Report: Hartig Drug to buy Clingman Pharmacy
GALENA, Ill. Regional retail pharmacy chain Hartig Drug will buy out a pharmacy that has served its community for nearly two centuries, according to published reports.
The Dubuque, Iowa, Telegraph Herald reported that Dubuque-based Hartig would buy the 178-year-old Clingman Pharmacy. Clingman is expected to close Aug. 28, a casualty, the newspaper reported, of pressure on independent pharmacies due to the economy.
In its current form, Clingman Pharmacy was opened in 1958, though various owners have operated it since 1832, according to the Telegraph Herald.
Sanofi, Scripps Genomic Medicine form partnership
BRIDGEWATER, N.J. French drug maker Sanofi-Aventis and a division of San Diego-based nonprofit community health system Scripps Health will work together in the field of personalized medicine.
The two companies announced Tuesday the partnership between Sanofi and Scripps Genomic Medicine, under which Sanofi-Aventis Research & Development will fund up to three grants per year for research proposals from Scripps investigators.
“Our alliance with Sanofi-Aventis exemplifies the ideal collaboration between the pharmaceutical industry and nonprofit research community,” Scripps Health chief academic officer Eric Topol said. “The partnership aims to foster an environment of open scientific exchange in genomic medicine that we hope will translate to new discoveries to benefit patients while establishing a collaborative approach to drug development.”
Revenue, profit rise for Watson in Q2
MORRISTOWN, N.J. Generic drug maker Watson Pharmaceuticals posted strong sales for second quarter 2010, according to an earnings report.
Revenue for the quarter were $875.3 million, a 29% increase over second quarter 2009. Profit was $102.8 million, a 22% increase over last year.
“The second quarter was one of solid financial growth, consistent performance and continued progress against the strategies that will ensure growth of Watson’s global business,” Watson president and CEO Paul Bisaro said. “We continue to emphasize growing our businesses through product development and portfolio and market expansion.”
Generic drugs had global sales of $560.8 million, compared with $393.8 million in second quarter 2009. For the first six months of the year, generics sales were $1.09 billion, compared with $789 million during the same period last year.
Sales for Watson’s branded drugs segment were $76.9 million, compared with $97.6 million in second quarter 2009. The decrease was due mostly to Watson handing over marketing rights for the iron deficiency drug Ferrlecit (sodium ferric gluconate) to French drug maker Sanofi-Aventis in December.