Endo subsidiary to buy Boca Pharmacal for $225 million
MALVERN, Pa. – A subsidiary of Endo Health Solutions is buying Boca Pharmacal for $225 million, Endo said Wednesday.
The Malvern, Pa.-based drug maker said the acquisition, through its Qualitest generics subsidiary, would give it access to a "unique" portfolio of generic drugs, an attractive pipeline and would build on Qualitest’s strength in controlled substances. Boca focuses on niche areas, commercializing and developing drugs that include controlled substances, semisolids and solutions.
"The acquisition of Boca Pharmacal is the first of several transactions we expect to execute as we transform Endo into a more focused specialty healthcare company with a lean operating model, able to deliver consistent earnings and revenue growth for our shareholders," Endo CEO Rajiv De Silva said. "The acquisition is aligned with our current generics footprint and will meaningfully accelerate the growth of Qualitest in 2014. I believe that the revenue and earnings contribution of this transaction, combined with the unique commercial portfolio and strong pipeline of ANDAs, make this an ideal fit."
TruTag named Technology Pioneer by World Economic Forum
HONOLULU — A company that has developed an edible security platform for addressing the global problem of counterfeit foods and medicines has been named a 2014 Technology Pioneer by the World Economic Forum.
TruTag Technologies, based in Honolulu, said the award is given to companies that design, develop and deploy new technologies holding promise or significantly affecting the way business and society operates. TruTag was one of 36 companies around the world to receive the distinction from the World Economic Forum, which will have its annual "Summer Davos" Meeting of the New Champions 2013 in Dalian, China, next month. Past winners have included Twitter and Google.
"With their ability to profoundly affect the world’s current counterfeit crisis, TruTag Technologies is a great fit for the Technology Pioneer awards," Stanford University entrepreneurship professor and past Technology Pioneer awards judge Tom Byers said. "Technology Pioneer candidates are evaluated by the world’s leading technology experts in a rigorous selection process. This selection distinguishes TruTag Technologies as a global innovator and disruptor."
The meeting is considered the foremast global business gathering in Asia, attracting heads of state, heads of multinational corporations and CEOs of fast-growing companies.
"It is a great honor for TruTag to be selected as a Technology Pioneer by the World Economic Forum," TruTag chairman Hank C.K. Wuh said. "I am looking forward to discussing the role of innovation for the future of society and sharing our vision for TruTag to impact the global counterfeit problem, especially in the area of safety and authenticity of food and medicine where the impact of counterfeits on human lives is beyond measure."
Boots’ No7 introduces Lift & Luminate Day & Night Serum
NEW YORK — Building on the international success of the Protect & Perfect and Protect & Perfect Intense Serums, No7 from Boots has introduced Lift & Luminate Day & Night Serum.
The two-step system targets the three main signs of aging — uneven skin tone, the appearance of lines and wrinkles and loss of skin firmness — and according to the company, is clinically proven to diminish the appearance of age spots. It will appear in stores in September.
The serums include new scientific discoveries in skin lightening identified by Dr. Mike Bell, scientific skin care adviser for Boots, and his team. The discovery was then published in Experimental Dermatology. The formula reduces the appearance of lines and wrinkles and leaves skin feeling firmer, visibly lifted and with a more even skin tone.
In an eight-week user trial in November 2012, the feedback from 76 respondents after four weeks was:
- 90% noted their general pigmentation was less noticeable;
- 84% said lines and wrinkles were less visible in four weeks;
- 90% said their skin texture looked improved;
- 82% noticed their skin feels firmer; and
- 82% said their skin was younger-looking.
In addition, in only eight weeks, women said their age spots appeared faded by up to 50% of their original shade.
Priced at $24.99, Lift & Luminate Day & Night Serum will be available in the United States on Sept. 1 at Target stores nationwide, on Target.com, us.boots.com, Walgreens.com and select Walgreens locations. The serum has earned the Good Housekeeping Seal and is part of the complete Lift & Luminate skin care range, which includes day, night and eye creams, as well as foundations.