PHARMACY

Salix granted three patents for Xifaxan

BY Alaric DeArment

RALEIGH, N.C. — The U.S. Patent and Trademark Office has awarded Salix Pharmaceuticals three patents related to a drug used for travelers’ diarrhea.

Salix announced Wednesday that it had secured patents for the drug Xifaxan (rifaximin) covering its methods of treating travelers’ diarrhea, as well as two related to the drug’s chemical composition.

The patents are set to expire between 2024 and 2029.

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PHARMACY

Sagent to issue IPO

BY Alaric DeArment

SCHAUMBURG, Ill. — Sagent Pharmaceuticals has increased the number of shares it’s issuing in its initial public offering on the Nasdaq, the drug maker said Wednesday.

Originally planning to offer 5 million shares, the company has increased that number to 5.75 million shares at $16 per share.

The underwriters have a 30-day option to purchase up to an additional 862,500 shares at the IPO price. The offering is expected to close next Tuesday.

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Report: CVS/pharmacy logo creator dies at 86

BY Antoinette Alexander

BOCA RATON, Fla. — Joseph Selame, who designed a wide range of well-known logos and brand identities for dozens of nonprofit organizations and companies, including CVS/pharmacy, died on March 29 in Boca Raton, Fla. He was 86.

According to a New York Times article, Selame not only created graphic designs but also oversaw total brand integration. For example, he helped rename the pharmacy retailer — transforming Consumer Value Stores into CVS/pharmacy. The retailer’s logo, which includes the letters CVS and the word pharmacy, separated by a slash mark, has become one of the most familiar in the country.

He also created a logo for supermarket chain Stop & Shop.

Selame founded Selame Design in 1960 with his wife, Elinor, who was in charge of marketing and communications strategies. She died in 2008 at 77, the New York Times reported. The firm was renamed BrandEquity in 1995.

Selame, who was born in Brooklyn in 1925, was trained in graphic design by the Army during World War II. He was known for his approach, which was rooted in simplification.

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