Teva gets approval to buy Cephalon
FRAZER, Pa. — Teva Pharmaceutical Industries got the go-ahead from Cephalon’s shareholders to acquire the Frazer, Pa.-based company in a deal worth $6.8 billion.
Teva came out as the front-runner to purchase Cephalon in May, when the drug maker spurned a takeover bid by Mississauga, Ontario-based Valeant Pharmaceuticals, which had offered $5.7 billion in March.
Teva said at the time that the buyout would create a robust pipeline that includes more than 30 drugs in late-stage clinical trials, enhancing Teva’s branded drug portfolio with treatments for cancer, respiratory diseases, pain management and central nervous system disorders.
Axium Healthcare Pharmacy earns award in Orlando
LAKE MARY, Fla. — The Orlando, Fla., chapter of the Association for Corporate Growth has selected independent specialty pharmacy provider Axium Healthcare Pharmacy as the winner of one of its top awards.
ACG Orlando selected Axium as the recipient of the 2011 SMART Award in the Healthcare & Life Sciences category. ACG Orlando recognizes companies each year based on the value they bring to the region in terms of corporate culture, growth, business creativity and economic contribution.
“We’re proud to be recognized as a recipient of the 2011 SMART Awards,” Axium president and CEO Mark Montgomery said in a statement. “It is through consistent hard work and commitment of the Axium team that has driven the company’s significant growth over the past few years.”
Takeda pulls two diabetes drugs off French market
OSAKA, Japan — Two diabetes drugs made by Takeda Pharmaceutical Co. have been pulled from the market in France due to evidence that their use may increase the risk of bladder cancer, Takeda said.
Takeda said its French subsidiary, Laboratoires Takeda, would withdraw Actos (pioglitazone) and Competact (pioglitazone and metformin). In addition, Takeda said it was cooperating with the European Medicines Agency in a pan-European of pioglitazone. Competact is marketed in the United States under the brand name Actoplus Met.
In June, the Food and Drug Administration warned that use of pioglitazone for more than one year could be associated with an increased risk of bladder cancer, and the agency said information about the risk would be added to the labeling of products containing the drug, which remains available in the United States.