Dr. Reddy’s to buy GSK’s penicillin site
HYDERABAD, India A generic drug maker has entered an agreement to purchase another drug maker’s U.S. penicillin site.
Dr. Reddy’s and GlaxoSmithKline have inked a deal in which GSK will transfer ownership of its penicillin manufacturing site in Bristol, Tenn., and rights for the Augmentin and Amoxil brands in the United States to Dr. Reddy’s, an India-based drug maker.
This transaction is expected to close within the first half of calendar year 2011. Further financial terms and conditions of the agreement were not disclosed.
“We are excited about this acquisition, as it allows us to enter the United States’ penicillin-containing antibacterial market segment and serve the needs of our customers and patients through manufacturing capabilities that did not previously exist within Dr. Reddy’s,” said Abhijit Mukherjee, president of global generics for Dr. Reddy’s. “This acquisition is in line with our strategy to significantly scale up our generics business in North America while providing an opportunity to explore additional synergy with our other businesses.”
Dr. Reddy’s launches generic Accolate
HYDERABAD, India Indian generic drug maker Dr. Reddy’s Labs has launched a version of an asthma drug for the U.S. market, the company said.
Dr. Reddy’s announced the launch of zafirlukast tablets in the 10-mg and 20-mg strengths. The drug is a version of AstraZeneca’s Accolate, which had sales of $50 million during the 12-month period ended in August, according to IMS Health.
The launch follows a decision in the U.S. District Court of New Jersey determining that the Dr. Reddy’s launch of the drug does not infringe on AstraZeneca’s patents. The Food and Drug Administration approved the drug last Thursday.
Steven Miesowicz appointed to new role at Diplomat Specialty Pharmacy
FLINT, Mich. Diplomat Specialty Pharmacy has promoted Steven Miesowicz to VP human resources, planning and government relations, the company said Monday.
Miesowicz previously served as the company’s senior director for human resources and as a business management consultant. He had a large role in securing the Michigan Economic Growth Authority tax credit that the company received in connection with the relocation to its new Flint, Mich., headquarters.
In his new position, Miesowicz will be responsible for human resources, strategic planning, organizational development, leading acquisition teams and working with government agencies, the company said.
“Steven brings a broad range of skills and experience that complements our core abilities and positions us for the future,” Diplomat president and CEO Phil Hagerman said.