Generics

WOODCLIFF LAKE, N.J. — Generic drug maker Par has inked a definitive agreement to acquire an India-based developer and manufacturer of generic drugs.

Par said it will acquire Edict Pharmaceuticals for up to $37.6 million in cash and Par's repayment of certain additional pre-close indebtedness. Par noted the acquisition is subject to customary conditions and approvals; the drug maker expects to complete the transaction by the end of the year.

SUPPLIER NEWS — The FDA has approved a new treatment for Type 2 diabetes, the agency said. The FDA announced the approval of Tradjenta (linagliptin) made by Indianapolis-based Eli Lilly and German drug maker Boehringer Ingelheim.


DUBLIN — Sandoz is looking to market a generic version of a Shire drug for treating attention deficit hyperactivity disorder.

PARSIPPANY, N.J. — Global spending on medicines will reach nearly $1.1 trillion by 2015, according to a new study by market research firm IMS Health.

ORLANDO, Fla. — Cancer drugs are expected to see sharp increases in spending and use by 2013, according to the latest drug trend report by pharmacy benefit manager Medco Health Solutions.

The overall drug trend for 2010 was 3.7%, lowered by higher rates of generic drug dispensing; more than 71% of drugs dispensed were generics. Specialty drugs, mostly branded biologics, accounted for 70.1% of the overall drug trend, with especially strong growth in cancer drugs, whose drug trend reached 21.2%.

PARIS — A court in France has ordered generic drug maker Mylan to pay French drug maker Ipsen $24 million for allegedly misleading marketing of a drug, according to published reports.

Bloomberg reported that Mylan had allegedly marketed the drug Vitalogink as a generic version of Ipsen’s Tanakan rather than as a “therapeutic equivalent.” Both drugs are derived from ginkgo biloba and are used to improve memory.

Mylan has said it will appeal the decision, Bloomberg reported.

ALLEGAN, Mich. — Perrigo on Monday announced that it has received final approval from the Food and Drug Administration for its abbreviated new drug application for over-the-counter ranitidine 150 (regular and cool mint), a generic version of Zantac 150.

Zantac 150 has annual sales of approximately $110 million, as measured by SymphonyIRI Group, Perrigo reported.

JERUSALEM — Generic drug maker Teva Pharmaceutical Industries will acquire a privately owned manufacturer of generic drugs based in Japan, Teva said Monday.

Teva announced the purchase of a 57% stake in Nagoya, Japan-based Taiyo Pharmaceutical Industry Co. for $460 million, with plans to extend its offer to purchase all remaining shares of the company.