US WorldMeds acquires Solstice Neurosciences
LOUISVILLE, Ky. US WorldMeds has acquired Solstice Neurosciences for $35.7 million, US WorldMeds said.
The acquisition gives US WorldMeds control of Malvern, Pa.-based Solstice’s Myobloc (rimabotulinumtoxinB), an injectable drug used to treat cervical dystonia. Cervical dystonia is a disorder that causes the head and neck to twist uncontrollably.
“By acquiring Solstice Neurosciences, US WorldMeds is bringing together the knowledge, passion and innovative spirit of two leading-edge companies,” US WorldMeds CEO P. Breckinridge Jones said. “US WorldMeds is dedicated to leveraging our scientific expertise to develop novel specialty pharmaceuticals that make a difference in patients’ lives.”
FDA approves emergency contraceptive Ella
SILVER SPRING, Md. The Food and Drug Administration has approved an emergency contraceptive pill made by a French drug maker.
The FDA announced the approval of Ella (ulipristal acetate), designed to prevent pregnancy when taken orally within five days of unprotected sex or contraceptive failure, though it is not designed for routine use as a contraceptive.
The drug, which works by preventing ovulation, is manufactured by Paris-based Laboratoire HRA Pharma and distributed by Morristown, N.J.-based Watson. Watson said it plans to launch the drug in the fourth quarter of this year.
Meda ventures into generic drugs
SOMERSET, N.J. A lot of generic drug companies have conducted business in the branded drug market on the side for a long time, with Teva Pharmaceutical Industries and Watson Pharmaceuticals standing out as good examples. But lately, some branded drug companies have sought to get into generics as well.
Meda Pharmaceuticals, the U.S. subsidiary of Swedish drug maker Meda A.B., recently decided to create its own generics subsidiary, calling it Wallace Pharmaceuticals, senior marketing director John White told Drug Store News.
“The strategy demonstrates Meda’s efforts to diversify and align and better serve the needs [and] interest of our customers,” White said. “We believe our ability to provide consistency in therapeutic effect, manufacturing and supply to our parent company’s branded products will prove to be a competitive advantage for Wallace Pharmaceuticals.”
Wallace will focus its business in the United States, with a core portfolio of allergy and pain medicines, White said. The company currently has no plans to enter the biosimilars market, however.