Teva completes Cephalon acquisition
JERUSALEM — Teva Pharmaceutical Industries has completed its acquisition of another drug maker, following clearance from the Federal Trade Commission.
Teva said its acquisition of Frazier, Pa.-based Cephalon, valued at $6.8 billion, will help the company build out its branded and specialty pharmaceuticals business. The combined company is expected to generate about $20 billion in revenues (on a pro-forma basis) for the 12 months ended in June.
In relation to the deal, Teva sold three generic drugs to Par Pharmaceutical Cos.
Prasco to bring Aspen brand to U.S. market
CINCINNATI — Prasco Labs announced it will serve as the exclusive U.S. distributor and pharmaceutical services provider for a line of branded prescription drugs.
Prasco said that it will distribute products under the Aspen Global brand, the generic drug maker said. Aspen currently serves Africa, Latin America, Europe, Australia and Asia markets.
“Our relationship with Aspen is a natural extension of our proprietary lifecycle management system,” Prasco CEO E. Thomas Arington said. “We have a history of success in marketing branded products as Prasco authorized generics. These established relationships provide a platform for extending our services to brand markets. By utilizing our expertise, Prasco will provide partner specific distribution and product support services through all distribution channels.”
HDMA names six new directors; ABC’s Neu appointed vice chair
ARLINGTON, Va. — The Healthcare Distribution Management Association on Tuesday named six new members to its board of directors — Maria Burns, Burlington Drug Co. VP and corporate secretart; Gregory Drew, Value Drug Co. president; Terrance Haas, Harvard Drug Group CEO; David Neu, AmerisourceBergen president; Dale Smith, H. D. Smith chairman and CEO; and Albert Thomas, senior director and general manager of VaxServe, a Sanofi Pasteur company.
Additionally, Neu was elected vice chairman of the HDMA board. David Moody, Jr., CEO Mutual Wholesale Drug Co., will continue to serve as chairman.
“I want to welcome our six new directors and thank our outgoing members for their commitment to our association and the healthcare distribution industry,” HDMA president and CEO John Gray said. “I look forward to working closely with the HDMA board of directors as we address the critical issues affecting our industry and advocate for safe and efficient supply chain solutions.”