Pfizer to acquire Encysive, will gain rights to Thelin
NEW YORK Pfizer has announced that it intends on buying Encysive Pharmaceuticals for about $195 million, according to the Associated Press.
As part of the deal, Pfizer would gain the rights to Encysive’s drug Thelin, which is approved in some European countries for the treatment of high blood pressure in the pulmonary artery. The drug is still awaiting approval in the U.S. Pfizer would also gain access to the rest of Encysive’s portfolio of drugs.
Pfizer already markets Revatio for high blood pressure in the pulmonary artery and Thelin would only strengthen the market for the company. Pfizer plans on conducting a late-stage trial of Thelin in the U.S. in hopes of obtaining final approval from the Food and Drug Administration.
Analysts project the drug could make about $100 million annually by 2012.
Costco program delivers deep discounts to uninsured
ISSAQUAH, Wash. Costco is enrolling up to 5,000 new members per week to its Costco Member Prescription Program that gives uninsured members deep discounts on hundreds of different prescription drugs.
The program launched at pharmacies last July and is now available in every state in the U.S. where Costco does business. “It’s kind of a unique program for our members who don’t have insurance,” said Costco VP of pharmacy Vic Curtis. “We work with our manufacturers and are able to offer members a discount through savings passed on either from the manufacturer or, in Costco’s case, from within our own margins.”
To qualify for the program, people need to be current Costco members and fill out a registration form confirming they don’t insurance. To deliver the extra savings, Costco works with manufacturers to create a Preferred Drug List of branded and generic drugs that can be provided with a discount.
When filling a prescription for a program member, pharmacists check the list to see if the prescription is on it or search for a similar drug that serves the same need for less expense. “Our pharmacists have members check with their physicians to make sure a drug on the preferred list will work for them,” said Curtis.
Typical monthly savings on a 30-day supply of drugs is $15 but the savings vary. Curtis said the best example is a 30-day supply of Prevacid, which is available to program members for $101.17 at a cost savings of $49.58. On the lower end, members can save $7 on a one-month supply of Lunesta.
Curtis said Costco currently has 61,000 members in the program and hopes to enroll many more in the coming months. “Our goal is to eventually have 250,000 to 300,000 members enrolled in the program,” said Curtis.
NextGen, Warburg look to partner on cancer drugs
LONDON NextGen Bioscience and Warburg Glycomed are negotiating a deal to collaborate. Both are biotech companies focused on developing new drugs to fight various types of cancer.
Warburg Glycomed has a compound that is able to reprogram cancer cells by modulating their aerobic glucose metabolism, which affects their ability to grow. Warburg Glycomed has expressed keen interest in collaborating with NextGen in a recently signed letter of intent, and is confident that a deal can be arranged.
“These collaboration discussions with Warburg Glycomed represent progress on fulfilling our business goal to form international collaboration agreements with specialty research organizations,: Konstantinos Kardiasmenos, chief executive officer of NextGen, stated. “An alliance with Warburg Glycomed would strengthen both companies’ position to capture the phenomenal global market for therapeutic cancer agents, which is now reaching a volume of approximately $30 billion.”