PHARMACY

Titan releases earnings report for Q3 2008

BY Alaric DeArment

SOUTH SAN FRANCISCO, Calif. Titan Pharmaceuticals has released financial results for third quarter 2008.

Total operating costs for the quarter, which ended Sept. 30, were $6 million, compared with $4.6 million for third quarter 2007, the company said. Net loss for the quarter was $5.9 million, compared to $4.3 million last year; losses in both cases totaled 10 cents a share. The increase in operating costs resulted mostly from an increase in research and development funding related to development of the opiate addiction treatment Probuphine (buprenorphine) and a slight increase in general and administrative costs.

“We have continued to streamline our expenses and focus our resources on the phase 3 clinical development of Probuphine,” Titan president and chief executive Marc Rubin said. “During the third quarter, we have engaged in discussions with several potential partners both in the U.S. and Europe, and we are continuing these efforts as we evaluate strategic alternatives for the company.”

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Jewel-Osco extends Prescription Plus offerings for more customers to get flu shots

BY Alaric DeArment

ITASCA, Ill. A retail pharmacy chain is reminding patients to use their prescription medications properly and get vaccinated despite the difficult economy.

Jewel-Osco Pharmacy will extend its Prescription Plus Rewards Programs through Jan. 31, allowing frequent pharmacy customers to save money on groceries. The program offers customers a 10 percent discount coupon for every five prescriptions they fill at the pharmacy using a discount card.

“As pharmacists, our foremost concern is helping our patients comply with their prescribed medication therapies,” Jewel-Osco vice president for pharmacy operations Tom Rousonelos said. “We’re extending the length of Prescription Plus in response to a real need our pharmacy customers tell us they have for the continuous opportunities to reduce their grocery bills through this program.”

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FDA approves Aurobindo’s generic version of Zoloft

BY Alaric DeArment

ROCKVILLE, Md. The Food and Drug Administration has approved Aurobindo’s application for sertraline hydrochloride oral concentrate, FDA records show.

The drug is a generic version of Pfizer’s antidepressant Zoloft. Roxane and Ranbaxy also offer generic versions.

The FDA approved sertraline hydrochloride tablets from Aurobindo in February 2007. The oral concentrate formulation received approval on Oct. 31.

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