PHARMACY

Valeant, Biovail become one

BY Alaric DeArment

MISSISSAUGA, Ontario The merger between Valeant Pharmaceuticals International and Biovail is complete, the two companies said Tuesday.

 

Shareholders of both companies have approved the merger, worth more than $3 billion, originally announced in June.

 

 

The combined company will take Valeant’s name.

 

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PHARMACY

Hi-Tech Pharmacal to market generic Subutex

BY Alaric DeArment

AMITYVILLE, N.Y. Hi-Tech Pharmacal will market a generic version of a drug used to treat opioid dependence, the company said Monday.

 

Hi-Tech announced that it would market buprenorphine hydrochloride in the 2-mg and 8-mg strengths through its Midlothian Labs division. The drug is in the form of a tablet placed under the tongue.

 

 

The tablets are a generic version of Reckitt Benckiser’s Subutex, which had sales of $75 million during the 12-month period ended in June, according to IMS Health.

 

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