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FDA approves Sagent drug

BY Alaric DeArment

SCHAUMBURG, Ill. — The Food and Drug Administration has approved a generic skeletal muscle relaxant made by Sagent Pharmaceuticals, Sagent said.

The generic drug maker announced the approval of orphenadrine citrate injection, which it will offer in 60-mg-per-2-mL, single-dose vials.

Various versions of the drug had sales of about $4.3 million in 2011, according to IMS Health.

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CVS Caremark Charitable Trust, CVS/pharmacy support Irene relief efforts

BY Antoinette Alexander

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust, the private foundation managed by CVS Caremark, is helping to support the relief efforts for communities along the East Coast impacted by Hurricane Irene by donating $75,000 to the American Red Cross and distributing thousands of dollars worth of supplies to local residents.

"As a company whose roots are in the East Coast, we know firsthand that thousands of our colleagues and millions of our customers and clients have been affected by Hurricane Irene," stated Eileen Howard Boone, SVP of corporate communications and community relations at CVS Caremark. "We are providing our support to the critical disaster relief activities of the American Red Cross, and our stores remain committed to aiding in the recovery efforts in our communities."

In addition to its donation to the American Red Cross, CVS/pharmacy is distributing more than $30,000 in water, ice and other supplies to local residents in Manteo, N.C., and Margaretville, N.Y. — two hard-hit communities. Plans for product donations in additional communities are under way.

Because the CVS/pharmacy in Margaretville sustained catastrophic water damage, the building had to be torn down. In order to ensure that the community continues to have access to pharmacy services, CVS/pharmacy is making daily prescription deliveries to Margaretville from the most closely located CVS in Walton, N.Y., approximately 30 miles away. CVS/pharmacy also is bringing a mobile pharmacy trailer to West Lebanon, N.H., as a temporary replacement for a store that is closed indefinitely due to water damage.

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Pfizer extends tender offer to acquire Icagen

BY Allison Cerra

NEW YORK — After entering a definitive agreement to acquire biopharmaceutical company Icagen, Pfizer has extended its tender offer for all outstanding shares of common stock.

Pfizer, which already has an 11% stake in Icagen, is offering the company a cash transaction of $6 per share. The tender offer, which was extended to Icagen through Pfizer’s wholly owned subsidiary Eclipse Acquisition, expires at midnight on Sept. 1.

All other terms and conditions of the tender offer remain unchanged.

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