Archive for December, 2014

Abbott completes acquisition of Veropharm

Posted on December 15th, 2014 by Valorem Life Sciences

Abbott today announced that it has acquired control of Veropharm, a leading Russian pharmaceutical manufacturer. Abbott has had a presence in Russia for nearly 40 years and, in line with its long-term commitment to growing global healthcare markets and capabilities, the company is committed to providing a reliable supply of its healthcare products to Russian patients.
Through this acquisition, Abbott establishes a manufacturing footprint in Russia through Veropharm’s production facilities, which include a new manufacturing facility currently under construction. Abbott also obtains a portfolio of medicines that is well aligned with its current pharmaceutical therapeutic areas of focus in women’s health, central nervous system, cardiovascular and gastroenterology, while adding an offering in the field of oncology and pharmaceutical R&D capabilities for Russia.

Abbott acquired control of Veropharm for 16.7 billion rubles (or approximately $305 million U.S. dollars) through its purchase of Limited Liability Company Garden Hills, the holding company that currently owns approximately 98 percent of Veropharm. Abbott will fund the transaction with cash on the company’s balance sheet. The transaction will not impact ongoing earnings-per-share guidance for 2014.

About Abbott
Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 69,000 people.

Source: World Pharma News

AZ and Lilly begin Alzheimer’s trial with BACE inhibitor

Posted on December 1st, 2014 by Valorem Life Sciences

AstraZeneca and Eli Lilly have begun a major trial for patients with early-stage Alzheimer’s disease.

Enrolment has begun for a Phase II/III study of AZD3293, an oral beta secretase cleaving enzyme (BACE) inhibitor. The two-year study aims to enrol more than 1,500 patients in 15 countries with early-stage Alzheimer’s.

Samantha Budd, head of translational science in AstraZeneca’s neuroscience innovative medicines unit said there is “a critical need” to develop drugs that can “change the course of Alzheimer’s. We believe that BACE inhibitors have the potential to target one of the key drivers of this devastating disease [and] together with Lilly, we have unique expertise”.

The companies linked up for AZD3293 in September in an alliance that could net AstraZeneca up to $500 million in development and regulatory milestone payments.

Source: Pharma Times