Sanofi-Aventis obtains Genzyme for $20.1 billion
CAMBRIDGE, Mass. — French drug maker Sanofi-Aventis will acquire U.S. biotech giant Genzyme for $20.1 billion, under an agreement the two companies announced Wednesday.
Sanofi has had its eyes on Genzyme since last July, when it offered $18.5 billion, or $69 per share, for the Cambridge, Mass.-based company, but Genzyme initially dismissed Sanofi’s offer as too low. Under the new $74-per-share agreement, Genzyme shareholders will be eligible for additional milestone payments related to the multiple sclerosis treatment Lemtrada (alemtuzumab), or milestone payments related to 2011 production volumes for the Fabry disease drug Fabrazyme (agalsidase beta) and the Gaucher disease drug Cerezyme (imiglucerase).
Sanofi said it plans to make Genzyme its “global center for excellence” in rare diseases. Genzyme has long specialized in treatments for rare, inherited disorders, such as Fabry disease, Gaucher disease and Pompe disease.
Sanofi’s July announcement came not long after Genzyme agreed to pay $175 million to the federal government to address manufacturing problems the Food and Drug Administration found at one of its manufacturing plants in 2009. Those problems led to contamination of supplies of its drugs and nationwide shortages of Fabrazyme and Cerezyme.
PCMA leader: Generics, mail-order pharmacy help save money
WASHINGTON — Mark Merritt, the president and CEO of the Pharmaceutical Care Management Association, responded to a provision on the Pentagon’s new budget proposal, which encourages Tricare members to use generic medications and mail-service pharmacies to save money.
Merritt said that "increasing the use of generics and mail-service pharmacies reduces costs and enhances access to prescription drugs for military members and their families," adding that generic drugs have saved the U.S. healthcare system more than $800 billion, and that "mail-service pharmacies lower costs for consumers and payers, make far fewer errors, and increase medication adherence for those suffering from chronic conditions."
PCMA is a group that represents the nation’s pharmacy benefit managers.
Report: Walmart opens second retail clinic with St. Mary’s Medical Group
RENO, Nevada — St. Mary’s Medical Group once again is teaming up with Walmart to open up a second retail-based health clinic in Nevada, according to local news reports.
According to reports, the second location is opening on Tuesday at the Walmart store on Kietzke Lane.
Dan Ferguson, chief medical officer for St. Mary’s Medical Group, was quoted as saying, "Retail clinics are becoming a growing trend in Nevada, which is why we moved ahead with opening a second clinic in northern Nevada. The new retail model allows patients to access basic healthcare services in a setting that’s convenient for them."
The first location opened in October 2010 at the Spanish Springs Walmart store.