Taro to repurchase up to 5.3% of outstanding stock for $200 million
HAWTHORNE, N.Y. — Taro Pharmaceutical Industries plans to repurchase up to $200 million of its own shares, the Israeli generic drug maker said.
Taro announced a tender offer to repurchase the shares for between $84.50 and $97.50 each, with the total amount representing 4.6% to 5.3% of its outstanding shares.
The offer expires on Dec. 23, the company said.
Teva launches imiquimod cream
NORTH WALES, Pa. — Teva Pharmaceutical Industries’ U.S. subsidiary has launched a generic drug for treating warts and skin lesions, the company said.
Teva Pharmaceuticals announced the launch and availability of imiquimod cream, a generic version of Medicis Pharmaceutical Corp.’s Aldara.
The drug is used to treat external genital and rectal warts, certain types of actinic keratosis and basal cell carcinoma. Various versions of the drug had sales of about $244 million in 2011, according to IMS Health.
Health Mart offers pharmacy performance management platform
SAN FRANCISCO — Health Mart, a community franchise of more than 3,000 independently owned pharmacies across all 50 states, on Friday announced that it will offer its member pharmacies access to Pharmacy Quality Solutions’ EQuIPP, an online information management platform that makes pharmacy performance data available to health plans and community pharmacy organizations.
Once the platform is made available to Health Mart stores, they will be able to review their unique performance data, compare them to a benchmark and then identify areas for improvement in patient care and clinical outcomes.
“As the old adage goes, you can’t manage what you don’t measure,” Steve Courtman, president, Health Mart said. “Public and private payors are increasingly using performance data to determine which retail pharmacies are most effective in impacting positive clinical outcomes for patients and selecting the top performers to be their preferred pharmacies. We are committed to providing our Health Mart stores with the tools, data and products needed to thrive in performance networks.”
“We are excited to partner with Health Mart to drive awareness of the pharmacy measures and the importance of using performance metrics to improve clinical care,” David Nau, president PQS said. “If Health Mart owners better understand how they are being measured, they can determine where they are currently delivering strong clinical results and take steps to strengthen areas that can be improved, leading to the best possible patient care and outcomes.”
PQS is a joint venture of the Pharmacy Quality Alliance and CECity. PQA-endorsed measures are used by the Centers for Medicare & Medicaid Services in the Medicare Part D Star Ratings Program, a performance metric system used to rate prescription drug plan performance. Of the fifteen metrics included in a Part D Star Rating, five core pharmacy metrics are triple weighted and can influence nearly half of a drug plan’s total composite score, making it critical that payors partner with high-performing pharmacies.
Supporting patient medication adherence and identifying and intervening on gaps in patient care are two metric areas where community pharmacies are uniquely poised to excel due to their strong personal patient relationships. Health Mart has a number of programs to help its member pharmacies address patient non-adherence. These programs include educational support to deliver behavioral coaching and medication synchronization services, as well as intervention tools such as refill reminders and McKesson’s pharmacy intervention program.
Health Mart is a member of the Pharmacy Quality Alliance and is committed to supporting the organization’s effort to standardize pharmacy performance metrics.