Sanofi to unload European generics business
Sanofi and Advent International are negotiating the sale of Sanofi’s European generics business Zentiva to the global investment company for €1.9 billion. Advent’s fully financed offer would support Zentiva’s management team to invest in operations, production facilities and research and development capabilities, the companies said.
“Zentiva is a robust business with a highly talented workforce and we believe it has demonstrated its potential for growth,” Sanofi CEO Olivie Brandicourt said. “Following a comprehensive review of strategic options for our generic unit in Europe, we have determined that transferring this business to Advent is the best option to ensure its long-term success.”
Sanofi said that Zentiva is not part of its core business, and the sale is part of its strategy to simplify and reshape the company.
“We have long been attracted to the generics pharmaceutical sector as it enables more people to access high quality treatments by lowering their cost,” said Advent managing director and co-head of its European healthcare team Tom Allen and Advent managing director Cédric Chateau. “We believe that Zentiva is a great platform, full of talented people, who we can invest behind to build a new, independent, European generics leader.”
The companies said they expect the transaction to close by the end of 2018, pending finalization of agreements and regulatory approval.
AmerisourceBergen Foundation donates drug disposal tools
The AmerisourceBergen Foundation has distributed nearly 55,000 drug disposal resources to communities nationwide, the charitable arm of Valley Forge, Pa.-based AmerisourceBergen said Monday. The resources, donated through the AmerisourceBergen Foundation Municipal Support Program, contain ingredients that deactivate opioids when combined with water.
The foundation’s efforts to make disposal of unused medication easier come as a recent Substance Abuse and Mental Health Services Administration Survey found that nearly 40% of people who have misused prescription pain medication obtained them from a friend or relative.
“We are encouraged by the immediate reach and impact of the grant program, and remain steadfast in our commitment to providing the communities where we live and work with the critical resources needed to help drive sustained change and combat the epidemic of opioid misuse,” said Gina Clark, AmerisourceBergen Foundation president and AmerisourceBergen executive vice president and chief communications and administration officer.
The company recently marked the introduction of the resources in the North Carolina cities of Stanley, Belmont, Rutherfordton and Shelby alongside Rep. Patrick McHenry, R.-N.C.
“The opioid epidemic is devastating families and communities all across the country, including western North Carolina,” McHenry said. “We must take action to end this crisis. Collaboration between companies like AmerisourceBergen and local communities like the town of Stanley are crucial in the fight against the opioid epidemic. I am thankful for the efforts of the AmerisourceBergen Foundation and their donation to the town of Stanley and other communities here in the Tenth District as they work to end opioid abuse.”
The AmerisourceBergen Foundation said that in the past several months, it has announced partnerships and grants aimed at providing opioid abuse, misuse and diversion prevention resources. Municipal entities and nonprofits interested in applying for resources can apply here.
Generic Alkeran launches from Fresenius Kabi
Fresenius Kabi has introduced its generic Alkeran (melphalan hydrochloride for injection). The drug is indicated as a palliative treatment for patients with multiple myeloma for whom oral therapy is not appropriate.
Fresenius Kabi’s generic Alkeran is available as a two-vial kit with one single-dose vial of the drug and one vial of sterile diluent.