Financials show Icahn had sold his shares in Genzyme
CAMBRIDGE, Mass. Carl Icahn has apparently decided to leave Genzyme alone after regulatory filings released Thursday showed that the investor sold his shares in the company late last year, according to published reports.
Icahn’s investment firm, Icahn Capital Management, reported that it owned 1.5 million shares of Genzyme, or less than 1 percent of the stock, at the end of September, but sold its stake by the end of December. The filings didn’t indicate exactly when Icahn bought or sold the stock, but he likely turned a profit as Genzyme shares rose 20 percent in the fourth quarter, when Icahn sold his shares.
Genzyme had been getting pressure from Icahn to either sell off or break up the company, to which Genzyme chief executive Henri Termeer took offense and made it a priority to not bow down to Ichan.
Icahn, though, should not be worried; he has already won battles at some other biotech companies. He took control of ImClone Systems board in 2006. And last year, MedImmune agreed to sell itself to drug maker AstraZeneca for $15.6 billion after Icahn pushed for a sale. And now more recently, it is apparent he has his sights on Biogen Idec after he recently nominated three people for election to its board in late December.
IVoice announces patent on new product for easy medicine consumption
MATAWAN, N.J. iVoice has created a new product that will organize the way that patients consume pills. According to published reports, the invention is a medicine container that has speaking instructions.
iVoice has filed a patent application with the U.S. Patent and Trademark Office under the title, “Methodology for Wirelessly Loading Speaking Medicine Containers, with an internal clock.”
The new iVoice product contains an internal clock, which starts when a patient activates the audio playback that, with recurring use, creates a message that displays how many pills the patient should have left, and if that “predetermined amount” is not in the container, a warning is displayed for the patient to contact a doctor or pharmacist. Other features include a medicine container starting table count, required consumption data and self-programming.
FTC files complaint over Cephalon’s attempt at protection of Provigil market
WASHINGTON Cephalon is facing a lawsuit filed by antitrust enforcers regarding its Narcolepsy medicine, Provigil.
Provigil is Cephalon’s best-selling drug, and according to the Wall Street Journal, the civil complaint filed by the Federal Trade Commission stated that Cephalon was illegally delaying the sale of the drug by four rivals that were slated to produce and market the generic version of the drug. The sales of Provigil are a recorded $800 million per year.
According to the Wall Street Journal report, companies including Teva Pharmaceuticals, Ranbaxy Pharmaceuticals, Barr Pharmaceuticals, and Mylan Pharmaceuticals, were given a combined $200 million to push off the genetic version of their drug from market entry until 2012.
Cephalon denies any wrongdoing. “The transactions we reached met the letter and spirit of the law in every way,” Frank Baldino, Cephalon’s chief executive, said, “and we will litigate this matter, and we will prevail.”