The Apothecary Shops earns spot on Inc.’s fastest-growing private companies list
PHOENIX Diplomat Specialty Pharmacy isn’t the only one to earn a spot on Inc. magazine’s list of the fastest-growing private companies.
The Inc. 5000 also listed specialty pharmacy The Apothecary Shops, ranking 2,394. That marked a jump of 322 spots from last year and 1,682 spots from 2008 in its fourth annual appearance on the list.
Drug Store News reported Thursday on Diplomat’s inclusion on the list.
“It’s no secret that we have undertaken a very aggressive growth strategy for The Apothecary Shops, but our approach, particularly in a down economy, has been targeted and strategic to be in a solid position to leverage that growth when the economy turns,” The Apothecary Shops president Keith Cook said. “Our movement on the Inc. 5000 list of fastest-growing companies reflects the success of our strategic direction.”
Abbott acquires Piramal’s Healthcare Solutions business
ABBOTT PARK, Ill. Abbott has gained a foothold in the Indian drug market through its acquisition of the Healthcare Solutions business from Piramal, Abbott said.
Abbott announced Wednesday that it had completed its acquisition of the business, saying it would further accelerate its growth in emerging markets, which currently account for more than 20% of its sales. The company expects its pharmaceutical sales in India to be more than $2.5 billion by 2020.
“The acquisition of Piramal’s Healthcare Solutions business further strengthens Abbott’s growing presence in emerging markets,” Abbott chairman and CEO Miles White said. “Piramal’s portfolio of well-known, trusted products has served patients in India for decades.”
Shire, Acceleron Pharma ink development deal
CAMBRIDGE, Mass. British drug maker Shire is working with Cambridge, Mass.-based Acceleron Pharma to develop treatments for serious muscular disorders, Shire said Thursday.
The drug maker announced that the two companies would investigate ACE-031, a drug in mid-stage clinical trials as a treatment for Duchenne muscular dystrophy, a rare and fatal muscle disorder with no current treatment. The drug belongs to a class known as activin receptor type IIB, or ActRIIB molecules.
The two companies will work together to advance ACE-031 into a global phase-2 and -3 clinical program designed to demonstrate disease modification in patients with DMD.
Under the agreement, Shire will pay Acceleron $45 million upfront, and the latter company will be eligible for milestone payments of up to $453 million for ACE-031 and other molecules. If the drug manages to win regulatory approval, Acceleron will have rights to commercialize it in the United States and Canada, while Shire will have rights in other countries.