PHARMACY

NACDS gears up for 2011 Regional Chain Conference

BY Allison Cerra

ALEXANDRIA, Va. — The National Association of Chain Drug Stores will host in February its annual Regional Chain Conference, designed to bring together retail pharmacy chain executives with product manufacturers and suppliers.

This year’s conference will be held Feb. 6 to 8 at the Ritz-Carlton Naples in Naples, Fla.

The conference programming will include remarks from various executives, including NACDS president and CEO Steve Anderson, and NACDS chairman and CVS Caremark president Larry Merlo, among others.

Click here for more information on attending the conference.

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Caraco reports quarterly earnings

BY Alaric DeArment

DETROIT — Caraco Pharmaceutical Labs had sales of $40.4 million during the third quarter of fiscal year 2011, and $268.2 million during the first nine months of the fiscal year, the company said in an earnings report released Sunday.

Caraco, whose fiscal year 2011 ended Dec. 31, 2010, said that it included sales of products that it owns and products that it distributes in the figures. The latest numbers compared with $52 million in the third quarter of fiscal 2010 and $178.4 million during the first nine months of fiscal year 2010.

Gross profits were $3.3 million for the third quarter and $22.4 million for the first nine months of fiscal year 2011, compared with $3.1 million and a $4.7 million loss during third quarter 2010 and the first nine months of that fiscal year, respectively.

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MAP, Allergan to co-promote Levadex

BY Alaric DeArment

IRVINE, Calif. — Anticipating regulatory approval, MAP Pharmaceuticals and Allergan will collaborate to promote a drug for treating acute migraine to physicians.

The two companies announced the collaboration Monday for Levadex (dihydroergotamine), an inhaled drug. Phase-3 trials for the drug are finished, and MAP plans to submit an approval application for the drug to the Food and Drug Administration in the first half of this year.

If the drug is approved, Allergan and MAP will co-promote the drug to neurologists and pain specialists, and Allergan will use members of its sales force who already have experience promoting Botox for chronic migraine. MAP will be responsible for manufacturing and distribution, receiving an upfront payment of $60 million from Allergan and up to $97 million in milestones. The two companies will share profits.

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