J&J on the prowl to acquire biotech co.
NEW BRUNSWICK, N.J. A large drug maker wants to buy a Los Angeles-based biotechnology company.
Johnson & Johnson announced Friday that it had begun a tender offer to acquire Cougar Biotechnology, offering shareholders $43 per share. The company’s pipeline includes several compounds designed to treat cancer, including one, CB7630 (abiraterone acetate) in phase 3 trials as a treatment for prostate cancer and in phase 1 trials as a treatment for breast cancer.
J&J said the tender offer would expire at midnight, July 2, unless extended.
Johnson & Johnson unveils large drug development pipeline
NEW BRUNSWICK, N.J. Drug maker Johnson & Johnson boasted a large drug development pipeline in a statement preceding a meeting with investors Thursday.
The company highlighted early-stage compounds and new regulatory filings in neuroscience, cardiovascular disease, immunology, infectious diseases and cancer, as well as new uses for drugs already on the market.
The company also mentioned the launches of the arthritis and psoriasis drug Simponi (golimumab) and the painkiller Nucynta (tapentadol) and a focus on growing core products like the inflammatory disorder drug Remicade (infliximab), the antipsychotic Risperdal Consta (risperidone) and the attention deficit hyperactivity disorder drug Concerta (methylphenidate hydrochloride).
“We are very optimistic about our future in pharmaceuticals,” J&J worldwide chairwoman of pharmaceuticals Sheri McCoy said in a statement. “We are well-positioned with an industry-leading pipeline, the global reach and financial resources of Johnson & Johnson, a long, rich history in pharmaceuticals and a broad portfolio that is grounded in science and addresses serious unmet needs.”
Albertsons selects PDX to provide pharmacy technology solution
FORT WORTH, Texas Albertsons has selected PDX and affiliates Rx.com and NHIN to provide its pharmacy technology solution, replacing its current system with the new Enterprise Pharmacy System.
The chain’s pharmacies will implement the Rx.com Electronic Pharmacy Record, which facilitates chainwide DUR checking and allows patients the convenience of shopping at any Albertsons LLC pharmacy. In addition, NHIN will provide complete submissions, reconciliations and collections services for the retailer, as well as manage its day-to-day central host operations via Host Administrative Services.
The company plans to pilot EPS in pharmacies in Texas and Arizona later this year, and will roll out the technology companywide in 2010. Albertsons LLC currently operates nearly 250 stores in Arizona, Arkansas, Colorado, Florida, Louisiana, New Mexico and Texas.