Gilead Sciences to acquire CV Therapeutics
FOSTER CITY, Calif. Gilead Sciences announced Thursday that it will acquire CV Therapeutics for $20 per share in cash through a tender offer and second-step merger.
CV Therapeutics will become a wholly owned subsidiary of Gilead. The transaction is valued at approximately $1.4 billion.
CV Therapeutics’ board of directors unanimously approved the transaction.
CV Therapeutics focuses on the development of small molecule drugs for the treatment of cardiovascular diseases. In 2008, its two marketed products, Ranexa (ranolazine extended-release tablets), indicated for the treatment of chronic angina, and Lexiscan regadenoson) injection for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging in patients unable to undergo adequate exercise stress, contributed to total revenues of $154.5 million. CV Therapeutics’ pipeline includes multiple product candidates currently being evaluated for the treatment of atrial fibrillation, pulmonary diseases and diabetes.
“The acquisition of CV Therapeutics represents a unique opportunity to complement and strengthen our growing cardiovascular portfolio,” said John C. Martin, PhD, chairman, CEO, Gilead Sciences. “CV Therapeutics’ experienced management team has built a portfolio of marketed and investigational products that address significant unmet medical needs, and that represent a strategic fit with Gilead’s capabilities and focus. We look forward to working together with the CV Therapeutics team to bring Ranexa to more patients and deliver on the potential of the company’s promising pipeline programs.”
The Partnership for a Drug-Free America praises Obama’s ONDCP director selection
NEW YORK The Partnership for a Drug-Free America is applauding President Obama and Vice President Biden’s selection of Seattle police Chief Gil Kerlikowske as the head of the Office of National Drug Control Policy.
As the prospective director of the Office of National Drug Control Policy, Kerlikowske would oversee drug problems in the United States.
ONDCP plays a critical role in establishing federal drug policy and ensuring that government agencies work together toward common goals. The Partnership works closely with ONDCP on the National Youth Anti-Drug Media Campaign and other important public education efforts, including the recent launch of the first national campaign to curb meth use in Native communities.
“The fields of substance abuse prevention, treatment and law enforcement are fortunate to have the author of the legislation to create ONDCP, Vice President Joseph R. Biden, Jr., in the White House,” said Steve Pasierb, president PFDFA. “Like the Partnership, he understands the devastating impact of addiction on families across the country and knows that there is much work ahead to reduce the enormous costs of untreated addiction.”
The Little Clinic to provide free health screenings and assessments for patients through 2009
BRENTWOOD, Tenn. The Little Clinic has announced a free health screenings and assessments program for the remainder of 2009 that will focus on such core health issues as nutrition, preventative medicine and wellness.
“The Little Clinic understands today’s economy is impacting families in a number of ways, including how consumers prioritize their healthcare expenditures and services,” stated Lisa Loscalzo, EVP business development. “Our program is aimed at providing those important screenings and healthcare assessments that need to be performed throughout the year in order to monitor overall health. Because this program is free, The Little Clinic is helping to make sure good health can remain a focus for everyone.”
Each month of the year will focus on specific health observances, such as National Nutrition Month in March, and is aimed at raising awareness among consumers of good health practices like nutrition, preventive medicine and wellness.
As March is National Nutrition Month, screenings include blood pressure, cholesterol and, for children, a child growth percentile/body mass index evaluation. In addition, The Little Clinic will supply handouts offering tips for healthy snacking, food portioning, reading labels, understanding a child’s growth percentile and managing blood pressure and cholesterol.
The Little Clinic currently has locations inside select Publix supermarkets in Georgia and Florida; Kroger stores in Indiana, Kentucky, Tennessee, Ohio and Michigan; King Soopers in Colorado; and Fry’s Food Stores in Arizona.