Forest Labs buys specialty drug maker Aptalis
NEW YORK — Forest Labs will buy privately owned drug maker Aptalis for $2.9 billion, Forest said Thursday.
Aptalis specializes in making drugs for gastrointestinal disorders and cystic fibrosis, with sales of $688 million in fiscal year 2013. More than 60% of its sales come from the ulcer treatment Carafate (sucralfate), the inflammatory bowel disease treatment Canasa (melamine) and the cystic fibrosis drug Zenpep (pancrelipase).
"Aptalis has an excellent strategy and financial fit for Forest because of its strong product offerings in two therapeutic franchises that are complementary to Forest — [gastrointestinal] in the United States and Canada and cystic fibrosis in Europe," Forest president and CEO Brent Saunders said. "The acquisition of Aptalis helps to diversify Forest while advancing our strategy to create blockbuster therapeutic areas."
Mylan launches generic drug for kidney transplant patients
PITTSBURGH — Mylan has launched a generic drug for preventing rejection of transplanted organs, the company said Thursday.
The generic drug maker announced the launch of mycophenolic acid delayed-release tablets in the 180-mg and 360-mg strengths. The drug is a generic version of Novartis’ Myfortic. As the first company to file a completed regulatory approval application for the generic, Mylan is entitled to 180 days in which to compete exclusively against Novartis’ product before the Food and Drug Administration can approve additional generic versions.
The drug is used to prevent rejection of transplanted kidneys in adults and in children ages 5 years and older who are taking the drug at least six months after a transplant operation. Myfortic had sales of about $306.8 million during the 12-month period that ended in September, according to IMS Health.
Amneal hires former Warner Chilcott SVP finance as CFO
BRIDGEWATER, N.J. — Amneal Pharmaceuticals has appointed Rochelle Fuhrmann as CFO, the generic drug maker said Thursday.
Fuhrmann was formerly SVP finance at Warner Chilcott, where she was responsible for the oversight and direction of the finance and accounting functions, including corporate accounting, financial planning and analysis, tax, treasury, risk management, internal audit and investor relations. She began working at Warner Chilcott in June 2006 and was promoted to SVP in January 2011.
"Rochelle’s strong leadership abilities, robust financial background and broad industry experience bring tremendous value to Amneal as well expand our global reach in both generic and specialty pharmaceuticals," Amneal chairman and co-CEO Chirag Patel said. "We welcome her strategic vision and proactive approach and are delighted that she has joined the Amneal family."