term tests of Remoxy to determine whether the oxycodone could be extracted and diverted, though Pain Therapeutics disputes that claim.

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Titan releases earnings report for Q3 2008

BY Alaric DeArment

SOUTH SAN FRANCISCO, Calif. Titan Pharmaceuticals has released financial results for third quarter 2008.

Total operating costs for the quarter, which ended Sept. 30, were $6 million, compared with $4.6 million for third quarter 2007, the company said. Net loss for the quarter was $5.9 million, compared to $4.3 million last year; losses in both cases totaled 10 cents a share. The increase in operating costs resulted mostly from an increase in research and development funding related to development of the opiate addiction treatment Probuphine (buprenorphine) and a slight increase in general and administrative costs.

“We have continued to streamline our expenses and focus our resources on the phase 3 clinical development of Probuphine,” Titan president and chief executive Marc Rubin said. “During the third quarter, we have engaged in discussions with several potential partners both in the U.S. and Europe, and we are continuing these efforts as we evaluate strategic alternatives for the company.”

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