Ranbaxy’s FDA woes could spell good news for Mylan
NEW YORK The warning letters and import advisory that the Food and Drug Administration issued to Ranbaxy Laboratories has already improved the fortunes of at least of the Gurgaon, India-based drug maker’s competitors.
Mylan’s stock rose in New York trading Thursday when an analyst said it could benefit from the FDA’s action, despite the recent troubles on Wall Street.
The FDA warning blocks the import of more than 30 drugs manufactured at Ranbaxy’s plants in Dewas and Paonta Sahib, India, but not drugs manufactured at other plants. The FDA has not found any specific problems with drugs manufactured at the two plants and has not issued warnings for any Ranbaxy drugs already in the United States, but cited manufacturing problems there.
Care Pharmacies joins NCPA
ALEXANDRIA, Va. Care Pharmacies on Wednesday announced that the franchise network of more than 50 independent pharmacies joined the National Community Pharmacists Association.
“As an advocate for our cause, NCPA is one of our biggest allies, and as they support us, we should support them,” stated Care chief executive officer Gerry Crocker.
Care and NCPA has shared office space since February, when the franchisor relocated its offices to the NCPA headquarter building as part of its planned expansion efforts.
Bayer to acquire Direvo Biotech for $300 million
NEW YORK Bayer has announced that it will buy a German biotech company for almost $300 million.
Bayer said in a statement that the deal to buy Direvo Biotech would likely be done at the end of the month.
The acquisition will help Bayer’s efforts to develop biologic drugs, including antibodies.