Tenn.-based pharmacy acquired by Capital Group Holdings
SCOTTSDALE, Ariz. Capital Group Holdings has acquired Main Street Family Pharmacy in Newbern, Tenn., Capital Group said Friday.
Main Street Family Pharmacy provides retail prescriptions, compounding, durable medical equipment and home infusion services, as well as disposable medical office supplies. The pharmacy also specializes in comprehending compounding services, providing products for hormone-replacement therapy, dermatology and other areas.
“The acquisition of Main Street Family Pharmacy provides us with a strong foundation in the health-and-wellness market and will enable us to pursue additional strategic opportunities,” Capital Group Holdings CEO Christopher Galvin said.
NBTY shareholders OK adopting merger agreement
RONKONKOMA, N.Y. NBTY on Wednesday announced that its stockholders have approved the proposal to adopt the merger agreement providing for NBTY’s acquisition by an affiliate of The Carlyle Group.
The affirmative vote of the holders of a majority of the outstanding shares of common stock of NBTY was required to approve the proposal to adopt the merger agreement. According to the final tally of shares voted, approximately 50.5 million shares of common stock of NBTY voted for the approval of the proposal to adopt the merger agreement, representing approximately 79.6% of the outstanding shares of common stock of NBTY as of the close of business on Aug. 23, the record date for this vote.
Following the approval of the proposal to adopt the merger agreement by NBTY’s stockholders, all conditions to the closing of the merger set forth in the merger agreement have been satisfied (other than those conditions to be satisfied by action taken by the parties at the closing). Under the merger agreement, the affiliate of Carlyle is obligated to consummate the merger upon completion of the 20-day marketing period for the debt financing, which will commence on Sept. 23, but it is NBTY’s expectation that the merger could be completed as soon as the beginning of October.
FDA to allow GSK’s Avandia, with restrictions
SILVER SPRING, Md. The Food and Drug Administration has moved to significantly restrict access to a controversial diabetes drug made by GlaxoSmithKline.
The agency said Thursday that it would restrict access to the Type 2 diabetes medication Avandia (rosiglitazone) in response to clinical study data suggesting that its use can increase the risk of heart attacks and strokes.
The FDA is requiring GSK to develop a restricted access program for the drug under a risk evaluation and mitigation strategy. Under the REMS, Avandia will be available to patients only if they cannot control their glucose levels with Actos (pioglitazone), a drug made by Takeda in the same class as Avandia.
“The FDA is taking this action today to protect patients, after a careful effort to weigh benefits and risks,” FDA commissioner Margaret Hamburg said. “We are seeking to strike the right balance to support clinical care.”
Actos has some issues of its own. Last week, the FDA said it would conduct a safety review of the drug after receiving data from a study conducted by Takeda suggesting that some patients taking the drug for the longest periods of time and in the highest dosage could be at risk for bladder cancer. The study did not show an overall association between taking Actos and the risk of bladder cancer, and the FDA said it had not concluded that a risk existed.