Takeda completes acquisition of IDM Pharma
OSAKA, Japan Japanese drug maker Takeda Pharmaceutical Co. completed its tender offer for a company that develops cancer drugs.
Takeda announced Tuesday that it had completed its tender offer to acquire all outstanding shares of IDM Pharma for $2.64 per share, with about 86% of IDM shares tendered.
The two companies originally agreed to the acquisition in May, with Takeda showing particular interest in IDM’s malignant bone cancer drug Mepact (mifamurtide), which European regulators approved in March for marketing in the European Union, Iceland, Liechtenstein and Norway.
Obama signs tobacco legislation
WASHINGTON President Barack Obama signed legislation into law Monday that imposes sweeping new regulations on tobacco.
The law, the Family Smoking Prevention and Tobacco Control Act, bans several common tobacco products and marketing techniques and creates a new center within the Food and Drug Administration, the Center for Tobacco Products, to oversee regulation of the industry.
In an address in the White House Rose Garden, Obama cited the tobacco industry’s targeting of children.
“They’re aggressively targeted as customers by the tobacco industry,” Obama said. “They’re exposed to a constant and insidious barrage of advertising where they live, where they learn and where they play. Most insidiously, they are offered products with flavorings that mask the taste of tobacco and make it more tempting.”
Those products, such as cigarettes flavored with cloves and fruit, will be gone by October, though menthol cigarettes will remain legal. Products advertised as “light,” “low-tar” and “mild” will disappear from store shelves by July 2010.
Other youth-targeted marketing, such as sponsorship of athletic and entertainment events using tobacco product brand names and logos, selling or giving out promotional items with brand names and logos of tobacco products and distributing free cigarette samples will also be banned, as will tobacco advertising within 1,000 feet of schools and playgrounds. Distributing free samples of smokeless tobacco will still be allowed in adults-only venues.
Tobacco companies must submit to the agency a full list of additives and ingredients in tobacco products, a description of nicotine content and delivery and information about the health effects of tobacco by January 2010. By July 2011, cigarette packs will carry warning labels that occupy half of the front and back panels.
“Today, thanks to the work of Democrats and Republicans, healthcare and consumer advocates, the decades-long effort to protect our children from the harmful effects of tobacco has emerged victorious,” Obama said.
Glen’s Markets launches generic discount program
GRAND RAPIDS, Mich. A supermarket chain in the Midwest has launched a generic discount program.
Glen’s Markets announced Friday that all of its pharmacies serving communities throughout northern Michigan will begin selling 30-day supplies of more than 300 generic drugs for $4 and 90-day supplies for $10.
“Our expanded generic drug program is another example of the many ways we are making it easier for customers to stretch their food, healthcare and household dollars,” EVP merchandising Alan Hartline stated. “Our customers can continue to rely on the expert health counsel and friendly service our team of professional pharmacists consistently offer.”
The Grand Rapids, Mich.-based chain gradually has introduced the program in its stores that have pharmacies. Glen’s Markets is the latest chain to offer a generic discount program since Walmart began the trend in 2006.