Sciele Pharma terminates agreement to acquire Victory Pharma
ATLANTA Sciele Pharma, a U.S.-based group company of Shionogi & Co., has mutually agreed to terminate its acquisition of a specialty pharmaceutical company Victory Pharma.
Sciele Pharma and Victory Pharma have mutually agreed to terminate their previously announced merger agreement due to the occurrence of an unforeseen development that occurred after the agreement was signed.
The termination of this merger agreement between Sciele and Victory will have a minimal impact on Shionogi, and it is expected to have a small impact on Sciele’s 2009 revenue and earnings guidance. Sciele will continue to focus on its growth and diversification strategy, which the company initiated three years ago. Sciele has completed 10 transactions since 2007. An important part of Sciele’s growth strategy is to license and acquire products in addition to launching new products from its development pipeline.
Sciele, which specializes in the development of treatments for diabetes, women’s health issues and pediatrics. Victory Pharma is focused on acquiring, developing and marketing products to treat pain and related conditions.
Bartell Drugs collects food for people in need
SEATTLE A regional retail pharmacy chain has collected enough food for more than 15,000 meals for people in need.
Bartell Drugs announced Thursday that its “Stock the Pantry” food drive, which it had conducted with Northwest Harvest and Fisher Communications, had collected 16,767 pounds of food through the chain’s 55 stores in King, Pierce and Snohomish counties.
“Year-around hunger is an unfortunate reality for many children and their families, as well as many seniors,” Bartell chairman and CEO George Bartell said. “Through the generous contributions by our customers, we’re proud to support Northwest Harvest with this effort.
The food drive was launched in May as a way to help Northwest Harvest replenish its food stocks during the summer months.
OSI Pharmaceuticals moving to Westchester Co., N.Y.
MELVILLE, N.Y. Biotech company OSI Pharmaceuticals plans to move its U.S. operations to a single campus in upstate New York, the company announced this week.
OSI announced that it had purchased a 43-acre site in Ardsley, a community in the town of Greenburgh, N.Y., and would move 350 employees from Melville and Farmingdale, N.Y., Cedar Knolls, N.J., and Boulder, Colo., to the new campus in the second half of this year.
“The past 10 years has been a remarkable journey as the company has successfully brought its first oncology product, Tarceva, to market and taken the business profitable,” OSI CEO Colin Goddard said. “Nonetheless, we have recognized that we will only truly capture the full strategic value of our oncology franchise if we simplify our business by bringing together all the elements of our U.S. operations onto a single site.”