Mylan completes acquisition of Agila from Strides Arcolab
PITTSBURGH — Mylan has completed its acquisition of the injectables business of Strides Arcolab, a deal worth nearly $2 billion, the drug maker said.
Mylan said the acquisition of Agila could cost up to $1.75 billion, including a $250 million contingent consideration. As part of the acquisition, Mylan will gain full commercialization rights for most of Agila’s U.S. portfolio of experimental and marketed products, including cancer drugs, as well as significant product rights in Canada, Australia, Brazil, Japan and South Korea.
"The acquisition of Agila will create a global injectables leader, expanding and strengthening Mylan’s existing injectables platform and portfolio and providing Mylan entry into exciting new geographic markets," Mylan CEO Heather Bresch said. "We believe we can generate significant growth from this business as we maximize the capabilities of this platform and accelerate the many untapped opportunities we see ahead."
Pharmacy Compounding Accreditation Board seeks new executive director
WASHINGTON — The Pharmacy Compounding Accreditation Board is looking for a new executive director following the departure of Joe Cabaleiro, the group said Wednesday.
The formal search will start in January, and the new executive director will oversee accreditation programs for compounding pharmacies and lead compounding initiatives to enhance patient care and improve quality practices. Interested parties may contact National Community Pharmacists Association chief of staff Beverly Martin.
"Pharmacist compounding services, the art of customizing medications for a patient’s unique healthcare needs based on a prescriber’s order, continues to be in high demand," PCAB president Douglas Hoey said; Hoey is also CEO of the NCPA. "To meet the high standards set forth for PCAB accreditation, an accredited compounding pharmacy has proven that it is providing a valuable healthcare service to its community."
FDA approves new topical scar treatment
PETALUMA, Calif. — The Food and Drug Administration has approved a new topical drug for treating scars made by Oculus Innovative Sciences, the drug maker said Wednesday.
The FDA has approved Microcyn scar-management hydrogel, used to treat scars resulting from burns, surgery and trauma wounds. Oculus and a partnering company, Quinnova Pharmaceuticals, intend to start selling the drug in the first half of next year.
"We have known for years that there has been a practitioner demand for an efficacious and safe prescription treatment to manage hypertrophic and keloid scarring," Quinnova CEO Jeffrey Day said. "Having seen firsthand the compelling impact that our Microcyn-based technology products have had on the management of conditions such as atopic dermatitis, we are equally excited about its potential as well in managing scars."