Endo boosts portfolio with Qualitest acquisition
CHADDS FORD, Pa. Endo Pharmaceuticals will acquire generic drug maker Qualitest Pharmaceuticals for $1.2 billion, Endo said Tuesday.
Endo said the purchase of privately owned Qualitest would expand its offering of branded drugs, generics, devices and services in areas such as pain and urology. Qualitest is the sixth largest generic drug company in the United States, as measured by prescriptions filled.
“This is an exciting day for Endo,” Endo president and CEO David Holveck said. “The acquisition of Qualitest accelerates our stated strategy of building a diversified healthcare company better able to respond to the changing economics that drive the U.S. healthcare environment.”
Rite Aid kicks off diabetes management campaign
CAMP HILL, Pa. Rite Aid is supporting the American Diabetes Association by hosting diabetes management events in its stores nationwide in line with American Diabetes Month in November.
More than 4,700 Rite Aid stores now through Dec. 25 will offer free 20-page diabetes guides at the pharmacy counters, as well as Diabetes Solutions Days, offering customers free blood-glucose, cholesterol, blood-pressure screenings and body mass index readings. Additionally, Rite Aid is offering the American Diabetes Association’s diabetes risk test online, and is offering Wellness+ customers the opportunity to earn 10 points when they take the test, in addition to $5 off their next purchase when they spend $30 on select diabetes products during the three-month campaign.
Rite Aid’s focus on diabetes management is part of its year-long commitment to patient health and wellness. Each year Rite Aid offers free information, answers and guidance on such health-and-wellness topics as weight management, heart health, allergy awareness, skin care and oral care.
“There’s a misconception that diabetes is life altering but not life threatening. Unfortunately, this isn’t true. Diabetes doubles the risk of heart attack or stroke and kills more Americans each year than breast cancer and AIDS combined,” said Robert Thompson, Rite Aid EVP pharmacy. “That’s why it’s so important for us to empower our patients and associates to help fight this devastating disease.”
Q&A: A dose of generic Meda-cine
Many generic drug companies have long marketed branded drugs on the side, but lately, some branded drug companies have sought to enter the generics business as well. One of those companies is Meda Pharmaceuticals, the U.S. subsidiary of Swedish drug maker Meda AB. Drug Store News recently interviewed John White, Meda’s senior director of marketing.
Drug Store News: What gave Meda the idea of pursuing generics?
John White: Generic medications account for roughly 3-in-4 prescriptions dispensed across the United States. Meda has made the strategic decision to serve this large and growing segment of the market by forming Wallace Pharmaceuticals, a wholly owned subsidiary of Meda Pharmaceuticals. The strategy demonstrates Meda’s efforts to diversify, align and better serve the needs and interests of our customers. We believe our ability to provide consistency in therapeutic effect, manufacturing and supply to our parent company’s branded products will prove to be a competitive advantage for Wallace Pharmaceuticals.
DSN: Considering that the available pool of blockbuster drugs coming off patent is getting smaller, how does Meda plan to use generics to drive growth for the company overall?
White: There is a significant opportunity for continued growth of generic prescription products in healthcare reform, and Wallace is well-positioned to become a preferred supplier of high-quality, high-value generic medicines. Wallace Pharmaceuticals creates an additional platform for Meda’s portfolio growth across therapeutic categories in which we will seek to introduce products where current and future market needs exist.
DSN: On what therapeutic areas do you plan to focus?
White: Wallace is launching with a core portfolio of Meda’s well-known allergy and pain medicines, and will be announcing additional product introductions in the upcoming months.
DSN: In what markets do you plan to concentrate business?
White: Efforts to launch Wallace Pharmaceuticals will be focused in the United States.
DSN: What about biosimilars?
White: We have no plans at this time.