Mylan launches generic Percodan
PITTSBURGH — A generic drug maker has launched its version of a pain medication made by Endo Pharmaceuticals.
Mylan and its subsidiary Mylan Pharmaceuticals launched oxycodone and aspirin tablets USP in the 4.8355-mg/325-mg strength, based on an agreement with licensing partner Coastal Pharmaceuticals. The drug, designed to treat moderate to severe pain, is a generic version of Percodan.
Oxycodone and aspirin tablets had U.S. sales of approximately $6.5 million for the 12 months ended Dec. 31, 2010, according to IMS Health.
Currently, Mylan has 169 ANDAs pending approval from the Food and Drug Administration, the company said.
Cardinal Health’s quarterly dividend increases 10%
DUBLIN, Ohio — Healthcare services company Cardinal Health announced that its board of directors has approved an increase in the company’s quarterly dividend to 21.5 cents per share, or 86 cents per share on an annualized basis.
The declared dividend marks a 10% increase above what the company has paid out since July 2010, and also marks the 107th consecutive regular quarterly dividend for Cardinal Health.
The regular quarterly dividend is payable on July 15 to shareholders of record on July 1.
McKesson reports Q4, fiscal-year results
SAN FRANCISCO — Sales at McKesson were $28.9 billion during fourth quarter 2011 and $112.1 billion for fiscal year 2011, according to financial results announced Tuesday.
Sales for the quarter represented an 8% increase over $26.6 billion in fourth quarter 2010, while sales for the year increased by 3% over 2010’s $108.7 billion.
Profits for the quarter were $422 million, a 21% increase over fourth quarter 2010, while profits for the year were $1.2 billion, a 5% decrease from fiscal year 2010’s $1.26 billion.
“Our fourth-quarter results wrapped up another solid full-year financial performance, driven by strong execution in Distribution Solutions,” McKesson chairman and CEO John Hammergren said. “I’m pleased that we exceeded our initial expectation for both earnings and cash flow.”
Revenues from Distribution Solutions increased by 8% for the quarter and 3% for the year, while U.S. pharmaceutical distribution revenues increased by 9% during the quarter due to market growth and the October 2010 purchase of U.S. Oncology.