PHARMACY

Omnicare acquires ACS specialty pharmacy and support services

BY Drew Buono

COVINGTON, Ky. Omnicare has announced that it has acquired the specialty pharmaceutical services provider Advanced Care Scripts. Advanced Care Scripts provides both specialty pharmacy and product support services for the pharmaceutical and biotechnology industries.

Its specialty pharmacy operations dispense high-cost oral and injectable medications directly to patients and provide a range of related clinical and administrative services. Its product support services division provides pharmaceutical and biotechnology companies with a range of services, including reimbursement support, compliance monitoring, patient assistance programs and data management.

“The acquisition of Advanced Care Scripts is squarely in line with our strategy of broadening Omnicare’s platform through the addition of high-growth businesses as it enhances Omnicare’s position in specialty pharmaceutical services—one of the fastest growing sectors in pharmaceutical care,” said Joel Gemunder, president and chief executive officer of Omnicare.

Based on the quarter ended March 31, 2008, Advanced Care Scripts’ revenues are running at an annualized rate of approximately $212 million.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

PHARMACY

Winn-Dixie announces executive appointments

BY Drew Buono

JACKSONVILLE, Fla. Winn-Dixie has announced the hiring of John Fegan, Dan Tobin and Peter Thomas to its pharmacy, development and real estate departments, respectively, in a effort to assist in the company’s turnaround.

Fegan has filled the position of vice president of pharmacy. In this position, he will work at overseeing the day-to-day and strategic operations of the company’s 400 plus pharmacy locations. Fegan mastered his skills in various key positions at Ahold USA which runs pharmacy locations under the banners: American Drug Stores, Pay’n Save Drug Stores, Gray Drug and Osco Drug.

Tobin joined Winn-Dixie as vice president of development. Tobin’s responsibilities include new store design and remodel initiatives. Prior to joining Winn-Dixie, Tobin held key positions at Albertsons and later at Brinker International, where he oversaw construction activities for casual-dining chains such as Chili’s, Romano’s Macaroni Grill, On The Border Grill & Cantina, and Maggiano’s Little Italy.

Thomas has assumed the title of vice president of real estate, is responsible for the development of the company’s new store capital and remodel initiatives. In this position he will work to increase market share within Winn-Dixie’s footprint. Thomas’ career includes time at well-known companies such as Big Y Foods, Purity Supreme Supermarkets, A&P, and McCarty-Holman Jitney Jungle.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

PHARMACY

GSK, Actelion sign development deal for insomnia drug

BY Drew Buono

PHILADELPHIA and LONDON GlaxoSmithKline and the biotech company Actelion have signed a deal to develop an insomnia remedy drug, according to the Wall Street Journal.

GSK will pay Actelion $147.6 million upfront and then as much as $3 billion if the drug, almorexant gets approved for three market uses and hits “exceptional” sales targets. GSK and Actelion will split the profit from the drug’s sales in such markets as the U.S. and Europe, the companies said.

Almorexant is a new kind of drug, one that temporarily reduces levels of the brain chemical orexin, which is thought to help keep people awake. Sleep experts say the drug needs further study but could offer some benefits over Sanofi-Aventis’ blockbuster sleeping pill, Ambien, including fewer side effects.

If all goes well for GSK, almorexant could make it to the U.S. market by 2011 and could lead to sales of over $1 billion for GSK.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES