Teva pays $7.5 million to settle IVAX lawsuit with Depomed
MENLO PARK, Calif. Depomed will receive a one-time payment of $7.5 million from Teva Pharmaceuticals generic unit IVAX in relation to a settlement of a patent lawsuit, according to published reports.
Depomed had sued IVAX in January 2006 claiming patent infringement by IVAX’s Glucophage XR, a diabetes medication.
Under the terms of the settlement, Depomed will also get up to $2.5 million in royalties, for granting Teva a non-exclusive license allowing it to continue marketing the generic version of Glucophage XR.
GE introduces ChipCap humidity and temperature gauge
BILLERICA, Mass. GE Sensing & Inspection Technologies has announced a new product; proven to lower the cost of humidity and temperature sensor integration by 50 percent or more, according to published reports.
The product is known as ChipCap, a sensor for relative humidity and temperature used for the HVAC, automotive, medical and appliance industries. It is the only device that offers digital and analog configurations on a single chip. According to published reports, it is also highly resistant to contaminants and is programmed to fully recover in condensing environments.
Bryan Conner, Global Product Manager of Gas and Moisture for GE Sensing & Inspection Technologies, says, “ChipCap offers a full factory calibrated solution. It doesn’t require further signal conditioning, therefore reducing the overall design time in integration and time to market for new products. By eliminating the need for calibration, end users increase throughput and lower cycle time once in production.” The new product is sad to save an estimated $30,000 to $50,000 in capital equipment costs and calibration labor, according to published reports.
Oxycontin removed from Walgreens Tampa Bay locations
ST. PETERSBURG, Fla. As a response to recent pharmacy robberies in the Tampa Bay area, Walgreens has decided to remove the drug Oxycontin from some of its Tampa Bay stores, according to published reports.
Oxycontin, which is supposed to be used in treatment for severe pain or injuries, as well as cancer, has been identified as a street drug with names like OC, Ox, Kicker or Oxy. The most recent robbery occurred on March 27, according to published reports, during which a man pulled out a gun to obtain Oxycontin.
Carol Hively, a spokesperson from Walgreens, released the following statement in response to the news of the removal of Oxycontin:
“Walgreens is in the process of removing OxyContin from some of its stores in the Tampa area. This is a temporary measure we’re taking for the safety of our customers and employees, in response to local robberies. Signs are posted in our stores informing pharmacy patients of the change.”