PHARMACY

Biovail Labs to distribute Aczone in Canada

BY Alaric DeArment

MISSISSAUGA, Ontario — Valeant Pharmaceuticals subsidiary Biovail Labs International has licensed Canadian rights to a treatment for acne from Allergan, Valeant said Tuesday.

Under the terms of the agreement concerning the drug Aczone (dapsone) gel in the 5% strength, Biovail will pay Allergan about $500,000 Canadian dollars (about $504,693) upfront, as well as payments based on net sales.

“Aczone gel is a strong addition to our Canadian business,” Valeant CEO J. Michael Pearson said. “This compound was originally approved in 2006 and never launched into the Canadian marketplace, providing Valeant Canada with a unique opportunity to strengthen and enhance our dermatology portfolio in Canada.”

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Teva reports Q4, full-year results

BY Allison Cerra

JERUSALEM — Drug maker Teva on Tuesday said its North American sales during the fourth quarter ended Dec. 31 drove the drug maker’s financial well-being.

Sales in North America for the fourth quarter reached $2.5 billion, accounting for 56% of total sales and representing an increase of 7% compared with the year-ago period. U.S. generic sales may have dropped 5% to $1.3 billion, but Teva noted that key contributors to the quarter’s sales included continued strong sales of generic versions of Effexor XR (venlafaxine) and Pulmicort Respules (budesonide), as well as continued solid sales of Copaxone.

For the full year, Teva said its North American sales rose 16% to nearly $10 billion.

Overall sales for the company reached nearly $4.42 billion in the fourth quarter, a 16% increase, while full-year sales rose to $16.1 billion from $13.9 billion in 2009.

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Medco School of Pharmacy to open at Fairleigh Dickinson

BY Alaric DeArment

MADISON, N.J. — Pharmacy benefit manager Medco Health Solutions is donating $5 million toward the construction of a new school of pharmacy in New Jersey.

Franklin Lakes, N.J.-based Medco announced that the Medco School of Pharmacy at Fairleigh Dickinson University would be New Jersey’s first pharmacy school affiliated with an independent university. The school will admit 85 students per year.

“For the last decade, Medco has pioneered new pharmacy practice models, with a particular focus on personalized medicine and specialized care for patients with chronic conditions in an effort to improve the overall health of our members and reduce costs for payers,” Medco chairman and CEO David Snow said. “We are proud to work with Fairleigh Dickinson University in the opening of the Medco School of Pharmacy and to offer our experiences and expertise in support of a new generation of pharmacy school graduates who will be able to apply their education across a wide range of healthcare fields.”

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