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Reports: Coty’s IPO is set to launch

BY Antoinette Alexander

NEW YORK — Coty Inc.’s long-awaited initial public offering is reportedly set to launch with shares to trade on Thursday, according to published reports.

The $1 billion-plus IPO is expected to be a hit, bankers reportedly said. The beauty company will not get any money from the IPO. Majority owner Joh. A. Benckiser will be selling a stake worth $806 million at the upper end of the expected price range, according to reports. Private-equity firms Berkshire Partners and Rhone Capital are selling equal stakes worth $126 million at the upper range.

The Wall Street Journal reported that the deal could raise up to $1.22 billion, including the possible sale of extra shares to underwriters. That would make it the largest U.S.-listed IPO ever for a consumer-products company, according to the WSJ, which cited Dealogic.

Last year, Coty filed to raise as much as $700 million in an IPO. That filing with the Securities and Exchange Commission came about a month after the beauty company dropped its bid for Avon because of Avon’s “delay and unwillingness to engage in discussions.” However, the company ended up postponing the IPO to give its new CEO Michele Scannavini time to acclimate to the post, according to reports.
 

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QS/1 receives controlled substances e-prescribing certification

BY Alaric DeArment

SPARTANBURG, S.C. — Pharmacy automation provider QS/1 has received certification for controlled substances prescribed electronically, the company said.

QS/1 said it received Electronic Prescriptions for Control Substances certification, making it one of the first pharmacy vendors to certify for EPCS in the 10.6 Script Standard.

"Electronic prescriptions are trending upward," QS/1 marketing and analyst senior manager Michael Ziegler said. "Statistics indicate customers are more likely to have their prescriptions filled and picked up if they are sent electronically."

Implementing EPCS requires software certification from Surescripts and the Drug Enforcement Administration; ComplySmart conducted QS/1’s DEA audit. Pharmacists who receive certification will be able to send prescriptions for controlled substances to pharmacies that use QS/1 software, and the company plans to release EPCS in Service Pack 19.1.12.

"QS/1 also added the ability to accept digital signatures within the QS/1 application," Ziegler said. "This will allow for a more streamlined process when digital signatures are required."


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Teva, Sun to pay $2.15 billion to Pfizer, Takeda to settle Protonix case

BY Alaric DeArment

NEW YORK — Pfizer will receive more than $2 billion from Teva Pharmaceutical Industries and Sun Pharmaceutical Industries to settle a case concerning a gastroesophageal reflux disease drug.

The drug maker said Wednesday that Sun and Teva had agreed to pay $2.15 billion in a patent-infringement suit over the drug Protonix (pantoprazole). The money will compensate Pfizer and Takeda for damages they incurred when Teva and Sun launched "at-risk" generic versions of Protonix in 2007 before the 2011 expiration of a patent covering the drug. Teva will pay $1.6 billion, and Sun will pay $550 million; Pfizer will receive 64% of proceeds.

A federal jury in New Jersey determined that the launches violated U.S. Patent No. 4,758,576, owned by Takeda and licensed to Wyeth, which Pfizer acquired in 2009.


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