PHARMACY

BioScrip appoints new CFO

BY Alaric DeArment

ELMSFORD, N.Y. — Specialty pharmacy provider BioScrip has appointed Hai Tran as SVP, treasurer and CFO, the company said.

Effective May 14, Tran will replace M.J. Graves, who has served as the company’s interim CFO and treasurer since January 2011.

"Hai has a successful and long-standing track record, which combines strong financial skills, depth of experience in managing financial and accounting operations in high-growth environments and acquiring and integrating businesses," BioScrip president and CEO Rick Smith said. "We believe Hai’s experience will be particularly important as we execute the next phase of our growth initiatives, specifically expanding our footprint in infusion services and continuing to execute in our other businesses where we have key strengths."

Tran previously served as CFO and VP international of Harris Healthcare Solutions, a division of Harris. Prior to that, he served as CFO of the PBM Catalyst Health Solutions. He has also worked for Hanger Orthopedic Group, Cadmus Communications and other companies.


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PHARMACY

Dr. Reddy’s launches generic version of Zyprexa

BY Alaric DeArment

HYDERABAD, India — Dr. Reddy’s Labs has launched a generic version of an Eli Lilly drug used to treat psychiatric disorders, the company said Tuesday.

Dr. Reddy’s announced the launch of olanzapine tablets in the 2.5-mg, 5-mg, 7.5-mg, 10-mg and 15-mg strengths.

The drug is a generic version of Zyprexa, used to treat schizophrenia and bipolar disorder. Generic and branded versions of the drug had sales of about $3.28 billion during the 12-month period ended in January, according to IMS Health.


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Reports: Watson to buy Actavis

BY Alaric DeArment

NEW YORK — Watson Pharmaceuticals is buying Actavis Group for $5.9 billion, according to published reports.

News media reported Tuesday that U.S.-based Watson would buy Switzerland-based Actavis for 4.5 billion euros and that it would make the official announcement Wednesday.

In March, various media reported that Watson was looking to buy Actavis, originally based in Iceland, for up to $7.3 billion in a deal that was seen as likely to go through by the end of this month.

According to reports, people familiar with the matter suggested that part of the reason for the merger was to give Watson a larger presence in Europe.


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