PHARMACY

Orexo’s Edluar receives FDA approval for the treatment of insomnia

BY Allison Cerra

STOCKHOLM A Swedish pharmaceutical company announced Monday that it has received approval from the Food and Drug Administration for its short-term treatment for insomnia.

Edluar (formerly Sublinox) will be available in 5 mg and 10 mg sublingual tablets.

Orexo’s U.S. partner, Meda, acquired the exclusive worldwide commercialization license for Edluar is set to market the drug during the second half of this year. Orexo will receive royalties on Meda’s sales of Edluar.

Orexo is a pharmaceutical company focused on developing drugs for the treatment of pain and inflammation.

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CV Therapeutics’ board of directors rejects Astellas’ tender offer

BY Allison Cerra

PALO ALTO, Calif. The board of directors of CV Therapeutics announced Friday it has rejected Astellas’ tender offer of $16 per share.

CV Therapeutics’ determined that the offer “undervalues the company and is not in the best interests of its stockholders”, according to a release.

The announcement comes once day after Gilead Sciences announced it would acquire CV Therapeutics, making it a wholly owned subsidiary of Gilead. The transaction is valued at approximately $1.4 billion, with a tender offer of $20 per share.

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Take Care Health Systems opens new clinic in Phoenix

BY Antoinette Alexander

CONSHOHOCKEN, Pa. Take Care Health Systems, which is owned by Walgreens, has opened a new clinic in the Phoenix market, the clinic operator announced on Friday.

With the new opening, the company now has 18 clinics in that market.

Take Care Health Systems operates a total of 339 clinics in 35 markets throughout 19 states.

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