Valeant Pharmaceuticals to close Solta Medical acquisition
LAVAL, Quebec — Valeant Pharmaceuticals International on Thursday announced the expiration of the tender offer by a subsidiary of Valeant Pharmaceuticals International to purchase all of the outstanding shares of Solta Medical for $2.92 per share in cash, without interest (less any applicable withholding taxes).
The offer expired at midnight on Jan. 23, 2014.
American Stock Transfer & Trust Company the depositary for the tender offer, has advised that, as of the expiration of the offer, a total of 68.8 million shares had been tendered into and not validly withdrawn from the offer, representing approximately 85% of Solta’s outstanding shares.
Additionally, the depositary has advised that an additional 3.3 million shares had been tendered by notice of guaranteed delivery, representing approximately 4% of Solta’s outstanding shares.
The condition to the offer that at least a majority of the outstanding shares of Solta common stock, not including shares tendered pursuant to procedures for guaranteed delivery and not yet delivered, be validly tendered and not properly withdrawn prior to the expiration of the offer has been satisfied.
As a result of the merger, Solta will become a wholly owned subsidiary of VPI. In the merger, each remaining share of Solta that was not validly tendered in the offer will be cancelled and converted into the right to receive the same $2.92 per share in cash, without interest. Following completion of the merger, the common stock of Solta will no longer be listed for trading on the NASDAQ Global Select Market, which is expected to take effect as of the close of market Thursday.
California bill would allow pharmacists to dispense overdose remedy without prescription
SACRAMENTO, Calif. — Assembly Member Richard Bloom, D-Santa Monica, on Tuesday introduced legislation that would authorize a pharmacist to dispense the narcotic antagonist naloxone hydrochloride without a prescription in California.
Naloxone is used to treat overdoses of narcotic medications including morphine, codeine and oxycodone and works by reversing the side effects of the narcotic, such as sedation and decreased breathing rate.
If the bill passes, a pharmacist who completes one hour in continuing education on the use of narcotic antagonists will be able to dispense the overdose remedy either as part of an authorized prescriber agreement or under standardized procedures and protocols as determined by the Medical Board of California.
Takeda and Lundbeck announce Brintellix for treatment of MDD
DEERFIELD, Ill. — Takeda Pharmaceuticals U.S.A. and Lundbeck on Tuesday announced the availability of Brintellix (vortioxetine) — a once-daily oral antidepressant for treatment of major depressive disorder in adults — in pharmacies across the United States.
“MDD continues to be a challenging condition to manage, and we are proud to make Brintellix available as a new treatment option for people struggling with major depression,” said Douglas Cole, president of Takeda Pharmaceuticals U.S.A.
The clinical trial evaluating the safety and efficacy of the drug was comprised of seven studies, including six- to eight-week short-term studies and one 24- to 64-week long-term maintenance study that demonstrated significant improvements in overall symptoms of depression in adults with MDD, according to the companies.
“Our passion for helping people living with MDD has been the inspiration for advancing Brintellix from the laboratory through clinical studies, and now into the hands of those who need it,” said Staffan Schüberg, president of Lundbeck U.S. “This same passion fuels our ongoing commitment to supporting people with this often chronic and complex disease.”