Generic unipolar depression drugs may shrink market size
WALTHAM, Mass. The drug market for unipolar depression will get smaller over the next decade due to competition from generic drugs, according to a new report by market research firm Decision Resources.
The report, released Wednesday, found that the market would decrease by nearly 10% by 2019, to slightly more than $9 billion, due to generic competition for such drugs as Pfizer’s Effexor XR (venlafaxine), Eli Lilly’s Cymbalta (duloxetine hydrochloride) and Forest Labs’ Lexapro (escitalopram oxalate). At the same time, sales of some antipsychotic drugs, including Bristol-Myers Squibb’s and Otsuka’s Abilify (aripiprazole) and AstraZeneca’s Seroquel (quetiapine fumarate) will offset the decline.
“Atypical antipsychotics, most notably Abilify and Seroquel, will continue to have an increasing therapeutic role as adjunctive treatments to antidepressants in patients with treatment-resistant depression,” Decision Resources analyst Natalie Taylor said. “As a result, sales of atypical antipsychotics for unipolar depression will peak at just over $2 billion in 2011.”
Ideavillage Products to market, distribute Criss Angel magic kit
WAYNE, N.J. Famed illusionist and star of A&E’s “MindFreak” Criss Angel has partnered with Ideavillage Products to market and distribute his Platinum MindFreak magic kit.
The new magic line is geared toward people of all ages. The kit consists of more than 250 MindFreak tricks, including an instruction manual and DVD, as well as 6 individual MindFreak tricks with instructions. The kit is slated hit retail shelves next month.
“Criss Angel is a world class performing artist. It’s what he does best. TV is all about magic demonstrations which make it the perfect venue for introducing Criss’ new kit,” said Anand Khubani, Ideavillage Products CEO and founder. “Ideavillage is a leading marketer, product manufacturer, and distributor. The partnership just made sense because it allows both our organizations to use our talent and channel our energies in the right direction.”
Report: Bi-Lo goes up for sale
MAULDIN, S.C. Just a few months after completing its financial restructuring, Bi-Lo reportedly is for sale, according to published reports.
Reuters reported that the chain, which operates 207 stores across four states and is owned by Lone Star Funds, is being pursued by Kroger and Publix. Recently, Bi-Lo launched a health-and-wellness initiative called Thrive, which is designed to educate shoppers on healthy living alternatives. Bi-Lo also revealed itself as a “stronger, better” supermarket chain late last month at the grand reopening of its Greer, S.C., location.
“This redesigned store represents all the great things Bi-Lo is doing to provide customers tremendous savings without having to sacrifice the quality and service they desire,” Michael Byars, president and CEO of Bi-Lo, recently said. “We are proud of our teammates’ hard work on this collective effort and we look forward to exceeding the expectations of our customers.”
Lone Star declined to comment to the press regarding this matter.