Endo reports 2009 profits
CHADDS FORD, Pa. Endo Pharmaceuticals saw profits of $334.3 million in 2009, a 9% increase over 2008’s $305.7 million, according to the drug maker’s annual financial report.
The profit increase came on the back of a 16% increase in sales, from $1.26 billion to $1.46 billion, during the same period. Profits for fourth quarter 2009 increased by 11%, from $86.1 million to $95.1 million. This included $29 million in generic drug sales during the quarter, compared with $24 million in fourth quarter 2008.
“We had an excellent year with record revenues and earnings,” Endo president and CEO Dave Holveck said. “Not only did we continue to build a strong base business, we also expanded our therapeutic focus beyond pain into urology and oncology.”
Among branded pain drugs Lidoderm (lidocaine), and Frova (frovatriptan succinate) had decreases in sales, with Lidoderm sales going from $205 million in fourth quarter 2008 to $204 million in fourth quarter 2009, and Frova dropping from $17 million to $15 million. Meanwhile, Opana (oxymorphone hydrochloride) sales increased from $52 million to $64 million, while Voltaren (diclofenac sodium) increased from $12 million to $21 million. The endocrinology drug Supprelin (histrelin acetate) had sales of $10 million, while Vantas (histrelin) had sales of $20 million, and the bladder cancer drug Valstar (valrubicin) had sales of $3 million; because Supprelin and Vantas were acquired through Endo’s acquisition of Indus, and Valstar was re-launched, the company did not have fourth quarter 2008 sales data available for them.
FDA approves Menveo
CAMBRIDGE, Mass. Novartis has received Food and Drug Administration approval for a vaccine for meningococcal disease, the Swiss drug maker’s vaccines division announced Monday.
The FDA approved Menveo (meningococcal [groups A, C, Y and W-135] oligosaccharide diphtheria CRM197) to prevent meningococcal disease caused by Neisseria meningitidis bacteria.
The disease infects more than 500,000 people each year, killing as many as 1-in-7 who contract it; it is often fatal within 48 hours. About one-in-five who survive have serious side effects, including limb amputations, learning disabilities, seizures and paralysis.
“The FDA approval of Menveo is an important milestone for adolescent immunization in the United States,” Novartis vaccines division head Andrin Oswald said in a statement. “According to CDC estimates, approximately 16 million adolescents between the ages of 11 and 18 are at risk and remain unprotected against meningococcal disease.”
Watson CEO to serve as GPhA chairman
NAPLES, Fla. Watson Pharmaceuticals president and CEO Paul Bisaro will serve as the Generic Pharmaceutical Association’s chairman for 2010-2011, GPhA announced.
Bisaro has led Watson since 2007, after a stint as president and CEO of Barr Labs that began in 1999. He has served on GPhA’s board of directors since 2008, most recently as vice chairman.
“Paul will provide us with a steady hand as GPhA next navigates the often turbulent issues of health reform and the nation’s economic recovery,” GPhA president and CEO Kathleen Jaeger said. “GPhA looks forward to working with him, our board of directors and executive committee in what will be a challenging year.”
The organization also elected Mylan Pharmaceutical president Tony Mauro as vice chairman, New Chemic senior consultant Rosendo Ferran as secretary-treasurer. Nycomed U.S. CEO Paul McGarty, Teva North America president and CEO William Marth, Sandoz president and CEO Christine Mundkur and Zydus Pharmaceuticals president and CEO Joe Renner will serve as at-large members on the board’s executive committee.