Teva intros generic Atelvia tabs
BY Ryan Chavis
NORTH WALES, Penn. — Teva Pharmaceuticals on Tuesday announced the introduction of risedronate sodium delayed-release tablets, the equivalent to Atelvia delayed-release tablets. According to the company, the drug is used to treat postmenopausal osteoporosis.
“Our customers count on Teva for a continuous supply of new generic products,” said Maureen Cavanaugh, SVP, U.S. generics sales and marketing. “With the launch of Risedronate Sodium Delayed-Release Tablets, we add another quality product to our broad line of affordable generic pharmaceuticals.”
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Generic manufacturer Silarx Pharmaceuticals acquired by Lannett
PHILADELPHIA – Lannett Company on Monday announced that it has signed a definitive agreement to acquire privately held Silarx Pharmaceuticals, a manufacturer and marketer of liquid generic pharmaceutical products. The transaction is expected to close in early June, 2015, subject to customary closing conditions.
"We look forward to welcoming Silarx to the Lannett family," said Arthur Bedrosian, CEO Lannett. "Upon closing, the acquisition will add a high quality, talented research team and manufacturing capacity. In addition, although the acquisition is not expected to have a significant impact on our financial results of operations during the next 12 months, Silarx brings an exciting pipeline and a number of complementary products to our offerings."
Strategic benefits of the acquisition include an FDA-approved manufacturing facility, research and development expertise and added diversity to Lannett's portfolio of existing and pipeline products.
The Silarx entire senior management team will remain with the combined company and no layoffs or facility closings are planned.
The boards of directors of both companies have unanimously approved the transaction.
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Privately held Walgreens Infusion Services rebranded Option Care
DEERFIELD, Ill. — Walgreens Infusion Services has been rebranded Option Care on Tuesday and will operate as a private company. The majority shareholder is Madison Dearborn Partners, a leading private equity firm based in Chicago. Walgreens Boots Alliance is a minority shareholder.
“Option Care allows people across the country to receive high quality medical services at home and in other patient-preferred, comfortable and cost-efficient settings,” said Paul Mastrapa, CEO of Option Care. “The infusion market is growing approximately 10% per year, and Option Care is positioned to provide exceptional clinical care every step of the way. We’re a strategic health care partner that can continue to make emerging therapies readily accessible throughout the country, serving the rapidly increasing number of Americans who rely on these treatments.”
Option Care serves approximately 10% of the approximate $14 billion infusion care market, Mastrapa reported during a press conference making the announcement Tuesday. With that reach, Option Care has the ability to serve more than 90% of the U.S. population, with 92 infusion pharmacies and 110 alternate treatment sites in 40 states, and almost 5,000 employees.
And Walgreens will still play a significant role in the direction of Option Care, Mastrapa said, filling three seats on the nine-seat board of directors that will be governing the company. "Walgreens views infusion services as an ongoing part of its healthcare services," Mastrapa said. "The [undisclosed] equity position reflects the strategic intention of Walgreens."
While the infusion care business is highly fragmented, Mastrapa said, the company will focus on its strength in the short term- leveraging its infusion care management technology. "As part of Walgreens, we have grown aggressively through acquisitions as well as organically," Mastrapa said. "Over time we do see an ongoing opportunity to be a primary consolidator in the industry, but that's a secondary focus right now."
The Option Care name is already well-known among patients and health care providers. In 2007, Walgreens acquired an independent infusion company called Option Care that had operated as a local and regional leader for more than 20 years.
The company’s new logo also was unveiled today – a bold and colorful symbol that celebrates the company’s clinical expertise and goal to be a connected part of the healthcare system. It includes a multi-colored segment design representing the range of Option Care’s service offerings, customer segments, and primary therapy areas, including nutrition, anti-infectives, heart failure, immune system disorders and bleeding disorders.
Today, Option Care is located on Walgreens headquarter campus, but the operation will be relocating to the northern Illinois area.
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