Caraco to acquire rights to several drugs from Forest Labs
NEW YORK Generic drug maker Caraco Pharmaceutical Labs will acquire rights to several drugs from Forest Labs under an asset purchase agreement between the two companies.
Caraco announced the agreement Friday as part of a settlement that it and parent company Sun Pharmaceutical Industries had entered with Forest Labs and Danish drug maker H. Lundbeck concerning Caraco’s regulatory approval application for the anxiety and depression drug Lexapro (escitalopram oxalate). Lundbeck had licensed Lexapro to Forest on an exclusive basis in the United States.
Under the agreement, Caraco will take over commercialization and sale of several products from Forest’s Inwood business, paying Forest an advance against royalties. Meanwhile, Forest will reimburse Caraco for a portion of its legal fees and provide licenses to Caraco for certain Lexapro patents as soon as a third-party generic version with Food and Drug Administration approval hits the market.
Bartell Drugs collects food for people in need
SEATTLE A regional retail pharmacy chain has collected enough food for more than 15,000 meals for people in need.
Bartell Drugs announced Thursday that its “Stock the Pantry” food drive, which it had conducted with Northwest Harvest and Fisher Communications, had collected 16,767 pounds of food through the chain’s 55 stores in King, Pierce and Snohomish counties.
“Year-around hunger is an unfortunate reality for many children and their families, as well as many seniors,” Bartell chairman and CEO George Bartell said. “Through the generous contributions by our customers, we’re proud to support Northwest Harvest with this effort.
The food drive was launched in May as a way to help Northwest Harvest replenish its food stocks during the summer months.
OSI Pharmaceuticals moving to Westchester Co., N.Y.
MELVILLE, N.Y. Biotech company OSI Pharmaceuticals plans to move its U.S. operations to a single campus in upstate New York, the company announced this week.
OSI announced that it had purchased a 43-acre site in Ardsley, a community in the town of Greenburgh, N.Y., and would move 350 employees from Melville and Farmingdale, N.Y., Cedar Knolls, N.J., and Boulder, Colo., to the new campus in the second half of this year.
“The past 10 years has been a remarkable journey as the company has successfully brought its first oncology product, Tarceva, to market and taken the business profitable,” OSI CEO Colin Goddard said. “Nonetheless, we have recognized that we will only truly capture the full strategic value of our oncology franchise if we simplify our business by bringing together all the elements of our U.S. operations onto a single site.”