Valeant acquires Pedinol
MONTREAL — Valeant announced that it has acquired a privately owned specialty pharmaceutical company based in the United States.
Pedinol Pharmacal, a podiatry-focused company that has been in business for more than 85 years, was acquired for an undisclosed amount that was said to be 1.5 times sales. Pedinol touted $18 million in revenue last year.
"The Pedinol business will be a strong fit alongside Valeant’s dermatology franchise," Valeant chairman and CEO J. Michael Pearson said. "The podiatry market has similar characteristics to the dermatology market that we find attractive from a risk and reward aspect, and expanding into this area is a natural extension of our topical formulation development capabilities."
Prasco to market authorized generic Vancocin
CINCINNATI — Prasco Labs will market an authorized generic version of a drug used to treat diarrhea caused by a bacterial infection, the company said Wednesday.
Prasco announced that it had signed a deal with ViroPharma to market an authorized generic version of Vancocin (vancomycin hydrochloride) capsules in the 125-mg and 250-mg strengths. The drug is used to treat diarrhea related to Clostridium difficile infection.
The news follows Watson’s announcement Tuesday that the Food and Drug Administration had approved its generic version of Vancocin. Unlike generic drugs, authorized generics are branded drugs marketed under their generic names at a reduced price under agreements between the original branded drug’s manufacturer and an outside company.
Vancocin had sales of $332 million during the 12-month period ended in February, according to IMS Health.
Kentucky passes bill aimed to protect patients, community pharmacies from PBM audit practices
ALEXANDRIA, Va. — Legislation that requires transparency in the pharmacy audit processes conducted by pharmacy benefit managers is being enacted in Kentucky.
H.B. 349, which was signed by Kentucky state governor Steve Beshear last week and sponsored by Senate majority whip Tommy Thompson (D-Ky.), is designed to prohibit PBMs from seeking to recoup payments through pharmacy audits when there is no evidence of fraud.
The signing of the legislation was praised by the National Association of Chain Drug Stores.
"We thank Governor Steve Beshear for signing this important pro-patient, pro-pharmacy legislation to curb tactics used by some PBMs that take away from the important business of improving patient health and making healthcare delivery more efficient and cost-effective," NACDS president and CEO Steve Anderson said. "We thank Rep. Thompson, the Kentucky Retail Federation and the Kentucky Pharmacists Association for their leadership in helping to ensure transparency in the PBM audit process."