SUPPLIER NEWS — Watson has announced its intention to acquire Actavis, the company said. Following news reports that the U.S.-based generic drug maker would acquire Switzerland-based Actavis, Watson announced that it would buy the latter for $5.6 billion. News media had reported that the deal would be worth $5.9 billion, while there had been estimates in March that Watson would pay up to $7.3 billion.
“The acquisition of Actavis will create the third-largest global generics company, substantially completing Watson’s expansion as a leading global generics company,” Watson president and CEO Paul Bisaro said.
Watson noted that Actavis operates in more than 40 countries and markets more than 1,000 products around the world, with more than 300 projects in its pipeline and 2011 sales of about $2.5 billion.
The Food and Drug Administration has approved a new drug for treating erectile dysfunction, the agency said. The FDA announced the approval of Vivus’ Stendra (avanafil). “This approval expands the available treatment options to men experiencing erectile dysfunction and enables patients, in consultation with their doctor, to choose the most appropriate treatment for their needs,” FDA Office of Drug Evaluation III deputy director Victoria Kusiak said.
The Food and Drug Administration has approved a drug made by GlaxoSmithKline for certain cancer patients. GSK announced the FDA approval of Votrient (pazopanib) for patients with soft tissue sarcoma who have received prior chemotherapy. Soft tissue sarcomas are a group of rare cancers that affect the mesenchymal cells, which give rise to such soft tissues as muscles, nerves, fat and blood vessels. The incidence of STS was 10,980 in 2011, according to the American Cancer Society.
A company that manufactures pharmacy dispensing machines has moved into a new headquarters. RxMedic Systems announced the opening of its new headquarters in Wake Forest, N.C., a suburb of Raleigh. The company said expansion of product lines created the need to move into a new location. “With our recent growth, we had just outgrown our previous location,” VP David Williams said. “Now, we have much more space for both product development and manufacturing.”