Generic manufacturer Silarx Pharmaceuticals acquired by Lannett
PHILADELPHIA – Lannett Company on Monday announced that it has signed a definitive agreement to acquire privately held Silarx Pharmaceuticals, a manufacturer and marketer of liquid generic pharmaceutical products. The transaction is expected to close in early June, 2015, subject to customary closing conditions.
"We look forward to welcoming Silarx to the Lannett family," said Arthur Bedrosian, CEO Lannett. "Upon closing, the acquisition will add a high quality, talented research team and manufacturing capacity. In addition, although the acquisition is not expected to have a significant impact on our financial results of operations during the next 12 months, Silarx brings an exciting pipeline and a number of complementary products to our offerings."
Strategic benefits of the acquisition include an FDA-approved manufacturing facility, research and development expertise and added diversity to Lannett's portfolio of existing and pipeline products.
The Silarx entire senior management team will remain with the combined company and no layoffs or facility closings are planned.
The boards of directors of both companies have unanimously approved the transaction.
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Privately held Walgreens Infusion Services rebranded Option Care
DEERFIELD, Ill. — Walgreens Infusion Services has been rebranded Option Care on Tuesday and will operate as a private company. The majority shareholder is Madison Dearborn Partners, a leading private equity firm based in Chicago. Walgreens Boots Alliance is a minority shareholder.
“Option Care allows people across the country to receive high quality medical services at home and in other patient-preferred, comfortable and cost-efficient settings,” said Paul Mastrapa, CEO of Option Care. “The infusion market is growing approximately 10% per year, and Option Care is positioned to provide exceptional clinical care every step of the way. We’re a strategic health care partner that can continue to make emerging therapies readily accessible throughout the country, serving the rapidly increasing number of Americans who rely on these treatments.”
Option Care serves approximately 10% of the approximate $14 billion infusion care market, Mastrapa reported during a press conference making the announcement Tuesday. With that reach, Option Care has the ability to serve more than 90% of the U.S. population, with 92 infusion pharmacies and 110 alternate treatment sites in 40 states, and almost 5,000 employees.
And Walgreens will still play a significant role in the direction of Option Care, Mastrapa said, filling three seats on the nine-seat board of directors that will be governing the company. "Walgreens views infusion services as an ongoing part of its healthcare services," Mastrapa said. "The [undisclosed] equity position reflects the strategic intention of Walgreens."
While the infusion care business is highly fragmented, Mastrapa said, the company will focus on its strength in the short term- leveraging its infusion care management technology. "As part of Walgreens, we have grown aggressively through acquisitions as well as organically," Mastrapa said. "Over time we do see an ongoing opportunity to be a primary consolidator in the industry, but that's a secondary focus right now."
The Option Care name is already well-known among patients and health care providers. In 2007, Walgreens acquired an independent infusion company called Option Care that had operated as a local and regional leader for more than 20 years.
The company’s new logo also was unveiled today – a bold and colorful symbol that celebrates the company’s clinical expertise and goal to be a connected part of the healthcare system. It includes a multi-colored segment design representing the range of Option Care’s service offerings, customer segments, and primary therapy areas, including nutrition, anti-infectives, heart failure, immune system disorders and bleeding disorders.
Today, Option Care is located on Walgreens headquarter campus, but the operation will be relocating to the northern Illinois area.
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PQA creates three measures to help track opioid prescriptions
SPRINGFIELD, Va. — The membership of the Pharmacy Quality Alliance has endorsed three new performance measures that assess the use of opioids from multiple providers or at high dosage in persons without cancer. Abuse and overdose of prescription opioids has grown to become a major public health issue in the United States. Studies have shown that people who receive high doses of opioids or prescriptions from multiple prescribers and use multiple pharmacies are more likely to die of drug overdoses.
The first measure assesses populations that are receiving prescriptions for opioids at a high dose that could be inappropriate or could contribute to an adverse event. The second measure assesses populations that are receiving opioid prescriptions from multiple prescribers and multiple pharmacies, which may indicate uncoordinated care and/or doctor/pharmacy shopping. And the third measure includes criteria of both high dose opioids and also receiving prescriptions from multiple providers – which may indicate misuse, abuse or inappropriate and/or fragmented care.
During testing, the PQA measure rates were calculated for five plans, including one commercial, three Medicare Advantage and one stand-alone prescription drug plan. Testing revealed substantial variability across these plans, and patterns that may prove useful in designing interventions. PQA collaborated with RxAnte to test the new opioid utilization measures, utilizing data from Aetna and WellCare.
"Abuse and overdose of prescription opioids is a major public health issue in the US. These measures will become important tools used in addition to other federal and state-based monitoring systems," said Woody Eisenberg, SVP PQA.
"Unsafe use of prescription opioids is a growing epidemic that costs the U.S. an estimated $70 billion annually and leads to nearly 100,000 avoidable ER visits each year," added Josh Benner, EVP strategy at Millennium Health. "We are pleased to collaborate with PQA, Aetna and WellCare on these new performance measures which will help to establish the foundation for addressing this important public health issue."
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