News

Federal court upholds $1.7 billion patent award to J&J’s Centocor

BY Alaric DeArment

NEW YORK A U.S. District judge has upheld a verdict against Abbott Labs that could require the drug maker to pay nearly $1.7 billion to Johnson & Johnson, according to published reports.

The U.S. District Court for the Eastern District of Texas upheld a $1.67 billion judgment last week against Abbott – the largest award ever given in a patent-infringement case – that a federal jury in Texas delivered in June regarding the drug Humira (adalimumab), used to treat inflammatory autoimmune disorders and Abbott’s top-selling drug, with $4.5 billion in global sales in 2008, according to Abbott financial data.

J&J had alleged that Abbott developed Humira using technology for which J&J co-owns a patent with New York University and that J&J had used to develop the competing drug Remicade (infliximab).

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Rite Aid to auction surplus properties

BY Michael Johnsen

TULSA, Okla. Williams & Williams, a real estate auctioneer, on Tuesday announced it will auction 34 surplus real estate properties in 14 states for Rite Aid via single property auction events Dec. 8 to 10.

“Auction is a time-definite sale that secures real-market value through free market competition,” stated Pam McKissick, president and COO of Williams & Williams. “Auctioning these assets via our global platform will deliver the maximum benefit to Rite Aid Corp.”

Each auction will be conducted through Williams & Williams’ exclusive Live From The Lawn auction platform, in partnership with Auction Network, which enables interested buyers around the world to compete in real time while bidding on site or online.

The properties include a shopping center adjacent to the Las Vegas strip, commercial and residential properties, retail properties and land parcels.

Rite Aid Surplus Property auctions will be held in the following states: Alabama, California, Connecticut, Indiana, Louisiana, Maine, Michigan, North Carolina, New Jersey, Nevada, New York, Ohio, Pennsylvania and South Carolina.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

CVS Caremark partners with Generation Health

BY Antoinette Alexander

WOONSOCKET, R.I. CVS Caremark is partnering with Generation Health, a genetic benefit management company, to expand pharmacogenomic clinical and testing services for CVS Caremark’s PBM clients who are either nonresponsive or who have adverse reactions to their medications.

As part of the agreement, CVS Caremark is making a minority equity investment in Generation Health. Financial terms of the partnership were not disclosed. Troyen Brennan, M.D., EVP and chief medical officer of CVS Caremark, will join Generation Health’s board of directors.

CVS Caremark currently provides PGx intervention services in its specialty pharmacy business but this partnership expands upon those offerings to specialty pharmacy and introduces them for targeted drugs dispensed under the traditional PBM setting. The new pharmacogenomic clinical services are expected to be introduced to CVS Caremark’s PBM clients in the second quarter 2010.

“Personalized medicine is a fast-growing field, but the process for providing relevant and systematic clinical delivery of service needs to improve and evolve,” stated Brennan. “We will integrate Generation Health’s unique skills in genomic medicine with the experience in benefit management of both companies to provide clients with a sophisticated, evidence-based clinical approach.”

The proper application of pharmacogenomic medicine can help doctors evaluate a patient’s genetic make-up to determine whether a specific medication will be effective. Medical studies have found that in some instances, people get little benefit and even face harmful and costly side effects from medications they take. Through this partnership CVS Caremark will use genetic testing to apply greater precision to client prescription management.

Initially, the companies will focus on PGx clinical and testing programs that predict how a patient will respond to medications in areas of oncology, cardiovascular, medicine, treatment of HIV and others.

The programs can help prevent disease progression and avoid recurrences, as well as help reduce overall medical costs by determining where some therapies will not be effective. That information allows doctors to determine and prescribe the most precise medication therapy treatments for their patient’s treatment.

Going forward, the companies will explore programs in the medical diagnostics arena to encourage appropriate and cost-effective testing for certain hereditary diseases, and eliminate unnecessary testing where evidence for clinical validity and utility is lacking.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?