Mylan settles with Pfizer over generic bladder drug
PITTSBURGH — Generic drug maker Mylan has settled a patent litigation suit with Pfizer concerning a drug for treating bladder disorders, Mylan said Friday.
The Pittsburgh-based company said it settled with Pfizer over its generic version of Detrol LA (tolterodine tartrate) extended-release capsules in the 2-mg and 4-mg strengths. The drug is used to treat urge urinary incontinence, urgency and frequency.
Under the terms of the settlement, Mylan can launch its drug starting in 2014, pending final approval by the Food and Drug Administration, either as a generic drug or as an authorized generic, which is a branded drug marketed under its generic name at a reduced price.
The drug had sales of $599 million during the 12-month period ended in June, according to IMS Health.
CRN to serve as promotional partner for vitamin D scientific symposium
WASHINGTON — The Council for Responsible Nutrition on Thursday announced it will serve as a promotional partner for the one-day scientific symposium "Vitamin D: Beyond Bone," presented by the New York Academy of Sciences, The Sackler Institute for Nutrition Science and the Abbott Nutrition Health Institute.
The keynote speaker will be Daniel Bikle, professor of medicine and dermatology at the University of California, San Francisco, and co-director of the Special Diagnostic and Treatment Unit of the San Francisco VA Medical Center.
The conference will explore recent epidemiological data and the known underlying mechanisms behind vitamin D’s effects on pregnancy, lactation, immune, metabolic, muscle and cardiovascular functions. In addition, the agenda will cover recent changes to vitamin D dietary guidelines and critical next steps in research to help translate data into public health strategies that support the wellbeing of infants, adults and the aging population.
The conference takes place Sept. 21 in New York.
Kraft Foods CEO outlines strategic growth priorities for Mondelez International
BOSTON — Speaking this week at the Barclays Capital Back-to-School Consumer Conference, Kraft Foods chairman and CEO Irene Rosenfeld outlined how the soon-to-debut global snacks company Mondelez International is "uniquely positioned to win in the marketplace."
Rosenfeld said the company touts such competitive advantages as leading positions in fast-growing categories; an advantaged geographic footprint with significant exposure to developing markets; a portfolio of the world’s favorite snacks brands; proven global innovation platforms; strong routes to market and world-class talent and capabilities.
As previously announced, Kraft Foods plans to spin off Kraft Foods Group, which will hold Kraft Foods’ North American grocery business on Oct. 1. Kraft Foods Group will trade on the NASDAQ stock exchange under the ticker symbol "KRFT." Following the spinoff, Kraft Foods will be renamed Mondelez International. Mondelez International will trade on the NASDAQ stock exchange under the ticker symbol "MDLZ."
"As our results show, we’ve significantly changed the trajectory of our business to deliver sustainable, profitable growth," Rosenfeld said. "With the spinoff of our North American grocery business, we’re now ready to unleash a global snacking powerhouse that’s poised to deliver top-tier revenue and earnings growth."
During the conference, Kraft Foods EVP and CFO Dave Brearton also outlined the company’s financial targets.
"Over the long term, we’re targeting organic revenue growth of 5% to 7% and double-digit operating EPS growth on a constant-currency basis," Brearton said. "These rates are higher than our previous long-term targets for Kraft Foods prior to the spin. For 2013, we expect to deliver results that are consistent with our long-term profile, specifically, organic net revenue growth of 5% to 7% and Operating EPS of $1.50 to $1.55, including a significant foreign exchange headwind of about 15 cents versus 2011 currency rates."