Mylan acquires Bioniche Pharma
PITTSBURGH Generic drug maker Mylan is hoping to gain entry into the injectable drug market with the acquisition of a European drug maker.
Mylan announced Wednesday the acquisition of Bioniche Pharma Holdings for $550 million. The Galway, Ireland-based company makes several drugs for pain, cancer, urology and other uses, mostly for the hospital setting, with more than 30 drugs on the market.
Mylan hopes the acquisition will give an immediate presence in the North American injectables market and serve as a platform for future growth, including biosimilars.
“We are extremely pleased to be adding this complementary, high-growth, high-margin business to our one-of-a-kind global pharmaceutical platform,” Mylan chairman and CEO Robert Coury said. “Bioniche Pharma has maintained a long-held strategy of focusing on quality injectable products with limited competition and difficult-to-develop and manufacture compositions.”
Pfizer, Samsung Medical Center form liver cancer research partnership
NEW YORK Treatments for liver cancer could emerge from a new research partnership between the world’s largest drug maker and a medical center in Korea.
Pfizer and the Samsung Medical Center in Seoul announced Wednesday a collaboration to analyze tumors from Korean patients and generate genetic profiles that they said could direct therapies and improve the outcomes of liver cancer patients.
“We are pleased to have an opportunity to work with the world’s No. 1 pharmaceutical company, Pfizer, to better understand cancer in Korean patients, with the goal of being able to send a new message of hope for patients with liver cancer across the world, especially in Asia,” Samsung Medical Center president Choi Han-Yong said.
Census Bureau reports retail sales for June
WASHINGTON The Census Bureau announced that advance estimates of retail and food services sales for June dropped 0.5% to $360.2 billion, compared with the previous month. However, sales rose 4.8% when compared with the year-ago period.
The Census Bureau also disclosed that total sales for the April through June 2010 period were up 6.8% from the same period a year ago, perhaps showing that an economic turnaround indeed is underway.
In related news, advance estimates were not available for drug store sales, although the Census Bureau noted that the market share for this business sector has remained relatively the same from month to month. Health and personal care stores saw a near 0.5% gain, increasing from $21.6 to $21.7 million. Grocery stores, however, dropped from $43.6 million to nearly $43.4 million.
“Today’s data shows consumers continue to take a cautious approach towards shopping,” said NRF president and CEO Matt Shay. “However, growth in key areas such as electronics, apparel and department stores is an encouraging sign as we enter the back-to-school shopping season.”