Ferring buys rights to Xanodyne’s Lysteda
SAINT-PREX, Switzerland Ferring Pharmaceuticals has bought global rights to a women’s health drug made by U.S. drug maker Xanodyne Pharmaceutical, Ferring said Monday.
Ferring, based in Switzerland bought the rights to Lysteda (tranexamic acid), used to treat women with cyclic heavy menstrual bleeding, a condition estimated to affect up to 22 million women in the United States. The Food and Drug Administration approved the drug in November. Financial terms of the deal were not disclosed.
“Ferring, as a global, privately held biopharmaceutical company, has a long-standing commitment to the health of women worldwide,” Ferring Holding chief executive Michel Pettigrew said in a statement. “The acquisition of Lysteda, in addition to our ongoing support of research and medical education in the field of reproductive health, demonstrates this significant commitment and represents an important addition to our women’s health portfolio.”
Reports: Billionaire investor seeks to push out Genzyme CEO
NEW YORK Billionaire investor Carl Icahn is trying to kick Genzyme CEO Henri Termeer off the company’s board of directors, according to published reports.
The New York Times reported this week that Icahn had filed a proxy statement with the Securities and Exchange Commission saying he wanted to replace four of the company’s executives, calling the company “broken.” The biotech manufacturer has recently faced manufacturing problems leading to shortages of two of its drugs.
On Thursday, Genzyme announced that it would buy back $2 billion worth of stock and also seek to offload its genetic testing, diagnostic products and pharmaceutical intermediates businesses by spinning them off, divestiture or management buyouts.
“Genetics and diagnostics are strong businesses that are both leaders in their fields,” Termeer said. “However, as we evaluated our company to create a mix of businesses that will delivery sustainable growth and stronger returns on invested capital, it became clear that these businesses do not fit within this strategy.”
Whole Foods Market opens new flagship in Southern California
TARZANA, Calif. Whole Foods Market announced that it is opening its newest flagship store in Tarzana, Calif.
According to company, the 30,000-sq.-ft. sales floor will feature all the local, natural and organic products that Whole Foods Market customers expect plus a collection of specialties designed to bring the community’s favorite international flavors to Whole Foods Market’s newest location. The store will feature sit-down eateries, a wine bar and the largest olive bar in Los Angeles, according to Whole Foods.
“On behalf of the store’s 200 team members and our local businesses, farmers and vendor partners, I would like to thank the Tarzana community for the warm welcome,” said George Khoury, Whole Foods Market Tarzana store team leader. “We are proud to be a part of this exciting and unique neighborhood and look forward to building strong relationships with our neighboring businesses and families. We hope to be more than your local grocery store — we’d love to be your neighborhood gathering place.”