PHARMACY

Jonathan Roberts named COO of CVS Caremark’s PBM business

BY Antoinette Alexander

WOONSOCKET, R.I. CVS Caremark has appointed Jonathan Roberts as COO of its pharmacy benefit management business. He currently is EVP Rx purchasing, pricing and network relations, and also now will assume the leadership of PBM operations, mail-service pharmacy and specialty pharmacy.

“Jon is the ideal candidate to fill this newly created role within the PBM,” stated Per Lofberg, president of pharmacy benefit management at CVS Caremark. “His broad base of pharmacy experience will further our mission to continually improve how we do business and look for ways to do it better, more efficiently and at a lower cost.”

Roberts joined CVS/pharmacy nearly 20 years ago and has served in a variety of leadership roles across the enterprise, including SVP store operations at CVS/pharmacy and CIO of CVS Caremark.

“Jon has spearheaded numerous initiatives over the years that have enhanced our delivery of pharmacy care,” added Tom Ryan, chairman and CEO of CVS Caremark. “I am confident that in this newly expanded role Jon will support our PBM growth strategy and overall longer-term success.”

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Crucell recommends J&J bid to shareholders

BY Allison Cerra

NEW YORK A few weeks after Johnson & Johnson announced it would purchase the remainder of Dutch biotech firm Crucell it doesn’t already own for about $2.4 billion, J&J received backing for the bid.

Crucell recommended the offer to the shareholders but not without receiving some criticism from shareholders Delta Lloyd Asset Management, Robeco and the Van Herk Group, which said the offer from J&J "undervalued" Crucell’s worth. The fund managers jointly control at least 15.5% of Crucell, according to Reuters.

 

"We would not tender our shares at this price. J&J gets a lot of value from this deal, given its client base and the sales potential involved. We consider this the starting point, Crucell’s management would need to convince us in the coming days [on the price]," Jack Jonk, head of equity at Delta Lloyd Asset Management, said.

 

 

 

J&J said it would benefit from Crucell’s expertise in vaccines and gain a “strong platform” in the vaccine market. The drug maker said it plans to keep Crucell as the center for vaccines in the conglomerate and maintain its headquarters in Leiden, Netherlands.

 

 

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Pfizer completes FoldRx acquisition

BY Allison Cerra

NEW YORK Pfizer on Wednesday announced the completion of its acquisition of a privately held drug discovery and clinical development company.

FoldRx now is a wholly owned subsidiary of Pfizer, Pfizer said. FoldRx’s portfolio includes clinical and preclinical programs for investigational compounds to treat diseases caused by protein misfolding, which increasingly is recognized as an underlying cause in many chronic degenerative diseases.

The acquisition was announced Sept. 1.

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