PHARMACY

Senate hearing looks at delivery system reform

BY Alaric DeArment

ARLINGTON, Va. — Medicare and Medicaid are working with the private sector to create a roadmap for the future of healthcare delivery, and a congressional hearing was convened Thursday to ensure it does that.

The Senate Finance Committee hearing, titled "Delivery System Reform: Progress Report from CMS," included Sens. Max Baucus, D-Mont., and Orrin Hatch, R-Utah.

The hearing drew a statement from retail-pharmacy industry group the National Association of Chain Drug Stores, which highlighted the patient services provided in retail pharmacies, such as immunizations, medication therapy management and other forms of medication counseling and disease screenings. In 2010-2011, 18.4% of adults nationwide received their influenza vaccines in community pharmacies, the group noted.

"Through personal interactions with patients, face-to-face consultations and convenient access to preventive care services, local pharmacists are helping to shape the healthcare delivery system of tomorrow — in partnership with doctors, nurses and others," the NACDS’ statement read.

 

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PHARMACY

Mylan posts double-digit growth in 2012

BY Alaric DeArment

PITTSBURGH — Mylan had sales of $1.72 billion in fourth-quarter 2012 and $6.8 billion for fiscal year 2012, the generic drug maker said.

Those figures compared with $1.53 billion in fourth-quarter 2011 and $6.13 billion for fiscal year 2011.

The latest sales figures include $1.58 billion in generics sales and $155.1 million in branded drug sales.

"2012 was an outstanding year for Mylan, with top-line growth of 11% and bottom-line growth of 27% versus last year," Mylan CEO Heather Bresch said.

CFO John Sheehan said the company anticipated further double-digit bottom-line growth in 2013, expecting revenues of between $7 billion and $7.4 billion.

"We believe that our ability to continue to generate consistent growth underscores the power of our global platform," Sheehan said.

 

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Mylan acquires Indian injectables maker

BY Alaric DeArment

PITTSBURGH — Mylan has bought a manufacturer of generic injectables for $1.6 billion, the company said.

Mylan announced the acquisition of Bangalore, India-based Agila from Strides Arcolab, which Mylan said would allow it to strengthen its injectables business and enter new markets around the world.

"The addition of Agila to our existing injectables platform will immediately create a new, powerful global leader in this fast-growing attractive market segment and accelerate our target of becoming a top-three global player in injectables," Mylan CEO Heather Bresch said. "Further, the acquisition of this unique asset delivers on several of Mylan’s strategic growth drivers by further expanding and diversifying our product portfolio and geographic reach, strengthening our presence in the institutional channel and positioning us to maximize our generic biologics portfolio."

 

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