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Thomson Reuters, BGC partner to expand OTC data coverage

BY Ryan Chavis

NEW YORK — Thomson Reuters and BGC Partners on Wednesday announced an agreement to expand customer access to over-the-counter pricing data. BGC's OTC pricing data is now available to customers using Thomson Reuters Eikon, Thomson Reuters Elektron Real Time, Tick History and DataScope Select, as well as BGC's trading system.

Obtaining access to real-time OTC pricing data alongside news and analytics tools will give traders the information they need to better inform trading decisions, the companies said.

"We are delighted to announce this partnership with Thomson Reuters, which significantly expands the distribution of BGC's global market data capabilities via Thomson Reuters Eikon and Elektron. In addition, it offers clients extensive flexibility and empowers their business operations with OTC data from BGC's global electronic and voice-hybrid broking operations," said Mark Benfield, executive managing director and global head of BGC Partners' Market Data Group. "We also are pleased that clients have quickly adopted this new data access and distribution model, which ultimately simplifies direct-to-source and client-driven data licensing options."

The database of pricing data includes global fixed income, global interest rate swaps and options, and global foreign excahnge. Thomson Reuters Eikon and Elektron customers also will have access to BGC's Specialist Data Services.

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Mylan granted restraining order against Apotex

BY Ryan Chavis

PITTSBURGH — Mylan on Wednesday announced that U.S. District Court for the district of New Jersey granted a temporary restraining order against Apotex Inc. and Apotex Corp. relating to Paroxetine CR, the authorized generic version of Paxil CR from GlaxoSmithKline. The court ordered Apotex to immediately cease all sales and supply of Paroxetine CR.

Additionally, the court ordered Apotex to immediately recall all product that shipped since the injunction was entered on July 16.

Mylan holds an exclusive license to the Orange Book patent associated with Paxil CR, which expires July 2016, with pediatric exclusivity extending until Jan. 19, 2017, according to Mylan. The company believes its the only company to have filed an abbreviated new drug application for generic Paxil CR that contains a paragraph-IV certification. The court previously awarded a permanent injunction against GlaxoSmithKline in relation to generic Paxil CR.

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Health Mart empowers pharmacists, students for RxOwnership

BY Michael Johnsen

ORLANDO, Fla. — McKesson’s RxOwnership group hosted its seventh annual Ownership Transfer Luncheon on Tuesday, where attendees interested in either acquiring an independent pharmacy operation, or selling one, could learn more about the programs and support available. 

“We all have a universal interest in independent pharmacy, but the industry has changed,” noted Bob Graul, national VP RxOwnership at McKesson. “We have far more pressures than we used to have. Regulatory issues and requirements are growing. Clinical outcomes are becoming more important; we have to change the way we practice so that we stay current and relevant.”

Limited networks and competition from both chains and mail order also pose their challenges, Graul added.

“Because of this we’re seeing a big shift in the ownership ranks,” he said, noting that as many as 10,000 independent locations will change hands in the next 10 years. Today, 24% of independent pharmacy operators own more than one location, and there are more independents opening than there are closing.

McKesson, back in 2007, made a decision to invest in this segment and since then,the RxOwnership program has helped 2,172 pharmacies either transition or open, Graul said.

RxOwnership focuses on three core areas to help independent pharmacists either buy, sell or build a community pharmacy, including such comprehensive resources as local market intelligence and step-by-step guidance; individualized matching services to help match buyers and sellers (for students, that includes identifying internship and junior-equity opportunities); and financing options along with valuations and/or inventory credit.

McKesson on Tuesday also hosted a number of events supporting new pharmacy specifically designed for area pharmacy school students, including students from McWhorter School of Pharmacy at Samford University, The University of Florida Gainesville College of Pharmacy and the University of South Florida College of Pharmacy. The students were on hand to learn about independent pharmacy as a career choice during two educational sessions, and were invited to attend the Ownership Transfer Luncheon.

Christopher Cella, VP RxOwnership for the Northeast Region at McKesson, hosted a continuing education course that provided an overview of the requirements and process of opening a new pharmacy from the ground up, starting with the business plan. And pharmacy owners don’t do it alone, Cella said. They align themselves with three key team members, including legal counsel, an accountant and an insurance agent.

Financing is a key consideration, as is location. Cella shared a number of tips in identifying target locations, including contacting an area Chambers of Commerce to learn about potential communities with a need for an independent pharmacy, in addition to speaking with wholesalers like McKesson.

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