PHARMACY

Assured announces reverse stock split

BY Alaric DeArment

FRISCO, Texas — Specialty pharmacy provider Assured Pharmacy will reduce its stock through a reverse stock split, the company said Thursday.

The company, which trades on the pink sheets but seeks to eventually be listed on a larger exchange, announced that it had filed an amendment to its articles of incorporation whereby it would convert every 180 shares of stock to a single stock, reducing the total number of shares of outstanding common stock from 416,200,000 to 2,321,222, while reducing authorized shares of common stock from 3 billion to 16,666,667.

Assured’s board authorized the reverse stock split, which will take effect on April 15.

“This reverse stock split is another step taken in furtherance of positioning the company to seek a listing on a senior stock exchange,” Assured CEO Robert DelVecchio said.

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Report: Alabama pharmacy’s water faucet contaminated with bacteria

BY Alaric DeArment

NEW YORK — Nine people died in Alabama last month after taking a compounded injectable supplement contaminated with bacteria, according to published reports.

The New York Times reported that the patients died of infections with Serratia marcescens bacteria in hospitals after receiving the intravenously administered supplement total parenteral nutrition from the Birmingham, Ala.-based compounding pharmacy Meds IV Pharmacy.

The bacteria were in a water faucet that was used to clean the containers in which the supplement was mixed and the stirring device used to mix it, the Times reported.

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Novo Nordisk honored by National Hemophilia Foundation

BY Alaric DeArment

PRINCETON, N.J. — Danish drug maker Novo Nordisk has received the Corporate Leadership Award from the National Hemophilia Foundation in response to its research and development efforts for the disease, the company said Friday.

Novo Nordisk president Jurek Gruhn accepted the award at the NHF’s Inaugural Spring Soiree Benefit in New York Thursday. Novo Nordisk makes NovoSeven RT (coagulation factor VIIa [recombinant], room temperature stable), used to treat hemophilia A and B.

“We are honored by this recognition and are pleased to support NHF in its continued efforts to build a national movement toward better patient care in hemophilia,” Novo Nordisk corporate VP biopharmaceuticals Eddie Williams said. “We look forward to many more years of continued research, innovative treatments and initiatives to help improve the lives of patients.”

The company said it was dedicated to making advancements in strengthening the understanding of hemophilia in the broader society, improving access to diagnosis and patient care, and advancing treatment through innovation. It also supports SevenSecure, a program that offers access to financial, educational and medical support and provides funding for the Inhibitor Education Summits, designed for people living with hemophilia.

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