Cardinal grants $1 million in health funding
DUBLIN, Ohio For the third consecutive year, the Cardinal Health Foundation has awarded more than $1 million in grant funding for U.S. hospitals, health systems and community health clinics.
The goal, the company noted, is to “improve the efficiency and quality of care” at those institutions. Forty organizations in 25 states will share in the funds, with individual grants ranging from $7,500 to $37,500.
Since the launch of its E3 Grant Program in 2008, the Cardinal Foundation has awarded 108 grants totaling more than $3 million “to help hospitals, health systems and clinics implement evidence-based best practices that improve patient safety and the cost effectiveness of health care.” The focus for the 2010 awards, according to the drug-distribution and health services giant, is “projects that will either improve medication management or improve efficiency and safety within the operating room.”
This year, the foundation also invited grant applicants to apply for scholarships to attend professional development programs hosted by the Institute for Healthcare Improvement. To that end, scholarships were handed out to individuals from 37 heathcare facilities to attend IHI professional development programs “that will teach them how to create a culture of safety within their organizations,” Cardinal noted.
“By improving medication and operating room safety and efficiency, healthcare providers can dramatically reduce healthcare costs and even more importantly, they can save lives,” said Cardinal Health EVP public affairs Shelley Bird, who chairs the foundation.
Among this year’s grant recipients: Grady Hospital Health Foundation in Atlanta; Johns Hopkins Health System in Baltimore; Memorial Sloan-Kettering Cancer Center and The Institute for Family Health in New York, the University of Alabama-Birmingham; Wayne State University; and the Cleveland Clinic Foundation.
Sanofi, Scripps Genomic Medicine form partnership
BRIDGEWATER, N.J. French drug maker Sanofi-Aventis and a division of San Diego-based nonprofit community health system Scripps Health will work together in the field of personalized medicine.
The two companies announced Tuesday the partnership between Sanofi and Scripps Genomic Medicine, under which Sanofi-Aventis Research & Development will fund up to three grants per year for research proposals from Scripps investigators.
“Our alliance with Sanofi-Aventis exemplifies the ideal collaboration between the pharmaceutical industry and nonprofit research community,” Scripps Health chief academic officer Eric Topol said. “The partnership aims to foster an environment of open scientific exchange in genomic medicine that we hope will translate to new discoveries to benefit patients while establishing a collaborative approach to drug development.”
Revenue, profit rise for Watson in Q2
MORRISTOWN, N.J. Generic drug maker Watson Pharmaceuticals posted strong sales for second quarter 2010, according to an earnings report.
Revenue for the quarter were $875.3 million, a 29% increase over second quarter 2009. Profit was $102.8 million, a 22% increase over last year.
“The second quarter was one of solid financial growth, consistent performance and continued progress against the strategies that will ensure growth of Watson’s global business,” Watson president and CEO Paul Bisaro said. “We continue to emphasize growing our businesses through product development and portfolio and market expansion.”
Generic drugs had global sales of $560.8 million, compared with $393.8 million in second quarter 2009. For the first six months of the year, generics sales were $1.09 billion, compared with $789 million during the same period last year.
Sales for Watson’s branded drugs segment were $76.9 million, compared with $97.6 million in second quarter 2009. The decrease was due mostly to Watson handing over marketing rights for the iron deficiency drug Ferrlecit (sodium ferric gluconate) to French drug maker Sanofi-Aventis in December.