News

Elan buys Austrian drug maker, stake in Dubai drug maker

BY Alaric DeArment

DUBLIN — Irish drug maker Elan Corp. is paying about $380 million to buy one drug maker and a large stake in another, the company said.

Elan announced plans to buy Vienna-based AOP Orphan Pharmaceuticals for about $340 million, a company that specializes in drugs for rare conditions in a variety of areas, including cancer, neurology and metabolic disorders. Elan also paid an initial $40 million to buy a 48% stake in Newbridge Pharmaceuticals, based in Dubai, United Arab Emirates. Elan will have the option to buy the rest of the company for $244 million by 2015.

"Our proposed package of transactions is designed to create a balance of risk with the benefit of diversification to produce long-term growth in income and value," Elan CEO Kelly Martin said.


Get connected and follow us on LinkedIn for the most in-depth coverage of drug store news. Join the conversation.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Frajo to distribute, market Coty mass/masstige brands in Brazil’s retail channel

BY Antoinette Alexander

NEW YORK — Coty has announced that it will form a joint venture in Brazil with Brazilian cosmetics distributor Frajo Internacional to distribute and market Coty mass/masstige brands in the retail channel.

"Brazil is one of the largest markets in the beauty industry," stated Michele Scannavini, CEO of Coty. "Frajo is the right partner, sharing our passion for beauty. Together, we look forward to introducing new Coty brands into this key market."

This deal will expand Coty’s go-to-market capabilities in the region. Currently, Coty has an existing commercial partnership in Brazil to distribute certain brands through a door-to-door distribution model. The company also has a distributor representing its Prestige products in the region.


Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

PetArmor introduces FastAct flea and tick shampoo, spray

BY Jason Owen

YARDLEY, Pa. — PetArmor is introducing two new products to retail shelves the company states will provide a "1-2-3 punch" to keep pets pest-free.

FastAct Flea and Tick Shampoo and Spray can be used to provide both immediate relief and long-term prevention of flea and tick infestations, FidoPharm, a science-based pet health company and makers of PetArmor, said.

The "1-2-3 punch" is a three-step process when pet owners first see the signs of fleas or ticks:

  • Step 1: At first sign of fleas or ticks, use FastAct Flea & Tick Shampoo. The shampoo contains pyrethrin, which is derived from flowers and kills fleas and ticks on contact while conditioning the pet’s coat and washing away the "flea dirt" that flea larvae need to survive. Pet parents should apply the shampoo all over, including the neck, chest, middle, hindquarters and legs, and paying special attention to the areas frequented by fleas including footpads, between toes, underbody areas and the base of the tail. FastAct Flea & Tick Shampoo is approved to use on dogs and cats over 12 weeks old.
  • Step 2: Next, use FastAct Flea & Tick Spray to target existing flea and tick infestations and protect specific areas of the home where pets may go. The spray kills and repels adult fleas, ticks and lice on contact, and kills flea eggs and larvae, inhibiting flea re-infestation for up to 100 days. The spray can be used directly on the pet and its environment, such as pet bedding, carpets, draperies, pet carriers and upholstery. FastAct Flea & Tick Spray is approved to use on dogs over six months old and cats over seven months old.
  • Step 3: Finally, to ensure fleas and ticks don’t return, apply PetArmor for Dogs, PetArmor for Cats or PetArmorPro Advanced for Dogs monthly. Both products contain the same No. 1 vet-recommended active ingredient, fipronil, found in Frontline Plus and Top Spot to kill fleas and ticks. PetArmorPro Advanced for Dogs also contains a second active ingredient to repel fleas, ticks and mosquitoes from biting in the first place.

FastAct Flea & Tick Shampoo and Spray retail for $11.99 and $14.99. Both are available at Walmart, Target and other major retailers nationwide. PetArmor for dogs and cats retails for $25 for a 3-month supply and is available at Walmart, Target and other major retailers nationwide. PetArmorPro Advanced is available for dogs of all sizes at Walmart and retails for $29 for a 3-month supply.


Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES