Gene Logic receives milestone payment from Pfizer for drug repositioning
GAITHERSBURG, Md. Gene Logic has reached a collaboration milestone, triggered by the filing of a patent application for a new use of an existing Pfizer drug candidate to treat solid tumors. Gene Logic’s Drug Repositioning Division discovered the new use for the unapproved drug candidate.
Under its drug repositioning agreement with Pfizer, Gene Logic has been seeking new therapeutic applications for selected drug candidates that are no longer in active development. The terms of the agreement provide for payment by Pfizer to Gene Logic of success-based milestones per compound and royalties on the commercialization of drugs whose repositioning results from Gene Logic’s Drug Repositioning Program. Gene Logic will receive a small initial milestone payment as a result of the filing of the patent application.
“We are pleased to see our Drug Repositioning Program yielding potentially valuable intellectual property for Pfizer. Our goal is to apply our drug repositioning capabilities to complement our partners’ internal pipeline development efforts,” Charles L. Dimmler, III, Gene Logic’s chief executive officer and president, said. “By finding new indications for de-prioritized, clinical stage drug candidates, our partners have another route to build value in their pipeline. We consider the filing of this patent application by Pfizer to be a substantive validation that our systematic approach to drug repositioning is working effectively.”
Kerr Drug holds grand opening of second community care center
RALEIGH, N.C. Kerr Drug, the pharmacy chain “pioneering community pharmacy care” in 102 retail locations throughout The Carolinas, announces the opening of its second community health care center at 1050 South Horner Blvd in Sanford, N.C. The grand opening will take place today, beginning at 9 a.m.
“We made a conscious decision—a commitment—to provide North Carolinians with a comprehensive health care facility focused on their overall health,” said Anthony Civello, president and chief executive officer of Kerr Drug. ”To have developed this commitment into a new industry and life-changing center is a wonderful accomplishment for the entire Kerr Drug family.”
An industry-unique facility focused extensively on the complete health of its patients, the new center is set to revolutionize the way residents of North Carolina receive pharmacy and healthcare services. This new prototype combines the community health care center with a large, fully merchandised retail drug store and a Seattle’s Best cafe, offering beverages and foods in a relaxing environment.
The center will also offer expanded clinical pharmacy services, and provide a variety of private one-on-one patient services, intervention and education performed by health professionals, such as a physician’s assistant, clinical pharmacists, weight loss/nutritionists specialists and respiratory therapists.
Areas throughout the new center will be devoted to cardiac and lung health, women’s care, advanced skin and foot care, breast-feeding support and other specialty departments. A complete line of health screenings will be also available, including cholesterol, bone density, artery disease, glucose, respiratory and blood pressure.
For patients with otherwise limited access to these services, the new center represents a convenient and cost-effective way to receive professional preventative health care. It will also be equipped with a state-of-the-art “Healthy Living” durable medical equipment section for patients needing walkers, hospital beds, mobility and safety equipment, and home health care items.
“This center will set the standard for pharmacy care and will positively impact the health care landscape in North Carolina and the entire country,” said Civello.
Schering-Plough completes buyout of Organon for more than $14 billion
KENILWORTH, N.J. Schering-Plough has completed its buyout of the biopharmaceutical company Organon BioSciences NV for about $14.43 billion in cash.
This is the completion of a deal first announced on March 12, and now expands Schering-Plough’s late-stage product pipeline and human health business. The deal provides Schering-Plough with five additional Phase III projects and furthers its reach into pharmaceutical franchises for women’s health and the central nervous system. The experimental products include an oral contraceptive, an asthma treatment and an HIV drug.
Schering-Plough’s prescription products will now include Organon’s fertility treatment Follistim, muscle relaxant Zemuron and vaginal contraceptive ring NuvaRing.