PHARMACY

GAO claims FDA can do a better job of protecting the public

BY Alaric DeArment

WASHINGTON The Food and Drug Administration may not be able to do its job as well as it should, the Government Accountability Office has said.

The GAO said Thursday that globalization, complexity of new products and laws harmed the FDA’s ability to perform its duties in protecting the public.

“Concerns have been expressed about FDA’s ongoing ability to fulfill its mission of ensuring the safety and efficacy of drugs, biologics and medical devices,” the office’s report read.

The GAO said the FDA needs to improve the data it uses to manage foreign drug inspection, inspect manufacturing facilities abroad more often, better track promotional materials and ensure that drug sponsors comply with regulations on the presentation of clinical trial results.

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American Consultants Rx donates discount Rx cards to non-profits

BY Alaric DeArment

ATLANTA American Consultants Rx has re-launched a community service project that involves donating millions of discount prescription cards to non-profit organizations, hospitals, schools, churches and others.

President Charles Myrick announced the plan Wednesday. American Consultants Rx said it was an effort to assist the uninsured, underinsured and elderly people in dealing with the high cost of prescription drugs.

The cards are accepted at more than 50,000 stores, including such nationwide chains as Walgreens, Kmart and Walmart.

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Panacos sells rights to HIV drug candidate bevirimat to Myriad for $7M

BY Alaric DeArment

WATERTOWN, Mass. Panacos Pharmaceuticals, a biotechnology company in Massachusetts, said Wednesday that it has sold the rights to the HIV drug candidate bevirimat to Salt Lake City-based drug maker Myriad Pharmaceuticals for $7 million.

The sale includes patents and patent applications related to bevirimat, product inventory, rights to regulatory filings and various contracts. Panacos said the drug, a maturation inhibitor, is the first of its class.

“Our goal has been to develop drugs with novel mechanisms of action to give people living with HIV new treatment options,” Panacos president and CEO Alan Dunton said in a statement. “In order to achieve this goal and to manage capital resources in the current market environment, we chose to sell bevirimat to Myriad Pharmaceuticals.”

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