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Auxilium, Prasco partner for generic Testim

BY Ryan Chavis

CHESTERBROOK, Pa. — Auxilium Pharmaceuticals, a specialty biopharmaceutical company, on Wednesday announced that it has partnered with Prasco to debut the authorized generic form of Testim gel, which is used to treat adult males with low or no testosterone.

"While Testim has continued to represent an important portion of Auxilium’s net sales, we have been proactively planning for this launch in an effort to most strategically position our product franchise to compete in the increasingly crowded and challenging Testosterone Replacement Therapy (TRT) gel market," said Adrian Adams, CEO and president of Auxilium. "We believe the launch of this Authorized Generic of Testim with Prasco could expand the Testim franchise market, build upon our efforts to manage Testim as a mature brand and enable Auxilium to realize maximum shareholder value."

Auxilium will be responsible for the manufacture of the drug and the authorized generic form, as well as for the distribution of branded Testim, the company said.

 

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Carex Health Brands launches AccuRelief TENS devices

BY Michael Johnsen

NORWELL, Mass. — Carex Health Brands on Thursday introduced AccuRelief Pain Relief Systems, a line of transcutaneous electrical nerve stimulation (TENS) therapy FDA–approved for full-body, over–the–counter use.

A pain-abatement technology, TENS devices work to block the nerve pathway from transmitting pain signals from the pain site to the brain while simultaneously increasing endorphin production.

“Unlike our competition, our electrotherapy products are born out of a long history of prescription–only and professional TENS devices used and prescribed by physical therapists and chiropractors,” stated Jeff Swain, director of marketing at Carex Health Brands. “Now, due to the FDA’s allowance for over-the-counter sale of TENS devices without a prescription, we’re able to utilize our expertise to provide well-deserved pain relief to the masses in a non-prescription device.” Swain also noted that AccuRelief is a complete line of TENS therapy devices with a “good, better, best” product offering from economy to clinical grade units.

The AccuRelief family consists of four different devices providing a variety of options and price points:

  • The AccuRelief Mini TENS Device, a compact TENS unit that delivers targeted and effective pain relief (MSRP: $29.99);
  • The AccuRelief Single Channel TENS Device, a unit that allows the user to choose from six pre-set body programs (MSRP: $39.99);
  • The AccuRelief Dual Channel TENS Device, a unit with dual-channel functionality similar to prescription units that is able to treat large, complex body parts like the lower back or shoulder (MSRP: $49.99); and
  • The AccuRelief Wireless Remote Control TENS Device, a wireless compact electrical TENS unit for those hard-to-reach areas using a remote control (MSRP: $89.99).

Carex also offers a full line of AccuRelief replenishment supplies designed to work specifically with each of the AccuRelief device.

 

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Interim CEO John Mulligan outlines priorities guiding Target’s recovery in 2014 during shareholder meeting

BY Antoinette Alexander

MINNEAPOLIS — While acknowledging that Target faced a series of setbacks in 2013 — including a data breach just before the holiday season — CFO John Mulligan, who is also serving as interim president and CEO, expressed optimism during its annual meeting of shareholders and said the company has the resources, talent and plan in place to move beyond its challenges.

In addressing shareholders during Wednesday’s webcast meeting, Mulligan acknowledged that the company “fell well-short of its financial performance expectations for the year and encountered unexpected challenges with our Canada operations that adversely effected our results. And we faced a criminal attack on our systems that caused a data breach as we entered the holiday season and shook our guests’ confidence. Fortunately, we have the resources and the ability to move beyond these challenges.”

Mulligan, who assumed the role of interim president and CEO in May following the resignation of chairman, president and CEO Gregg Steinhafel, went on to outline the top three priorities guiding Target’s recovery in 2014 —

  • Grow traffic and sales in the company’s U.S. segment. Specifically, the company plans to deliver more merchandising newness and innovation, more presentation excitement and attractive promotions. As an example, Mulligan pointed to the company’s recent debut of “Made to Matter – Handpicked by Target” — a first-of-its-kind collection that brings together 17 natural, organic and sustainable brands;
  • Improve the Canadian segment performance. “Canada is a great market and Target has the retail knowledge and skill to deliver the experience that our Canadian guests expect and deserve,” Mulligan told shareholders. To help drive faster improvements, the company recently made changes to the Canada leadership team and has plans to announce a non-executive chair in Canada. The newly created advisory role will help ensure strategy and tactics align with the Canadian marketplace;
  • Accelerate its digital transformation and become a leading omnichannel retailer. “To do this, we will move even faster to become more nimble and flexible in how we serve our guests. This means we are testing and iterating more concepts and continuing to shift our investments away from square footage growth and into technology and supply chain capabilities to make our digital and physical assets work harder together,” Milligan told shareholders. Milligan also noted the recent formation of its Digital Advisory Council as part of its efforts to accelerate its digital transformation.

“Target is a great company whose best days are ahead. Constantly improving upon our guest shopping experience is part of who we are and how we operate. The experience we gained and the investments we made in the last year are enabling our continued transformation, helping us modernize how we deliver our ‘Expect More. Pay Less’ brand promise, and deliver on our goal to become a truly omnichannel retailer,” Mulligan told shareholders. “… I believe we have the team, the capital and the plan we need to continue transforming Target to succeed for many years to come.”

 

 

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