Pfizer makes official tender offer for King
NEW YORK Pfizer officially has made its tender offer to buy King Pharmaceuticals for $3.6 billion, or $14.25 per share, Pfizer said Friday.
The offer constitutes a 40% premium over the closing price of King’s stock on Oct. 11, when Pfizer originally made the offer. King, based in Bristol, Tenn., specializes in pain medications designed to deter misuse and abuse, and Pfizer said the acquisition would enhance its position in the pain-relief market.
The offer expires at midnight on Nov. 19.
Mylan gets nod for additional strengths of generic Mirapex
PITTSBURGH The Food and Drug Administration has approved a Mylan generic drug for Parkinson’s disease, Mylan said Thursday.
The drug maker announced the approval of pramipexole dihydrochloride tablets in the 0.125-mg, 0.25-mg, 0.5-mg, 1-mg and 1.5-mg strengths. The drug is a generic version of Boehringer Ingelheim’s Mirapex.
Various versions of the drug had sales of $536 million during the 12-month period ended in June, according to IMS Health. Mylan has had approval of a 0.75-mg formulation of the drug since April, and plans to immediately begin shipping the newly approved strengths.
Diplomat takes employees back to school
SWARTZ CREEK, Mich. A specialty pharmacy provider is creating an online tool to train and educate new and existing employees.
Diplomat Specialty Pharmacy announced Wednesday the launch of Diplomat University, saying it would use the Web-based tool as a platform for expanding into clinical trials and outcomes research. The company hired Ferris State University pharmacy professor Jennifer Hagerman to develop and implement programs for the project.
“I started my career in pharmacy as a technician at Diplomat and am thrilled to return as the director of education,” Hagerman said. “I look forward to helping implement educational programs for new and current staff, based on their role and specialty area, so they can continue to provide the best care for our patients.”