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Specialty Pharmacy

  • Bristol-Myers Squibb completes Inhibitex acquisition

    NEW YORK — Bristol-Myers Squibb has completed its acquisition of a developer of hepatitis C treatments.

    Bristol said it successfully completed its tender offer for all of the outstanding shares of common stock of Alpharetta, Ga.-based Inhibitex, at a purchase price of $26 per share via a “short form merger” in which all such shares were converted into the right to receive the aforementioned share price in cash and without interest, less any applicable withholding taxes.

  • Valeant to acquire Eyetech

    MISSISSAUGA, Ontario — Valeant Pharmaceuticals is set to acquire a privately owned ophthalmic biotechnology company, the drug maker said Monday.

    Valeant said it will acquire Eyetech upfront payment and potential future milestones. The transaction, which is subject to customary closing conditions, is expected to close this week. Additional details were not disclosed.

  • FDA panel votes not to support Eisai, Astex cancer drug

    DUBLIN, Calif. — An expert panel at the Food and Drug Administration has given a thumbs-down to a drug made by Astex Pharmaceuticals and Eisai for which the two had sought approval as a treatment for leukemia.

    The FDA's Oncologic Drugs Advisory Committee voted 10-3 with one abstention not to support the risk-benefit profile of Dacogen (decitabine) in certain elderly patients with acute myeloid leukemia. The FDA is not bound by advisory committee votes when deciding whether or not to approve a drug, but usually follows them.

  • FDA releases draft guidance for biosimilars

    SILVER SPRING, Md. — The Food and Drug Administration reached a major milestone on the path to a regulatory regime for follow-on biologics on Thursday with the release of draft guidance on biosimilar product development.

  • The Apothecary Shops to distribute new Pfizer cancer drug

    PHOENIX — Specialty pharmacy provider The Apothecary Shops has inked a deal with Pfizer to distribute a new drug for treating kidney cancer.

    The specialty provider announced Wednesday that Pfizer had granted it distribution rights for Inlyta (axitinib), which the Food and Drug Administration approved on Jan. 27 for advanced renal cell carcinoma in patients who have failed one systemic therapy.

  • Amber Pharmacy adopts Armada's prior authorization system

    FLORHAM PARK, N.J. — Specialty pharmacy company Amber Pharmacy has implemented a prior authorization system provided by Armada Health Care, Amber said.

    Amber announced that it had incorporated Armada's Web-based ApproveRx system into its daily pharmacy operations, saying that it would help simplify the prior authorization process for prescribers and pharmacies. Prior authorizations have traditionally required extra staffing time and resources to locate the correct form from thousands of different insurance forms varying by drug, payer and plan.

  • Drug costs decline but remain high for many families, study finds

    NEW YORK — While the financial burden that families face due to prescription drugs has declined, costs nevertheless remain a challenge for many of them, according to a new study by nonprofit research organization Rand Corp.

  • Regulatory waiting period for Bristol's Inhibitex acquisition expires

    NEW YORK — The regulatory waiting period standing between Bristol-Myers Squibb and its acquisition of drug maker Inhibitex has expired, giving Bristol the green light to buy the company.

    Bristol said Friday that the expiration of the waiting period, mandated by the Hart-Scott-Rodino Antitrust Improvement Act of 1976, would allow it to acquire Inhibitex for $26 per share.

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