PHARMACY

Mylan’s generic Prilosec approved by FDA

BY Alaric DeArment

PITTSBURGH The Food and Drug Administration has approved a generic version of AstraZeneca’s Prilosec (omeprazole).

Generic drug maker Mylan announced Friday that it had received FDA approval for its omeprazole delayed-release USP tablets in the 40-mg strength. 

The drug is used to treat gastroesophageal reflux disease and peptic ulcers. Branded Prilosec in the 40 mg strength had sales of about $211 million during the 12 months ending Sept. 30, according to IMS health. 

Mylan said it plans to begin marketing its generic version immediately. 

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American Consultants Rx donates discount Rx cards to non-profits

BY Alaric DeArment

ATLANTA American Consultants Rx has re-launched a community service project that involves donating millions of discount prescription cards to non-profit organizations, hospitals, schools, churches and others.

President Charles Myrick announced the plan Wednesday. American Consultants Rx said it was an effort to assist the uninsured, underinsured and elderly people in dealing with the high cost of prescription drugs.

The cards are accepted at more than 50,000 stores, including such nationwide chains as Walgreens, Kmart and Walmart.

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Panacos sells rights to HIV drug candidate bevirimat to Myriad for $7M

BY Alaric DeArment

WATERTOWN, Mass. Panacos Pharmaceuticals, a biotechnology company in Massachusetts, said Wednesday that it has sold the rights to the HIV drug candidate bevirimat to Salt Lake City-based drug maker Myriad Pharmaceuticals for $7 million.

The sale includes patents and patent applications related to bevirimat, product inventory, rights to regulatory filings and various contracts. Panacos said the drug, a maturation inhibitor, is the first of its class.

“Our goal has been to develop drugs with novel mechanisms of action to give people living with HIV new treatment options,” Panacos president and CEO Alan Dunton said in a statement. “In order to achieve this goal and to manage capital resources in the current market environment, we chose to sell bevirimat to Myriad Pharmaceuticals.”

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