PHARMACY

OnSiteRx allows doctors, pharmacists to improve delivery to nursing homes

BY Alaric DeArment

DALLAS Grapevine, Texas-based medical technology company Provider Business Solutions has developed an automated drug delivery system that help eliminate errors and save both time and money for nursing homes.

PBS has partnered with Christian Care Centers to test OnSiteRx, which automatically dispenses drugs while healthcare providers, doctors and pharmacists use software to order prescriptions, check for side effects and deliver medications.

PBS hopes to deliver 50 to 100 of the systems by the end of the year to nursing homes in Texas, California, Florida and Ohio.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
PHARMACY

Ipsen to acquire Tercica in $663 million deal

BY Alaric DeArment

NEW YORK Paris-based pharmaceutical company Ipsen is buying Brisbane, Calif.-based biotechnology company Tercica for $663 million, or $9 a share.

Ipsen was already a major shareholder in Tercica, and the deal puts it in control of the remaining shares. It hopes to use the deal to expand operations in the U.S.

Ipsen will also buy British drugmaker Vernalis’ U.S. subsidiary and has acquired rights to Octagen’s experimental hemophilia drug OBI-1.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
PHARMACY

Taro tries to cancel deal with Sun

BY Drew Buono

MUMBAI, India In response to Taro announcing that it was canceling a merger agreement with Sun Pharmaceuticals, Sun chairman Dilip Shanghvi fired off a letter telling the drugmaker it cannot exit the deal.

After a year in which Taro’s finances rebounded from red to black, the company said it wanted out of its deal with Sun because the deal did not reflect its improved performance. In response, Shanghvi expresses disappointment that Taro made its announcement without engaging in meaningful dialogue. He also points out that Taro had only $47 million in cash as of March 31 and, without Sun’s infusions of cash last year, “Taro would have virtually negative cash—hardly the ‘dramatic’ improvement of which Taro has boasted.”

Last May, Sun agreed to acquire Taro for $454 million. Some stockholders objected to the agreement’s $7.75 per share offer and petitioned the Tel Aviv District Court for a temporary injunction, which the court never issued, to prevent Taro from harming minority shareholders.

After Taro reported net sales of approximately $313 million and a gross profit of nearly $168 million for 2007, the company’s board of directors unanimously voted to cancel the merger agreement, saying the company’s improved financials made Sun’s offer inadequate. The move came even after Sun purportedly offered to raise the merger price to $10.25 per share, according to Taro.

In light of Taro’s actions, Sun is considering its options, including commencing legal proceedings, Shanghvi says, adding that he is available to discuss a negotiated transaction with Taro.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?