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Forest Labs closes deal on Furiex Pharmaceuticals for $1.1 billion

BY Michael Johnsen

DUBLIN – Actavis on Wednesday announced that its subsidiary Forest Labs has successfully completed its acquisition of Furiex Pharmaceuticals in an all-cash transaction valued at approximately $1.1 billion, and up to approximately $360 million in a Contingent Value Right that may be payable based on the status of eluxadoline, Furiex's lead product, as a controlled drug, following approval.
 
In connection with the close of the Furiex acquisition, Actavis further announced that it has closed the transaction related to the sale of Furiex's royalties on alogliptin and Priligy to Royalty Pharma for approximately $415 million.
 
"The strategic acquisition of Furiex strengthens Actavis' focus on gastroenterology where we are an industry leader, positioning us for continued long-term growth in IBS treatment," said Brent Saunders, CEO and president of Actavis. "Furiex's lead development product eluxadoline is a natural extension to our GI business, complementing our Linzess, Asacol and Delzicol franchises, as well as the products acquired as part of the acquisition of Aptalis earlier this year. If approved, eluxadoline could represent a significant advance in the treatment of IBS-D, and would give Actavis one of the broadest product offerings for the $38 billion GI disease market," he said. "This product, if successful, would make Actavis even more relevant to gastroenterologists and primary care physicians in meeting significant patient needs."
 
Eluxadoline is a first-in-class, locally-acting mu opioid receptor agonist and delta opioid receptor antagonist for treating symptoms of diarrhea-predominant irritable bowel syndrome (IBS-D), a condition that affects approximately 28 million patients in the United States and Europe. In February 2014, Furiex announced top-line results indicating the company's two pivotal Phase III clinical trials evaluating the efficacy and safety of eluxadoline in the treatment of IBS-D met both the Food and Drug Administration and the European Medicines Agency formally agreed-upon primary endpoints of composite response based on simultaneous improvements in stool consistency and abdominal pain.
 
Actavis expects to be in a position to announce an acceptance for filing of the new drug application for eluxadoline by the end of the third quarter of 2014.
 
 
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American Diabetes Association CEO to step down

BY Michael Johnsen

ALEXANDRIA, Va. – Larry Hausner, CEO of the American Diabetes Association. on Tuesday announced that he will step down as CEO, effective July 31, 2014, to pursue new opportunities in his native New York metro area. The ADA board of directors expressed gratitude to Hausner for his seven years of service.
"During his tenure, Hausner has been instrumental in leading the Association through a number of successful initiatives. Under his guidance, the Association launched the Stop Diabetes movement, creating improved brand awareness for the organization and our cause," the ADA stated. "In addition, Hauser has overseen the introduction of a successful diversity and inclusion initiative within the Association, which helped improve the diversity of our board of directors from 18% to 42%. Other notable Association achievements during Hausner' s tenure include the development and successful launch of our innovative new research program, Pathway to Stop Diabetes, growth of our Safe at School program and our successful efforts to protect the rights of those with diabetes during the debate over healthcare reform."
The search for a new CEO will commence immediately, and an interim CEO will be named by mid-July, ADA announced. 
 
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BOOM! By Cindy Joseph! launches Boomstick Minis

BY Antoinette Alexander

NEW YORK — BOOM! By Cindy Joseph!, which was founded by model and makeup artist Cindy Joseph, has expanded its portfolio with the new Boomstick Minis.

The perfect addition to regular size Boomsticks, beauty mavens can now carry the same Color, Glimmer and Glo for touch-ups when out and about.

BOOM! By Cindy Joseph is a line of products that create the same glow a woman's skin generates when she is having fun and turned on to life. Whether laughing, dancing or romancing, a woman's circulation revs up with the same color and shine that Boomstick Minis create in one quick and easy application.

Throughout her 25-year career as a makeup artist, and then becoming a supermodel at age 49, Joseph has promoted ageful beauty, celebrating women of every generation.

Each Boomstick Mini is a universal and essential shade for cheeks, eyelids, lips, decollate, shoulders or anywhere consumers want to enhance their natural beauty for both day and evening. Boomstick Minis eliminate the myriad of products and applicators that create an overstuffed cosmetics bag.

 

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