Hi-Tech Pharmacal reports Q2
AMITYVILLE, N.Y. — Net sales for Hi-Tech Pharmacal rose 27% for its second quarter ended Oct. 31, the drug maker said.
Net sales for the three months were nearly $56.9 million, compared with about $44.7 million in the year-ago period. For its generic drug sales, Hi-Tech reported an increase of 33%, compared with second quarter 2012, which primarily was due to stronger sales of fluticasone propionate nasal spray. The company noted it also benefited from sales of gabapentin oral solution, ranitidine oral solution and lidocaine sterile jelly, all of which were launched this year, along with the company’s clobetasol line of topical products and buprenorphine.
Meanwhile, the company said its branded division, ECR Pharmaceuticals, contributed $3.5 million to sales in the current period, a decrease of $1.2 million, or 26%, compared with the year-ago period, mainly due to the discontinuation of the extended release versions in the Lodrane line of antihistamines. Increased sales of recently acquired products, including Tussicaps, partially offset the decrease in sales for the quarter, Hi-Tech Pharmacal said.
Walgreens pharmacy comps up 1.2%; Express Scripts, slow flu season are headwinds
DEERFIELD, Ill. — Walgreens on Monday reported November sales of $6.1 billion, an increase of 4.2%, compared with the same month in fiscal year 2011. Sales in comparable stores increased 1.8%.
Total front-end sales increased 4%, with comparable store front-end sales up 2.7%. Customer traffic in comparable stores decreased 30 basis points and basket size was up 3%.
November pharmacy sales increased 3.4%, while comparable pharmacy sales increased 1.2%. Prescriptions filled at comparable stores increased 60 basis points in November. Calendar day shifts in November, which had one additional Wednesday and one fewer Monday compared with November 2010, negatively impacted prescriptions filled in comparable stores by 40 basis points. Lower incidence of flu negatively impacted comparable prescriptions filled by 80 basis points.
The estimated negative impact on comparable prescriptions filled from prescription transfers and other trend analysis of prescriptions managed by Express Scripts was approximately 110 basis points. Despite this impact, total prescriptions filled grew by 150 basis points through the month, Walgreens reported.
Comparable pharmacy sales also were negatively impacted by 220 basis points due to generic drug introductions in the last 12 months and by 130 basis points due to lower incidence of cough, cold and flu. Pharmacy sales accounted for 64.7% of total sales for the month.
Flu shots administered at pharmacies and clinics season-to-date were 5 million, versus 5.4 million last year.
ReportersNotebook — Chain Pharmacy, 12/12/11
SUPPLIER NEWS — Following the settlement of a patent-litigation suit with Swiss drug maker Novartis over the patch Vivelle-Dot (estradiol transdermal system), a drug for treating symptoms of menopause, Mylan said it had received a patent license to begin selling its version of the drug in December 2013.
The Pittsburgh-based generic drug maker was the first to file for regulatory approval of the drug with the Food and Drug Administration, and as such will be entitled to 180 days of market exclusivity.
Vivelle-Dot had sales of $240 million during the 12-month period ended in September, according to IMS Health. The patch is designed to be applied twice a week, and Mylan plans to sell it in the 0.025 mg, 0.0375 mg, 0.05 mg, 0.075 mg and 0.1 mg strengths.
Par Pharmaceutical has completed its acquisition of Anchen Pharmaceuticals, the generic drug maker said. Par announced plans in August to acquire Irvine, Calif.-based Anchen for $410 million, consisting of a loan and cash it already had. A privately owned company, Anchen has about 200 employees and more than 72,000 sq. ft. of manufacturing and warehouse space, Par said.
Drug maker Gilead Sciences will acquire Pharmasset for $11 billion, or $137 per share, Gilead said. Pharmasset, based in Princeton, N.J., is a drug maker that currently has three treatments for hepatitis C undergoing clinical trials, including PSI-7977, which is in late-stage development.
After being unanimously recommended for approval by a FDA panel, the FDA has approved an eye disorder treatment created by Regeneron Pharmaceuticals. Eylea (aflibercept) is used to treat patients with wet age-related macular degeneration, a leading cause of vision loss and blindness.
The wet form of AMD includes the growth of abnormal blood vessels, which can leak fluid into the central part of the retina, also known as the macula. When fluid leaks into the macula, the macula thickens and vision loss occurs. The drug was recommended for approval back in June by the Dermatologic and Ophthalmic Drugs Advisory Committee.