Bristol-Myers Squibb completes Inhibitex acquisition
NEW YORK — Bristol-Myers Squibb has completed its acquisition of a developer of hepatitis C treatments.
Bristol said it successfully completed its tender offer for all of the outstanding shares of common stock of Alpharetta, Ga.-based Inhibitex, at a purchase price of $26 per share via a “short form merger” in which all such shares were converted into the right to receive the aforementioned share price in cash and without interest, less any applicable withholding taxes.
Bristol said it intends to delist and de-register Inhibitex common stock as promptly as practicable following the effective time of the merger.
Bydureon officially hits market
SAN DIEGO — Amylin Pharmaceuticals and Alkermes announced that their Type 2 diabetes treatment now is available by prescription in U.S. pharmacies.
Bydureon (exenatide extended-release for injectable suspension) received approval from the Food and Drug Administration on Jan. 27 as an adjunct to diet and exercise to improve glycemic control in adults with Type 2 diabetes.
In line with the official launch, the drug makers said eligible patients will have access to the Bydureon Steady Savings Card to help offset co-pay costs by saving up to $50 per month for up to 24 months. Details about the program can be found here.
Columbia Labs transfers NDA for reproductive drug to Watson
LIVINGSTON, N.J. and PARSIPPANY, N.J. — Columbia Labs has transferred a new drug application for a topical drug designed to prevent premature birth in pregnant women to Watson Pharmaceuticals.
Columbia Labs said Watson now has full rights and regulatory responsibility for all activities and sponsor obligations relating to the application for progesterone vaginal gel 8%. Late last month, the drug received a thumbs-down from an FDA panel that declined to recommend approval for it.
The FDA is expected to take action on the NDA by Feb. 26.
"We continue to enjoy a strong working relationship with Watson, and believe this is the appropriate time to transfer the NDA," Columbia Labs president and CEO Frank Condella said. "As a result of this action, shareholders and other stakeholders can be assured that Watson will provide the resources available, as a result of its position as a $4.6 billion global pharmaceutical industry leader, to support continued progress of this application."