Mylan sales down due to currency exchange rates
PITTSBURGH — Mylan experienced a slight dip in sales in its third quarter, due primarily to fluctuating currency values, the generic drug maker said Thursday.
The Pittsburgh-based company said sales were essentially flat when excluding the effects of currency values, which resulted in $1.77 billion in sales, compared with $1.8 billion in third quarter 2012. For the first nine months of the year, sales were $5.1 billion, compared with $5.07 billion during the first nine months of 2012. Profits for the quarter were $159.4 million, compared with $212.09 million last year. Under a plan authorized by Mylan’s board, the company plans to repurchase up to $500 million worth of stock.
"Mylan’s third quarter performance continued to demonstrate the momentum and stability of our core business and our ability to leverage the strength and diversity of our global platform," Mylan CEO Heather Bresch said. "Coming off an exceptional year in 2012 for both Mylan and our industry, we delivered double-digit constant currency growth in our Asia Pacific and [Mylan Specialty] businesses and saw continued strength in Europe."
Study finds opportunities for mobile health apps to engage patients
PARSIPPANY, N.J. — The "vast majority" of available mobile apps focused on health and wellness have limited functionality or evidence of value in advancing healthcare provision and outcomes, according to a new report by IMS Health.
The report, "Patient Apps for Improved Healthcare: From Novelty to Mainstream," by the IMS Institute for Healthcare Informatics, found that most efforts in app development have been focused on such aspects of overall wellness as diet and exercise, but don’t address the needs of patients with multiple chronic conditions and who are older than 65 years.
IMS researchers surveyed the more than 43,000 health-related apps in the Apple App Store, but found that only 16,275 were directly related to patient health and treatment.
"The movement toward digital therapeutics is clear," IMS Institute executive director Murray Aitken said. "Mobile health apps have the potential to drive a disruptive shift in patient engagement and healthcare delivery. Harnessing the power of apps has become a focal point of innovation, yet barriers remain to their broad and systematic use by providers and patients."
The study found that more than 90% of the apps reviewed scored less than 40 out of 100 possible points for functionality, based on 25 screening factors. Use of the apps is also limited: More than half of the apps have been downloaded fewer than 500 times, and five apps account for 15% of all downloads in the healthcare category.
Impax Labs, Tolmar receive FDA approval for generic version of Solaraze
HAYWARD, Calif., and FORT COLLINS, Colo. — Impax Labs and Tolmar announced that the Food and Drug Administration has given final approval to Tolmar’s generic version of Solaraze (diclofenac sodium) gel in the 3% strength.
Impax Labs entered into a Development, Supply and Distribution agreement with Tolmar on June 12 in which Tolmar granted Impax Labs an exclusive license to commercialize generic Solaraze in the United States. Under the terms of that agreement, Tolmar is responsible for product development and manufacturing, and Impax Labs is repsonsible for marketing and sales of the product.
Sales of Solaraze gel 3% in the United States were $78 million for the 12 months ended Sept. 2013.