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FDA Clears Glucose Monitoring Strip
Abbott has received Food and Drug Administration clearance to market its FreeStyle Lite blood glucose monitoring strip. First shipments will go out in July; widespread availability is expected by the end of August. The test trips use a glucose dehydrogenase flavin adenine dinucleotide, which is unaffected by common nonglucose sugars such as maltose and galactose, and which minimizes the potential for other interference, according to a company statement. The new strips are designed to ensure faster blood application and a reduction in the number of error messages and wasted strips. These features provide a “better testing experience … especially for people who use insulin to manage their diabetes,” said Heather L. Mason, senior vice president of Abbott Diabetes Care. The FDA clearance follows Abbott's announcement of the product's European availability.
GSK Inks Deal With Dong-A Pharmaceutical
In an alliance designed to help GlaxoSmithKline gain a share in the rapidly growing Korean pharmaceutical market, GSK is paying 142.9 billion South Korean won ($128.7 million) to acquire a 9.9% stake in Dong-A Pharmaceutical, South Korea's leading prescription and over-the-counter drug company. The deal will make GSK Dong-A's second largest shareholder after Kang Shin-Ho, Dong-A's chairman, who holds a 10.6% share. According to GSK, the initial focus of the collaboration will be to copromote products from both firms in Korea's primary care market. A new business unit will be established within Seoul-based Dong-A to capture additional synergies. These could include partnerships on select Dong-A chemical entities leveraging GSK's global commercial infrastructure and expertise, as well as codevelopment of branded generics, the company added. “It's an innovative partnership to support GSK's growth and diversification strategy,” said Kim Jin-Ho, general manager of GSK Korea. The partnership could serve as a cushion for GSK's pending loss of patent protection on some of its drugs, said Bae Ki-Dal of Shinhan Investment Corp. “It's fair to say that GSK and Dong-A are forming a united front against potential setbacks,” he said.
Takeda Cuts Jobs, Boosts R&D
Citing patent loss on key products sold in North America along with the strong yen against the U.S. dollar and other currencies, the Japanese pharmaceutical company Takeda reported revenue decreases of 4.7% in fiscal 2009, its first sales decline in 19 years. The type 2 diabetes drug Actos (pioglitazone), one of Takeda's core products, will lose its U.S. patent in 2011. The company's settlement of patent infringement lawsuits with six of eight generic firms for Actos and Actoplus Met (pioglitazone/metformin) will delay the generics' penetration until August 2012. Anticipating a 5% reduction revenues and a 26% loss in operating income for fiscal 2010, Takeda will boost research and development expenditures to accelerate pipeline development. The company plans to launch alogliptin, which it positions as a key post-Actos product, in 2012. Basen (voglibose), a type 2 diabetes treatment, and several other company products also are facing expirations. In light of patent expiries and revenue loss, Takeda announced that it will let go 10% of its employees—about 2,000 people. Most of the cuts are expected in the company's U.S. subsidiary, Takeda Pharmaceuticals North America.
Pfizer, Washington U. in 5-Year Deal
Pfizer has announced a 5-year deal with Washington University in St. Louis, during which time the university will receive $22.5 million and its researchers will have access to a searchable, proprietary database of Pfizer compounds and related information. It will be a “truly collaborative partnership,” said Don Frail, chief scientific officer of Pfizer's Indications Discovery Unit. The arrangement enables the pharmaceutical company to take advantage of external research and development capabilities at a nominal price. Pfizer's history of partnerships with Washington University, which goes back nearly 30 years, has shown that the school's Center for Genome Sciences has significant expertise in a broad range of diseases, including diabetes and related metabolic disorders, asthma, chronic obstructive pulmonary disease, and Alzheimer's, Mr. Frail said.
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.
FDA Clears Glucose Monitoring Strip
Abbott has received Food and Drug Administration clearance to market its FreeStyle Lite blood glucose monitoring strip. First shipments will go out in July; widespread availability is expected by the end of August. The test trips use a glucose dehydrogenase flavin adenine dinucleotide, which is unaffected by common nonglucose sugars such as maltose and galactose, and which minimizes the potential for other interference, according to a company statement. The new strips are designed to ensure faster blood application and a reduction in the number of error messages and wasted strips. These features provide a “better testing experience … especially for people who use insulin to manage their diabetes,” said Heather L. Mason, senior vice president of Abbott Diabetes Care. The FDA clearance follows Abbott's announcement of the product's European availability.
GSK Inks Deal With Dong-A Pharmaceutical
In an alliance designed to help GlaxoSmithKline gain a share in the rapidly growing Korean pharmaceutical market, GSK is paying 142.9 billion South Korean won ($128.7 million) to acquire a 9.9% stake in Dong-A Pharmaceutical, South Korea's leading prescription and over-the-counter drug company. The deal will make GSK Dong-A's second largest shareholder after Kang Shin-Ho, Dong-A's chairman, who holds a 10.6% share. According to GSK, the initial focus of the collaboration will be to copromote products from both firms in Korea's primary care market. A new business unit will be established within Seoul-based Dong-A to capture additional synergies. These could include partnerships on select Dong-A chemical entities leveraging GSK's global commercial infrastructure and expertise, as well as codevelopment of branded generics, the company added. “It's an innovative partnership to support GSK's growth and diversification strategy,” said Kim Jin-Ho, general manager of GSK Korea. The partnership could serve as a cushion for GSK's pending loss of patent protection on some of its drugs, said Bae Ki-Dal of Shinhan Investment Corp. “It's fair to say that GSK and Dong-A are forming a united front against potential setbacks,” he said.
Takeda Cuts Jobs, Boosts R&D
Citing patent loss on key products sold in North America along with the strong yen against the U.S. dollar and other currencies, the Japanese pharmaceutical company Takeda reported revenue decreases of 4.7% in fiscal 2009, its first sales decline in 19 years. The type 2 diabetes drug Actos (pioglitazone), one of Takeda's core products, will lose its U.S. patent in 2011. The company's settlement of patent infringement lawsuits with six of eight generic firms for Actos and Actoplus Met (pioglitazone/metformin) will delay the generics' penetration until August 2012. Anticipating a 5% reduction revenues and a 26% loss in operating income for fiscal 2010, Takeda will boost research and development expenditures to accelerate pipeline development. The company plans to launch alogliptin, which it positions as a key post-Actos product, in 2012. Basen (voglibose), a type 2 diabetes treatment, and several other company products also are facing expirations. In light of patent expiries and revenue loss, Takeda announced that it will let go 10% of its employees—about 2,000 people. Most of the cuts are expected in the company's U.S. subsidiary, Takeda Pharmaceuticals North America.
Pfizer, Washington U. in 5-Year Deal
Pfizer has announced a 5-year deal with Washington University in St. Louis, during which time the university will receive $22.5 million and its researchers will have access to a searchable, proprietary database of Pfizer compounds and related information. It will be a “truly collaborative partnership,” said Don Frail, chief scientific officer of Pfizer's Indications Discovery Unit. The arrangement enables the pharmaceutical company to take advantage of external research and development capabilities at a nominal price. Pfizer's history of partnerships with Washington University, which goes back nearly 30 years, has shown that the school's Center for Genome Sciences has significant expertise in a broad range of diseases, including diabetes and related metabolic disorders, asthma, chronic obstructive pulmonary disease, and Alzheimer's, Mr. Frail said.
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.
FDA Clears Glucose Monitoring Strip
Abbott has received Food and Drug Administration clearance to market its FreeStyle Lite blood glucose monitoring strip. First shipments will go out in July; widespread availability is expected by the end of August. The test trips use a glucose dehydrogenase flavin adenine dinucleotide, which is unaffected by common nonglucose sugars such as maltose and galactose, and which minimizes the potential for other interference, according to a company statement. The new strips are designed to ensure faster blood application and a reduction in the number of error messages and wasted strips. These features provide a “better testing experience … especially for people who use insulin to manage their diabetes,” said Heather L. Mason, senior vice president of Abbott Diabetes Care. The FDA clearance follows Abbott's announcement of the product's European availability.
GSK Inks Deal With Dong-A Pharmaceutical
In an alliance designed to help GlaxoSmithKline gain a share in the rapidly growing Korean pharmaceutical market, GSK is paying 142.9 billion South Korean won ($128.7 million) to acquire a 9.9% stake in Dong-A Pharmaceutical, South Korea's leading prescription and over-the-counter drug company. The deal will make GSK Dong-A's second largest shareholder after Kang Shin-Ho, Dong-A's chairman, who holds a 10.6% share. According to GSK, the initial focus of the collaboration will be to copromote products from both firms in Korea's primary care market. A new business unit will be established within Seoul-based Dong-A to capture additional synergies. These could include partnerships on select Dong-A chemical entities leveraging GSK's global commercial infrastructure and expertise, as well as codevelopment of branded generics, the company added. “It's an innovative partnership to support GSK's growth and diversification strategy,” said Kim Jin-Ho, general manager of GSK Korea. The partnership could serve as a cushion for GSK's pending loss of patent protection on some of its drugs, said Bae Ki-Dal of Shinhan Investment Corp. “It's fair to say that GSK and Dong-A are forming a united front against potential setbacks,” he said.
Takeda Cuts Jobs, Boosts R&D
Citing patent loss on key products sold in North America along with the strong yen against the U.S. dollar and other currencies, the Japanese pharmaceutical company Takeda reported revenue decreases of 4.7% in fiscal 2009, its first sales decline in 19 years. The type 2 diabetes drug Actos (pioglitazone), one of Takeda's core products, will lose its U.S. patent in 2011. The company's settlement of patent infringement lawsuits with six of eight generic firms for Actos and Actoplus Met (pioglitazone/metformin) will delay the generics' penetration until August 2012. Anticipating a 5% reduction revenues and a 26% loss in operating income for fiscal 2010, Takeda will boost research and development expenditures to accelerate pipeline development. The company plans to launch alogliptin, which it positions as a key post-Actos product, in 2012. Basen (voglibose), a type 2 diabetes treatment, and several other company products also are facing expirations. In light of patent expiries and revenue loss, Takeda announced that it will let go 10% of its employees—about 2,000 people. Most of the cuts are expected in the company's U.S. subsidiary, Takeda Pharmaceuticals North America.
Pfizer, Washington U. in 5-Year Deal
Pfizer has announced a 5-year deal with Washington University in St. Louis, during which time the university will receive $22.5 million and its researchers will have access to a searchable, proprietary database of Pfizer compounds and related information. It will be a “truly collaborative partnership,” said Don Frail, chief scientific officer of Pfizer's Indications Discovery Unit. The arrangement enables the pharmaceutical company to take advantage of external research and development capabilities at a nominal price. Pfizer's history of partnerships with Washington University, which goes back nearly 30 years, has shown that the school's Center for Genome Sciences has significant expertise in a broad range of diseases, including diabetes and related metabolic disorders, asthma, chronic obstructive pulmonary disease, and Alzheimer's, Mr. Frail said.
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.