Forest Labs set to acquire Furiex for $1.1 billion
NEW YORK & MORRISVILLE, N.C. — Forest Labs and Furiex Pharmaceuticals on Monday announced that Forest will acquire Furiex for $95 per share, or approximately $1.1 billion in cash.
Forest also announced that it has entered into an agreement with Royalty Pharma to sell Furiex’s royalties on alogliptin and Priligy to Royalty Pharma for approximately $415 million upon the completion of Forest’s acquisition of Furiex.
“The acquisition of Furiex builds on our growing position in gastroenterology and helps to create a leading GI company within Forest. It is a natural extension of our GI business following our $2.9 billion acquisition of Aptalis earlier this year,” said Brent Saunders, CEO and president of Forest Labs. “We believe eluxadoline will be very complementary to our anchor GI product Linzess and additive to our broader GI portfolio, making us more relevant to gastroenterologists and primary care physicians. With eluxadoline, we expect to have one of the broadest product offerings for the $38 billion GI disease market.”
Eluxadoline is a locally-acting mu opioid receptor agonist and a delta opioid receptor antagonist for treating symptoms of diarrhea-predominant irritable bowel syndrome (IBS-d). IBS-d affects approximately 28 million patients in the United States and Europe, and Furiex is set to file a new drug application for the drug by the end of third-quarter 2014.
Estée Lauder names new VP corporate global communications
NEW YORK — The Estée Lauder Cos. have named Christopher C. Giglio as VP corporate global communications. He will report to Alexandra C. Trower, EVP global communications.
Giglio will play a key role in ensuring proactive, globally aligned and locally relevant corporate communications, including media relations, internal and external communications, and executive communications for the Estée Lauder Cos. He will join Trower as a close partner with investor relations to help drive strategic financial communications, and liaise with the brand communications teams to help strengthen the company’s corporate reputation.
“Chris brings a unique balance of global business acumen and communications expertise. I am thrilled to welcome him to our company. With his proven leadership in strategic communications and reputation management, he will play a key role in delivering the company’s long-term growth strategy by elevating and protecting the reputation of The Estée Lauder Companies and its portfolio of prestige beauty brands globally,” Trower said.
“I am excited and honored to join the Estée Lauder Companies — a company known for its rich history and strong values, and a leader in the prestige beauty industry. I look forward to working with the talented global communications team and the business leaders across the company, as well as fostering even greater communications opportunities and efforts to further benefit the company,” Giglio said.
Giglio has more than 25 years of experience, most recently serving as EVP of the corporate and crisis communications practice at HL Group, a marketing and communications firm servicing corporate, consumer, fashion and lifestyle clients. During his tenure with HL Group, Giglio provided strategic executive and corporate positioning for its clients and established the firm’s crisis communications practice while significantly growing the firm’s client base globally.
Prior to joining HL Group, Giglio held senior positions in the fields of crisis management, journalism and communications. He was a director at Kroll Associates, a leading crisis management and investigations firm, working with teams that provided their diverse client base with complex strategies and business intelligence. During his time at Kroll, Giglio was based in Hong Kong for several years and worked extensively in the Middle East. He left Kroll to join NBC News and became an investigative producer on “Dateline.” At NBC, he specialized in investigative stories, breaking news and political reporting. Following his tenure at NBC, he joined Rubenstein Associates and worked closely with the firm’s founder, Howard Rubenstein, advising attorneys, executives and high profile individuals on media relations, corporate positioning and issues management.
Anoro Ellipta now available in retail pharmacies
LONDON — GlaxoSmithKline and Theravance on Monday announced that Anoro Ellipta (umeclidinium and vilanterol inhalation powder), a once-daily that combines two long-acting bronchodilators in a single inhaler, is now available in retail pharmacies in the United States.
Anoro Ellipta is used for long-term maintenance treatment of airflow obstruction in patients with chronic obstructive pulmonary disease. It is not indicated for the relief of acute bronchospasm or the treatment of asthma. The FDA-approved strength is umeclidinium/vilanterol 62.5/25-mcg.
“We understand that COPD is a progressive disease affecting an estimated 27 million people in the U.S. alone,” said Jorge Bartolome, SVP of the GSK respiratory business unit in the United States. “Anoro Ellipta is an important treatment option for appropriate patients with COPD, and we are proud to make it available in the U.S.”
The FDA approved Anoro Ellipta on Dec. 18, 2013.