KV Pharmaceutical, Gedeon Richter announce licensing agreement
BUDAPEST, Hungary An American drug maker has signed a licensing agreement with a Hungarian pharmaceutical company.
KV Pharmaceutical Co. announced that it had entered into an agreement with Budapest, Hungary-based Gedeon Richter and its American subsidiary for licensing rights to KV technologies and products in the women’s health category.
Under the agreement, Gedeon Richter will have the right to manufacture and distribute certain proprietary technologies and products from KV in the European Union and other areas where it does business, while KV will receive undisclosed milestones and royalties for products that the two companies develop. KV will retain U.S. rights.
“KV Pharmaceutical and Gedeon Richter have for many years enjoyed an excellent relationship and business collaboration, and we are very pleased to extend it in this fashion,” KV Pharmaceutical Co. interim CEO David Van Vliet stated. “We believe this agreement allows both Richter and KV to offer additional enhanced products to more completely serve physicians and their patients.”
FTC clears J&J acquisition of Cougar Biotechnology
NEW BRUNSWICK, N.J. The Federal Trade Commission has given clearance to the acquisition of a biotechnology company by drug maker Johnson & Johnson.
J&J announced that the FTC had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to J&J’s acquisition of Los Angeles-based Cougar Biotechnology.
J&J made a tender offer last month to acquire Cougar for $1 billion, or $43 per share, and Cougar’s board recommended that stockholders accept the offer. If J&J manages to acquire a majority of tendered shares, and fulfills other customary conditions, Cougar will become a subsidiary, working with J&J’s biotech division. The tender offer expires at midnight July 2.
NCPA presents drug disposal advocacy to Congress
ALEXANDRIA, Va. An organization representing the country’s independent pharmacies took its advocacy of drug disposal programs to Congress Thursday.
Speaking on behalf of the National Community Pharmacy Association, pharmacist Cheri Garvin testified before the House Judiciary Subcommittee on Crime, Terrorism and Homeland Security’s “Safe and Responsible Drug Disposal” hearing.
Garvin, CEO of Leesburg Pharmacy in Leesburg, Va., developed a drug disposal program for her pharmacy that the NCPA said serves as a business model that its 23,000 members can use. The organization said safe drug disposal helps prevent diversion and the contamination of drinking water that results from patients flushing unused medications down toilets.
“Patients need viable, convenient solutions when seeking to dispose of their unused medications,” Garvin said in her testimony. “Programs that allow for drop-off at multiple public locations, as well as programs that allow for patients to utilize prepaid mailers to dispose of medications, should be encouraged.”