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May 12, 2014
07:54 EDTLCI, GSKLannett announces multi-services agreement with Sunshine Lake
Lannett Company (LCI) announced that it has entered into distribution and contract manufacturing services agreements with Sunshine Lake LLC, the U.S. subsidiary of the HEC Pharm Group of Shenzhen, Guangdong Province, China. Under terms of the distribution agreement, Lannett will be the exclusive distributor in the U.S. for Sunshine Lake’s Zidovudine generic pharmaceutical product in finished dosage form. Zidovudine Tablets 300 mg was launched by Lannett last week. According to IMS, full year 2013 total sales of Zidovudine Tablets 300 mg, the generic equivalent of Retrovir, a registered trademark of GlaxoSmithKline (GSK), at Average Wholesale Price were approximately $4.5M. The intention of the parties is to add additional products from time to time, and may include a number of ANDAs currently pending at FDA, as well as future filings.
News For LCI;GSK From The Last 14 Days
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November 27, 2015
08:00 EDTGSKGlaxo has cut 40% of China sales reps in wake of scandal, Reuters reports
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07:34 EDTGSKGlaxoSmithKline starts phase III study of sirukumab in Giant Cell Arteritis
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06:57 EDTLCILannett completes acquisition of Kremers Urban for roughly $1.23B
Lannett Company (LCI) announced that it has completed the acquisition of Kremers Urban Pharmaceuticals, the U.S. specialty generic pharmaceuticals subsidiary of global biopharmaceuticals company UCB S.A. (UCBJY). Lannett has acquired KU from UCB for total consideration of approximately $1.23B, subject to certain adjustments, including a customary working capital adjustment, a deduction of certain reimbursable amounts payable in connection with the financing of the transaction, and a reduction for any indebtedness and unpaid transaction expenses of KU existing at closing. In connection with the transaction, Lannett issued to UCB $200M senior unsecured notes along with 2.5M warrants, which may be net settled. UCB will also be eligible to receive contingent payments for Methylphenidate HCI ER when the product's AB rating is restored. The combined company generated pro-forma revenues of more than $800M for the 12 months ended June 30, 2015. KU brings a diversified commercial product portfolio of 18 products; a strong pipeline that includes 11 product applications pending at the FDA.
November 25, 2015
11:29 EDTGSKStudy says Valeant, others exploding dermatology drug prices, WSJ reports
The JAMA Dermatology journal published a new study that found that retail prices of 19 dermatologic prescription drugs increased fivefold on average between 2009 and 2015, reported The Wall Street Journal. Targretin, marketed by Valeant (VRX), jumped to $30,320 this year from $15,708 last year and $1,687 in 2009, the study found, but "It's not just Valeant," said lead author Miranda Rosenberg. Prices for drugs made by GlaxoSmithKline (GSK) and Novartis (NVS) at least doubled or tripled over the same time frame, the report noted. Reference Link
November 24, 2015
11:16 EDTGSKAdaptimmune initiates Phase I/II trial of affinity enhanced T-cell therapy
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November 23, 2015
08:08 EDTGSKIdera Pharmaceuticals announces partnership with GSK
Idera Pharmaceuticals (IDRA) announced it has entered into an exclusive worldwide collaboration and license agreement with GSK (GSK) to research, develop and commercialize selected molecules from Idera's 3rd generation antisense platform for the treatment of selected targets in renal disease. Under the terms of the agreement, Idera is eligible to receive approximately $100M in development and regulatory milestone payments, including a $2.5M upfront payment. Additionally, Idera is eligible to receive royalties on all sales upon commercialization at varying rates up to five percent on annual net sales in excess of $500M.
November 18, 2015
08:11 EDTGSKIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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