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Drug giant Pfizer has signed a deal to acquire Idun Pharmaceuticals, a San Diego-based biopharmaceutical firm that owns more than 150 patents covering drug targets, new chemical entities, drug-screening assays, diagnostics and antibodies.
Brand firm Novartis is poised to become the world’s largest generic drug company after it agreed to purchase German generic drugmaker Hexal AG and U.S. generic company Eon Labs.
Pfizer has inked a deal to acquire Idun Pharmaceuticals, a San Diego-based biopharmaceutical firm that owns more than 150 patents covering drug targets, new chemical entities, drug-screening assays, diagnostics and antibodies.
Pharmaceutical benefit manager (PBM) Medco Health Solutions has agreed to acquire Accredo Health for $2.2 billion — a deal that would create the nation’s largest specialty pharmacy business, Medco announced Feb. 23.
Generic firm Ivax has signed a settlement agreement with rival Alpharma that will enable it to launch a generic version of Pfizer’s Neurontin before Alpharma’s 180 days of marketing exclusivity expires.
PolyMedica announced that its subsidiary, Liberty Medical Supply, acquired substantially all of the assets, excluding receivables, and the business of National Diabetic Assistance (NDAC).
The number of patent settlements between brand and generic drugmakers has increased in recent years, and the agreements are being completed without payments from the brand to the generic in exchange for the generic's commitment not to market the product, according to a new federal study.
Brand drugmaker King Pharmaceuticals announced last month that it intends to restate its earnings for 2002, 2003 and the first six months of 2004 — an action that could prompt Mylan Laboratories to terminate its pending merger with King without having to pay an $85 million penalty fee.