Watson’s global generics business sees boost
MORRISTOWN, N.J. — Watson’s global generics business drove the drug maker’s net revenue in the fourth quarter, according to a financial earnings release.
Watson said that while its overall net revenue increased 21% to nearly $953 million for the quarter ended Dec. 31, 2010, compared with the year-ago period, its global generics business realized a 38% gain to $646 million, thanks to the addition of Watson’s international business and new products, including metoprolol succinate extended-release, Zarah and diltiazem extended-release. For the full year, net revenue for the generics segment rose 40% to $2.34 billion, which was attributed to increased sales of extended-release products, the launch of new products and the addition of product sales from international markets.
Watson did report, however, that its global brands segment experienced losses due to the loss of Ferrlecit, a drug designed to treat iron deficiency anemia — although the losses were offset partially by increased sales of Rapaflo, Gelnique, Androderm and the addition of Crinone. Net revenue for the quarter and full year totaled $103.3 million (down about 15%) and $397.8 million (a near 14% decrease), respectively.
For the full year, Watson said its net revenue increased 28% to $3.6 billion, compared to net revenue of $2.8 billion for full year 2009.
APhA Foundation seeks new executive director
WASHINGTON — The American Pharmacists Association Foundation is looking for a new executive director, the organization said.
The APhA Foundation said it would post a complete description of the position and qualifications on the foundation’s website by Wednesday. The foundation will accept applications until March 10 and make a decision by July.
The new executive director will replace William Ellis, who announced in September that he would leave the position to become executive director of the Board of Pharmacy Specialties.
Walgreens builds up pharmacy purchasing team
DEERFIELD, Ill. — Walgreens on Monday rounded out the pharmacy purchasing team led by Jeff Berkowitz, who joined Walgreens in the fall as SVP pharmaceutical development and market access. The team reporting to Berkowitz includes Walgreen veterans Frank DeStefano, Mike Bleser and Mike Allen, as well as newcomers Jeff Foreman and Gary Gleeson.
Following are the responsibilities each will be covering:
Frank DeStefano has been promoted to group VP pharmacy purchasing and supply chain. DeStefano, a 19-year veteran of Walgreens, has led the pharmacy purchasing department since April 2004. DeStefano will be responsible for the purchasing of brand and generic pharmaceutical purchases, as well as pharmaceutical inventory optimization for Walgreens’ retail, mail, specialty, home infusion, on-site and work-site pharmacy units;
Mike Bleser has been promoted to divisional VP pharmacy supply chain and analytics and will be responsible for the strategic management of pharmacy inventory across Walgreens. Bleser first joined Walgreens as manager of reporting and analysis in 1993 and “has been a big contributor in his roles in e-commerce, corporate strategy and most recently, pharmacy purchasing,” Walgreens stated;
Mike Allen has been promoted to divisional VP generic pharmacy purchasing and strategy, where he will be responsible for all generic drug purchasing for Walgreens. He previously was divisional merchandise manager for generics. Allen joined Walgreens in 1998 as a pharmacist after graduating from the Drake University School of Pharmacy that same year;
Jeff Foreman joined Walgreens as divisional VP brand pharmaceutical wholesaler and vaccine purchasing. Foreman comes to Walgreens from Cardinal Health, where he was VP strategic purchasing, marketing and business development. At Cardinal Health, he was responsible for half of the company’s pharmaceutical purchasing and for negotiating fee-for-service agreements with branded pharmaceutical manufacturers. Foreman also was responsible for clinical marketing programs and led the marketing and business development group. Prior to Cardinal, he spent 12 years with Walmart and was a pharmacy regional manager for Walmart’s across California, Utah, Nevada, Arizona and Hawaii. Foreman also held various positions at GlaxoSmithKline, Copper Country Apothecaries and Arbor Drugs and earned his B.S. in pharmacy from Ferris State University; and
Gerry Gleeson joined Walgreens as divisional VP of pharmaceutical development. Gleeson’s primary focus will be optimizing Walgreens’ relationships with pharmaceutical manufacturers. Gleeson comes to Walgreens by way of Merck (formerly Schering-Plough), where he was an executive leader in the global market access business unit. He was responsible for leading the payer marketing strategy for all core U.S. product franchises and managing the global diversified products business unit. Prior to his time at Merck, Gleeson was a senior consultant in the life sciences practice with KPMG Peat Marwick.