NACDS applauds passage of Counterfeit Drug Penalty Enhancement Act
ALEXANDRIA, Va. — The National Association of Chain Drug Stores on Friday applauded the Senate for passage of the Counterfeit Drug Penalty Enhancement Act (S. 1886), which NACDS said would protect the health and safety of consumers by increasing penalties on criminals that engage in the harmful practice of trafficking in counterfeit medications.
The bill is sponsored by Sens. Patrick Leahy, D-Vt., Charles Grassley, R-Iowa, and Michael Bennet, D-Colo.
“We applaud the Senate for their passage of this important legislation, and thank Sens. Leahy, Grassley and Bennet for their leadership in advocating stricter sentences for criminals who put consumers in harm’s way by trafficking counterfeit medications,” NACDS president and CEO Steve Anderson said. “We urge the House to move swiftly in passing this legislation that puts consumer health safety ahead of criminal activities.”
Endorsed by NACDS, S. 1886 would impose harsher penalties on criminals who produce, buy, sell or purchase counterfeit medications. Under current federal law, there is no distinction between counterfeit medications and other counterfeit products. NACDS also has supported efforts to protect consumers from counterfeit and diverted drugs.
NACDS supports legislation introduced by Sen. Charles E. Schumer, D-N.Y., called the SAFE Doses Act (S.1002). This legislation would provide law enforcement with critical tools to break up sophisticated crime rings that harm consumers by attempting to illegally resell stolen medical products.
BioScrip’s sales, profits increase in Q4, FY2011
ELMSFORD, N.Y. — Specialty pharmacy provider BioScrip had sales of $483.3 million in fourth quarter 2011 and $1.8 billion in fiscal year 2011, the company said Friday.
The company’s fourth-quarter sales marked an increase of $32.9 million, while the sales for the year were $200 million over fiscal year 2010. Meanwhile, the company had profits of $6.7 million for the quarter and $7.9 million for the year.
"We are pleased with our fourth quarter results, driven by solid organic growth and significant momentum in our key businesses," BioScrip president and CEO Rick Smith said. "Infusion revenue was strong on both a sequential and year-over-year basis, driven by the depth of our managed care contracts, growing patient census and the focused and productive efforts of our sales team and regional management who continue to focus on our targeted therapies."
Smith also highlighted the pending sale of BioScrip’s community specialty pharmacies to Walgreens, announced last month.
"With the pending sale of our community specialty pharmacies and centralized specialty and mail service pharmacy businesses, we are positioning BioScrip as a leaner company focused on those areas where we have key strengths, in-market awareness and offer distinct competitive advantages," Smith said. "This includes leveraging our geographic reach, building upon our reputation for clinical excellence, deepening our relationships with national and local managed care customers and strategically expanding our national infusion service footprint both organically and through tuck-in acquisitions."
FDA committee to discuss anti-NGF drug class at meeting
WASHINGTON — A Food and Drug Administration panel will meet Monday to discuss a class of drugs designed to treat chronic painful conditions that currently are under development and the safety issues possibly related to the drugs.
The FDA Arthritis Advisory Committee will discuss the anti-nerve growth drug class that is being developed for the treatment of such conditions as osteoarthritis, chronic lower back pain, diabetic peripheral neuropathy, post-herpetic neuralgia, chronic pancreatitis, endometriosis, interstitial cystitis, vertebral fracture, thermal injury and cancer pain. The committee will be asked to determine whether reports of joint destruction represent a safety signal related to the anti-NGF class of drugs, and whether the risk benefit balance for these drugs favors continued development of the drugs as analgesics.
Drug makers participating in the meeting include Janssen, Pfizer and Regeneron.