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Former P&G head A.G. Lafley appointed to board of Legendary Entertainment

BY Antoinette Alexander

BURBANK, Calif. — Former chairman, president and CEO of Procter & Gamble A.G. Lafley has joined Legendary Entertainment’s board of directors.

Lafley joins a board comprising Legendary’s chairman and CEO Thomas Tull, as well as Jim Breyer, Larry Clark, Dick Cook and Joe Roth.

Legendary Entertainment is a media company with film (Legendary Pictures), television (Legendary Television) and comics (Legendary Comics) divisions.

When Lafley was at the helm at P&G, sales doubled, profits quadrupled, and the company’s market value increased by more than $100 billion dollars. He graduated from Hamilton College in 1969, joined the U.S. Navy in 1970, earned an MBA from Harvard Business School in 1977, and then joined P&G.

Lafley currently serves as special partner at Clayton, Dubilier & Rice and as director of the General Electric Co. Lafley is also the co-author of "The Game Changer," a book on innovation, and author of Harvard Business Review articles, "What Only the CEO Can Do" and "The Art and Science of Finding the Right CEO."

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FDA approves new formulation of Watson’s Androderm

BY Alaric DeArment

PARSIPPANY, N.J. — The Food and Drug Administration has approved a new formulation of a testosterone therapy made by Watson Pharmaceuticals, the drug maker said Friday.

Watson announced the approval of its Androderm (testosterone) transdermal system in the 2-mg and 4-mg formulation. The company said the new smaller size and lower-dose patch would provide "highly effective" testosterone administration with a 20% reduction in the active ingredient from the original strength. Watson plans to launch the new patch next month.

The drug is a testosterone replacement therapy used to treat deficiency or absence of the hormone produced by the body, a condition that affects some 13.8 million men and results from such causes as genetic abnormalities, side effects of some medications, diabetes and injury to the testes.

"The approval of the new low-dose testosterone patch offers millions of men a reliable and convenient transdermal option for what continues to be an under-diagnosed and under-treated condition," New York University School of Medicine and University Urology Associates urologist Jed Kaminetsky said on behalf of Watson. "The new Androderm formulation effectively treats symptoms of male hypogonadism, which include decreased sexual desire, fatigue and mood depression."


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Pharmacy Society of Wisconsin expresses concern over WAG/ESI dispute

BY Michael Johnsen

MANITOWOC, Wis. — A state pharmacy association here weighed in on the Walgreens and Express Scripts dispute in an editorial published online late Thursday by the Herald Times Reporter.

"We do not want to see any reputable pharmacy excluded from providing care to patients, let alone a system as large as Walgreens," wrote Thomas Engels, VP public affairs of the Pharmacy Society of Wisconsin. "However, Walgreens’ struggle with [ESI] is by no means unique. In fact, it is emblematic of the pressure being placed on pharmacies across Wisconsin," he noted. "If a large company like Walgreens can’t make the terms of Express Scripts contract work, just think how those same terms impact small pharmacies in rural parts of Wisconsin."

For the full editorial, click here.


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