Industry Overview

Contracts, Mergers, and Announcements

Generic drug maker American Pharmaceutical Partners (APP, Schaumburg, IL) reported late last week that FDA's ANDA-approval inspection of a raw material supplier uncovered issues that would delay the approval of its ceftriaxone (injection, USP). The delay does not affect any currently marketed products, APP said. MAP Pharmaceuticals (Montainview, CA) and Elan Corporation have agreed to amend their previous 2004 agreement to apply Elan's proprietary "NanoCrystal" technology to defined inhalation therapies. MAP has been collaborating with Elan to develop a nebulized form of budesonide for the treatment of asthma. The agreement provides additional rights to MAP for the use of NanoCrystal technology for the treatment of multiple respiratory diseases. Marion Weinreb & Associates, Inc. (Kansas City, MO) and ProPharma Group, Inc. (San Francisco, CA) have announced a strategic alliance to offer comprehensive compliance services to pharmaceutical, medical device, and biotech companies. CSSC (Morristown, NJ) opened a new office in Cambridge, Massachusetts, boosting its US property to three offices and a strategic partnership in Europe. Hospira, Inc. has completed its acquisition of Physiometrix, Inc., a Massachusetts-based developer of noninvasive medical devices. Hospira announced plans to acquire Physiometrix in June for approximately $23 million in cash. The proposed acquisition of Transkaryotic Therapies, Inc. (Wayne, PA) by Shire Pharmaceuticals (Basingstoke, UK) was approved by Shire’s shareholders on July 27, 2005. The acquisition is now expected to completed later today, July 28. Bionutrics, Inc., (Phoenix, AZ) has entered into an agreement to purchase Kirk Pharmaceuticals and its affiliate, Andapharm. Under the terms of the agreement, Bionutrics will purchase Kirk for $12 million and will gain, among other things, a designated manufacturing site for Bionutric's prospective ANDA and 505(b)(2) drug applications. (continued to People)