Endo completes Qualitest acquisition
CHADDS FORD, Pa. — Endo Pharmaceuticals has finished its acquisition of Qualitest Pharmaceuticals for $1.2 billion, Endo said Wednesday.
Endo had agreed to buy Qualitest, a privately owned manufacturer of generic drugs, on Dec. 28.
“This acquisition marks another milestone in the transformation of Endo and 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,” Endo president and CEO David Holveck said. “We believe this transaction provides Endo with an enhanced competitive position and critical mass in the generics market, further diversifying our business lines and product offerings and enhancing our portfolio of pain management products.”
Keryx: Zerenex reduces phosphate levels in patients on kidney dialysis
NEW YORK — Drug maker Keryx Biopharmaceuticals got promising results from a late-stage clinical trial of a drug for treating elevated phosphate levels, also known as hyperphosphatemia, in patients on kidney dialysis, the company said Tuesday.
In a phase-3 trial, Zerenex (ferric citrate) significantly reduced phosphate levels in patients with end-stage kidney disease on dialysis.
“Based on the results of this phase 3 study, it appears that the Zerenex efficacy and safety profile is emerging in a way that could make it the phosphate binder of choice for dialysis patients,” study program chairwoman and Vanderbilt University medical professor Julia Lewis said. “We are very excited to have taken this step forward towards bringing Zerenex to the patients who are in need of additional alternatives to the existing phosphate binders.”
Froesel to step in as BioScrip CFO
ELMSFORD, N.Y. — Specialty pharmacy provider BioScrip has appointed David Froesel as EVP, CFO and treasurer, the company said Wednesday. Froesel will begin immediately, replacing Stan Rosembaum, who plans to leave the company before the year ends.
Froesel previously worked at Omnicare, which provides pharmaceutical care services to the elderly, for close to 14 years, serving as SVP and CFO from March 1996 until December 2009. Before working for Omnicare, Froesel worked at Mallinckrodt Group for 18 years.
“We welcome David to the BioScrip team and are pleased to have an accomplished professional of his caliber leading our financial operations,” BioScrip president and COO Richard Smith said.