Walgreens’ Ken Finnegan to assume leadership of corporate innovation team
NEW YORK — Ken Finnegan, Walgreens divisional VP healthcare new business development, will assume leadership of the corporate innovation team, Drug Store News has learned.
Finnegan succeeds Colin Watts, corporate VP and chief innovation officer, who is departing Walgreens for Weight Watchers in January. In that capacity, Finnegan will pick up on Watts’ efforts to transform the retail pharmacy retail format into more of a destination center for all issues regarding health and wellness.
Walgreens is currently piloting a new pharmacy, health and wellness experience that features a pharmacist desk area in front of the pharmacy counter to provide greater accessibility for consultation and an open, redesigned layout with expanded fresh food and beauty products, and more accessible shelving and checkout lines.
Weight Watchers International on Monday announced the appointment of Watts as SVP wellness and global innovation, effective Jan. 3. Watts will oversee that company’s North American B2B/healthcare business operations in addition to its global innovation and consumer insights teams.
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FDA releases draft of GDUFA goals
WASHINGTON — Following months of meetings and negotiations with the drug and chemical industries, the Food and Drug Administration has released a draft of the goals of the Generic Drug User Fee Act.
The act, which still requires approval from Congress, would give the FDA $1.5 billion over five years through industry user fees. The law, also known as GDUFA, has long been a goal of the generic drug industry, which sees it as a way of expediting the agency’s review of generic drugs and whittling down its massive backlog of thousands of applications currently awaiting review and taking action on 90% of the generic drug approval applications within 10 months after the date of submission. The law also would enhance the FDA’s ability to inspect foreign manufacturing sites; according to the Government Accountability Office, the FDA was able to conduct good manufacturing practice inspections at 11% of the foreign sites in its database, compared with 40% of domestic sites.
"The Generic Drug User Fee Act is a milestone for the generic drug industry and a major win for American healthcare consumers," Generic Pharmaceutical Association president and CEO Ralph Neas said. "This program, as negotiated, will result in expedited access to low-cost, high-quality generic drugs for Americans and will further safeguard the quality and accessibility of our nation’s drug supply."
So who gets to pay the User Fee ?
FDA approves painkiller made by Sun Pharmaceutical Industries
MUMBAI, India — The Food and Drug Administration has approved a generic painkiller made by Sun Pharmaceutical Industries, Sun said.
Sun announced the approval of tramadol hydrochloride extended-release tablets, a generic version of Valeant International’s Ultram ER. The drug is used to treat moderate to moderately severe chronic pain in adults who need constant treatment for an extended period of time.
Various versions of the drug have annual sales of $125 million, according to Sun.
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