Eli Lilly to stand on its SGX offer
INDIANAPOLIS Eli Lilly said yesterday it would pay no more than the $64 million it previously offered for the acquisition of SGX Pharmaceuticals, according to published reports.
Lilly agreed to buy the development-stage biotech company July 8 million. The offer was more than double the stock price at the time. SGX’s board of directors unanimously approved the merger, which is subject to a shareholder vote Aug. 20.
The deal is expected to give Lilly access to SGX’s pipeline of cancer drug candidates and its Focused Antisense Screening Technology, used in drug development.
The deal is expected to close in the second half of 2008.
Md. women’s college starts pharmacy school
BALTIMORE The College of Notre Dame of Maryland is applying for accreditation to open a pharmacy school for the women’s college by fall 2009.
It will be the first school of pharmacy at a women’s college in the United States.
The program will enroll 70 students per class and will be open to men and women. As with other pharmacy programs, applicants will have to complete a minimum of two academic years or 72 credits of pre-professional studies at an accredited college or university.
The college is starting a pharmacy school because women account for nearly 65 percent of pharmacy school enrollments. The college also would provide a focus on women’s health.
Arcadia reports positive DailyMed results
INDIANAPOLIS Arcadia HealthCare reports that its DailyMed prescription program with Indiana Medicaid is delivering results for the state consistent with its other payor programs.
DailyMed is a drug packaging system that puts patients’ prescriptions, over-the-counter medicines and vitamins into a roll of packets labeled with dates and times. The program also lets Arcadia pharmacists offer services to the patient such as drug regimen reviews.
The program is being offered to Medicaid members enrolled in the Care Select program, which allows about 70,000 Indiana Medicaid recipients with serious mental illnesses, developmental disabilities and chronic diseases to receive assistance in coordinating personalized health care. Care Select began to offer DailyMed May 19, and MDwise, which enrolls patients in the program, began June 4.
“On average, we spend about one hour on the initial consultation,” Arcadia President and CEO Marvin R. Richardson said. “It is not uncommon for us to encounter patients who take 20 or more pills per day and who may see four or more physicians/ specialists.”
“These types of patients are highly susceptible to adverse drug events,” he added. “DailyMed can help avoid those events, unnecessary hospitalizations, improve pharmaceutical care, maximize efficacy and save state taxpayers hundreds and possibly thousands of dollars per enrolled member.”
Arcadia HealthCare is the service mark of Indianapolis-based Arcadia Resources.