Cardinal Health selected as exclusive pharmaceutical distribution partner for AAP
DUBLIN, Ohio Cardinal Health has been selected to be the exclusive pharmaceutical distributor for American Associated Pharmacies’ nearly 2,000 independent pharmacy members nationwide.
The American Associated Pharmacies is the parent company of Associated Pharmacies Inc. and United Drugs.
Cardinal Health previously had separate, exclusive distribution agreements with API and United Drugs, prior to their Sept. 1, 2009 merger. The new, multi-year agreement, effective last week, solidifies Cardinal Health as the primary pharmaceutical distributor for the combined entity’s nationwide pharmacy members. The new contract signifies a long-term partnership between Cardinal Health and AAP and better positions both companies to help independent retail pharmacies improve cost-effectiveness and efficiency.
“Since API and United Drugs joined together in September of this year, we have been very active establishing our new parent company, AAP, while also focusing on ways to strengthen our well-established relationships with Cardinal Health,” said Jon Copeland, CEO of AAP. “Throughout the entire process, we’ve had only one goal: The greater success of our members. Now, with AAP’s new agreement with Cardinal Health, we’ve made a giant step toward achieving that goal.”
As part of the agreement, AAP members will have access to an extensive portfolio of branded and generic pharmaceuticals from Cardinal Health. They will also have access to a broad array of Cardinal Health solutions and services designed to help independent pharmacies improve profitability and efficiency. AAP members will also have access to select Cardinal Health services and solutions, including customized reimbursement consulting services, reconciliation services that ensure payors pay reimbursements in full and tools that help retailers market and increase non-prescription sales to drive diversified revenue growth.
“Cardinal Health, Associated Pharmacies, Inc. and United Drugs share a passionate commitment to supporting the growth of independent pharmacies,” said Mike Kaufmann, CEO of Cardinal Health’s pharmaceutical segment. “Through Cardinal Health’s strong generics program and our powerful, customized portfolio of supply chain, operational and financial performance solutions, we’ll work hand-in-hand with AAP to help their nearly 2,000 independent pharmacy members improve cost effectiveness and efficiency so they can focus on what they do best – care for patients.”
Report: Cipla in generic drug supply talks with GSK, Teva
NEW YORK An India drug maker is in generic drug supply talks with two companies, according to reports.
Cipla said it is in talks with GlaxoSmithKline and Teva to supply the companies with generic drugs.
“It may be specifically for one or two products — it is not a down-the-line drug deal,” Cipla chairman Yusuf Hamied told Reuters.
Cipla is one of the world’s biggest producers of low-cost antiretroviral drugs to fight HIV and AIDS. Last month, the company announced the launch of a generic H1N1 treatment.
Taro elects directors in shareholders meeting; Sun disapproves
HAWTHORNE, N.Y. An Israeli drug maker said that its shareholders voted to elect all of the directors who were up for election, with the exception of the statutory external directors, at its annual shareholders meeting held Dec. 31.
The shareholders also approved the ratification of indemnification for non-executive directors and the appointment of the Taro’s independent auditors.
The company said that it stands behind its nominees for statutory external directors and their qualifications, and further stated that it would continue its efforts to elect statutory external directors as required by Israeli law, despite the efforts of Sun Pharmaceutical Industries to block their election. Sun has claimed that Barrie Levitt, Taro’s chairman, signed contractual obligation to sell Taro’s shares to Sun at a pre-defined price in June 2008. Sun said, however, that Levitt and the company “have prevented the close of this transaction through improper use of Taro resources.”
Sun has sought to acquire Taro for some time. In August 2008, Sun’s tender offer to acquire the company expired, but said that it would once again seek to acquire Taro. In late September, Taro sued Sun in the U.S. District Court for the Southern District of New York, alleging that Sun failed to disclose information to Taro shareholders, and misappropriating confidential information about Taro as part of its efforts to acquire the company – which it has sought to do since June 2008 – and illegally using it to undermine Taro’s relationships with customers and revenues.