PHARMACY

Greenstone makes two executive appointments

BY Alaric DeArment

PEAPACK, N.J. The generics subsidiary of the world’s biggest drug maker has made two new executive appointments.

Greenstone, a subsidiary of Pfizer that makes generic and authorized generic drugs, announced the appointment of Christine Versichele, as director of U.S. generic channel strategies, and Mark Mancinotti, as national account director.

Versichele, whom the company called a “long-term generic industry professional,” has worked in the pharmaceutical industry for 25 years, mostly in generics. Mancinotti has also worked in the industry for 25 years, mostly in national and regional account management.

In their new positions, Versichele and Mancinotti will be responsible for create sales and policy initiatives for the company.

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GSK: Rheumatoid arthritis treatment meets trial goals

BY Alaric DeArment

LONDON A late-stage clinical trial of a biotech drug for rheumatoid arthritis has met its goals, the drug’s developers announced Wednesday.

British drug maker GlaxoSmithKline and Danish drug maker Genmab announced that patients in a phase 3 trial taking ofatumumab experienced a 20% improvement in the number of swollen and tender joints, as the companies expected.

In the 260-patient study, the 129 patients taking ofatumumab had a 50% response rate, compared to 27% of those taking placebo. The companies also said there were no unexpected safety problems, but 5% of patients experienced rash, hives, throat irritation and other side effects.

“We have always believed in ofatumumab’s potential to make a difference in patients’ lives,” Genmab CEO Lisa Drakeman said in a statement. “We are pleased with the results of this study, supporting the further investigation of this antibody’s promise in the treatment of RA.”

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Medarex reports narrowed loss, nearly doubled revenue for Q2

BY Anna Mcgrath

PRINCETON, N.J. Biotech drug maker Medarex reported a less severe drop in second-quarter loss, while its revenue almost doubled from last year.

The Princeton, N.J.-based Medarex reported losses of $29.2 million compared with a loss of $53.1 million in the same quarter last year.

This year’s revenue was up 96% from last year’s $10 million to $19.5 million.

New York-based Bristol-Myers Squibb, the maker of blood thinner Plavix, put forth $2.1 billion to acquire Medarex.

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