Depomed announces retirement of CFO John F. Hamilton
MENLO PARK, Calif. Depomed’s president of finance and chief financial officer has retired, the company announced Thursday.
John Hamilton’s resignation was made effective Oct. 12. Hamilton, who served as vice president of finance and CFO for the company for 11 years, will continue to serve Depomed as a consultant to ensure an orderly transition to a successor.
The company also announced that its board of directors has designated the company’s controller, Tammy L. Cameron, as the company’s provisional principal accounting and financial officer. Cameron joined the company earlier this year, and brings to Depomed nearly 20 years of accounting and commercial financial expertise, most recently as Adeza Biomedical Corp.’s controller.
Synta and GSK enter into $1.1 billion deal
LONDON and LEXINGTON, Mass. Synta Pharmaceuticals and GlaxoSmithKline have agreed on a collaboration for the joint development and commercialization of STA-4783, a new drug entering phase-three clinical development for the treatment of metastatic melanoma.
Under the terms of the agreement, the companies will share responsibility for the development and commercialization of the drug in the United States, with GlaxoSmithKline having exclusive rights outside of the United States. Synta can earn up to $1.1 billion as a result of this agreement in development, upfront payments, stock purchases and milestone payments.
“This agreement confirms GSK’s growing status as a world leader in the development of new oncology medicines for use in the treatment, prevention and supportive care of cancer patients. It further strengthens our late stage oncology pipeline, which currently includes ten phase-three programs, and also demonstrates our commitment to identifying compounds that have the potential to deliver real benefit to patients,” said Moncef Slaoui, chairman of research and development at GSK. “The data we have seen from the phase-two trials conducted by Synta have given us confidence in the potential of STA-4783 as a novel means of treating metastatic melanoma, a disease for which there is high unmet medical need.”
CMS updates Medicare Part D Web site
WASHINGTON The Centers for Medicare and Medicaid Services has updated its Medicare Prescription Drug Plan Finder, so that senior citizens and other beneficiaries can begin to review 2008 Part D drug plans.
The finder offers beneficiaries a chance to compare drug plans and health plans, view premiums, formularies and availability of coverage in the gap. CMS wanted to make the finder as easy as possible to use and provide as much information as possible so that beneficiaries are ready before the open enrollment begins on Nov. 15.