BioScrip reports 25% revenue increase

   

ELMSFORD, N.Y. (Jul. 30) Specialty pharmacy provider BioScrip had a big increase in revenues in second quarter 2010, according to an earnings report released Friday.

The company had revenues of $412 million, a 25% increase from second quarter 2009’s $328.7 million. That included pharmacy revenues of $305.4 million, a $13.1 million increase over last year, and infusion and home health revenues of $106.7 million, a $70.3 million increase. Profits were $3.1 million, compared with $4.4 million in second quarter 2009, though consolidated gross profit was $73.5 million, compared with $38.4 million last year.

“The [Critical Homecare Solutions] acquisition is meeting all of our expectations,” chairman and CEO Richard Friedman said. “Our strong second-quarter results reflect the execution of our vision for margin and geographic expansion with a focus on increasing profitability through a targeted approach. We are focused on changing the paradigm of healthcare services in the alternative site and home care setting.”

For the first six months of the year, revenues were $747.1 million, compared with $654.5 million in 2009, including $594.3 million from pharmacy services, compared with $583.7 million last year. Infusion and home health services had revenues of $152.8 million, compared with $70.8 million last year.

Drug makers begin shipping flu vaccines

   

SWIFTWATER, Pa. (Jul. 30) Flu season is starting early this year, and two drug makers have begun shipping influenza vaccine for the 2010-2011 season.

Sanofi-Aventis vaccines division Sanofi Pasteur and British drug maker GlaxoSmithKline said Friday that they had begun shipments of the first of more than 100 million doses of seasonal flu vaccine. Sanofi markets the Fluzone vaccine, while GSK markets FluLaval, which protects against seasonal flu and the H1N1 pandemic flu and is used in adults. GSK also will begin shipping the Fluarix vaccine, which is approved for those ages 3 years and older.

“The spread of seasonal flu remains an important public health issue and takes the lives of approximately 36,000 people each year,” GSK VP U.S. vaccines Peter Lammers said.

More speculation surrounds rumored Sanofi-Genzyme deal

   

NEW YORK (Jul. 29) More hints that French drug maker Sanofi-Aventis could soon become the proud owner of Cambridge, Mass., biotech company Genzyme emerged Thursday, according to published reports.

The Financial Times reported that Sanofi CEO Chris Viehbacher had “left open” the option of a $19 billion takeover of Genzyme, but would not give specific details.

Genzyme could turn out to be quite a prize for Sanofi. It has long carved a niche for itself by developing biologic treatments for rare genetic disorders like Fabry disease and Gaucher’s disease. In May, the Food and Drug Administration approved Lumizyme (alglucosidase alfa), its treatment for Pompe disease, a disorder that causes muscle weakness. A month later, the agency agreed to expedite the regulatory review of its multiple sclerosis treatment, Campath (alemtuzumab).

Still, the company has run into trouble since the discovery of contamination of its drugs due to manufacturing problems at a plant in the Boston area, which required it to pay $175 million to the federal government and submit to FDA inspections and led to shortages of drugs.