Reports: GSK calls $2.6 billion offer for Human Genome Sciences ‘full and fair’
NEW YORK — GlaxoSmithKline said its offer to buy Human Genome Sciences was "full and fair" Wednesday after HGS turned it down last week, according to published reports.
Reuters reported that GSK’s $13-per-share, $2.6 billion offer for HGS would give the former full control of Benlysta (belimumab), the first new drug approved by the Food and Drug Administration for lupus in more than half a century. The two companies developed the drug together under a partnership, and the drug received approval in March 2011.
On Friday, HGS confirmed that GSK had offered to buy it, but concluded that the offer "does not reflect the value inherent in HGS."
The companies’ partnership also includes darapladib, a cardiovascular disease drug currently in phase-3 development; and albiglutide, also in phase-3 development, for Type 2 diabetes.
RxMedic opens new headquarters
RALEIGH, N.C. — A company that manufactures pharmacy dispensing machines has moved into a new headquarters.
RxMedic Systems announced Wednesday the opening of the new headquarters in Wake Forest, N.C., a suburb of Raleigh. The company said expansion of product lines created the need to move into a new location. "With our recent growth, we had just outgrown our previous location," VP David Williams said. "Now, we have much more space for both product development and manufacturing."
Giancamilli, Brown honored at NACDS Annual
PALM BEACH, Fla. — On the final evening of the National Association of Chain Drug Stores’ annual meeting in Palm Beach, Fla., the organization honored two industry leaders with chain pharmacy’s highest honors.
NACDS recognized Andrew Giancamilli, former Rexall Pharma Plus CEO and past NACDS chairman, with the Sheldon W. Fantle Lifetime Achievement Award. M. Jerome Brown, former Unilever VP industry and customer development, received the Robert B. Begley Award.
Giancamilli’s career in health care includes more than 35 years at Perry Drug Stores (after graduating pharmacy school), as well as executive capacities at Kmart and Canadian Tire, prior to his tenure at Katz Group, where he served as CEO of Synders Drug Stores and Rexall Pharma Plus.
Meanwhile, Brown, who started at Johnson & Johnson in 1972, joined Unilever (previously called Chesebrough-Pond’s) in 1980. He most recently served as VP and leader of Unilever’s industry and customer development team for Unilever home and personal care until his retirement in this year.
The Sheldon W. Fantle Lifetime Achievement Award was established in 1989 to recognize exceptional accomplishments and contributions to the industry. It was renamed in 1996, in honor of Bud Fantle, People’s Drug Stores. Meanwhile, the Begley Award, which was established in 1980, is named in memory of former NACDS board chairman Robert B. Begley. It honors an individual who possess qualities of great personal warmth, generous spirit and long-time service to the chain pharmacy industry.
"Andy Giancamilli and Jerry Brown are two of the industry’s finest leaders, each playing an important role in the evolution of retail pharmacy over the last four decades," NACDS president and CEO Steve Anderson said. "They each leave behind a legacy of commitment and passion to their companies and the industry, and we are honored to commemorate them with chain pharmacy’s highest honors."