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Sanofi-Aventis to Pay US$1.9Bn for Chattem

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Sanofi-Aventis to Pay US$1.9Bn for Chattem OTC20-01-10p1.qxd 18/1/10 07:50 Page 1 20 January 2010 COMPANY NEWS 2 GlaxoSmithKline strikes 2 Sanofi-Aventis to pay cold-sore deal in the US Thornton &Ross snaps up 3 Metanium US$1.9bn for Chattem Ransom faces an uncertain future 4 Novartis set to take control 5 of Alcon anofi-Aventis is set to enter the US OTC times Chattem’s sales in 2009 and 13.3-times Celesio considers future 6 Smarket by acquiring Chattem for approx- its earnings before interest, tax, depreciation of its retailing operation imately US$1.9 billion (C1.3 billion). and amortisation (EBITDA). Pharmacy Chain 36.6 8 Chris Viehbacher,chief executive officer of In the year ended 30 November 2008, Chat- raises RUB2.3 billion Sanofi-Aventis, described Chattem as the “ideal tem’s sales increased by 7% to US$455 mil- Kraft sweetens Cadbury offer 9 platform in the US consumer healthcare mar- lion. Around 93% of its turnover was gener- ket, which represents 25% of the current world- ated in the US through brands such as ACT, GENERAL NEWS 10 wide opportunity”. Cortizone-10, Gold Bond, Icy Hot, Selsun Blue Chattem would provide a strong vehicle for and Unisom. New Zealand agrees to 10 switching some of Sanofi-Aventis’ medicines Chattem will become the US consumer switch oral famciclovir from prescription to OTC status in the US, said healthcare division of Sanofi-Aventis. It will Germany plans to restrict 11 Viehbacher,adding that the company was seek- continue to be led by the current management, pack sizes for analgesics ing to switch the allergy medicine Allegra (fexo- and its headquarters will remain in Chatta- Germany completes 13 fenadine hydrochloride). nooga, Tennessee. pantoprazole switch According to Sanofi-Aventis, the acquisition The French pharmaceutical firm’s OTC busi- MARKETING NEWS 14 would make it the world’s fifth-largest consum- ness, which is expected to record sales of C1.4 er healthcare company with sales of approxi- billion in 2009, does not have a direct presence Austria gives OTC status 14 mately C1.7 billion. Sanofi-Aventis is current- in the US. Its main markets include Australia, to emergency contraception ly ranked number six. Brazil, France, Italy,Mexico and Russia. DEcarb grows Goldshield’s 15 Sanofi-Aventis said the price represented 4.8- ■ Continued on page 22 weight-loss portfolio in UK German court controls 18 use of the suffix ‘akut’ FEATURES 20 Europe scrutinises topical ketoprofen Sanofi-Aventis reshapes 20 oncerns over serious photosensitivity reac- scription status in a number of European coun- its OTC business Ctions have prompted Europe’s Committee tries including Austria, Belgium, Denmark, for Medicinal Products for Human Use (CHMP) Germany, Spain, Sweden and the UK. REGULARS to start a safety review of topical medicines con- The CHMP’s safety review was triggered taining ketoprofen. by France under Article 107 of European Dir- Consumer viewpoint 12 The CHMP said it would assess the bene- ective 2001/83/EC as amended. – Mouth ulcers is this month’s topic fit-risk balance of these medicines, and rec- The French medicines agency, AFSSAPS, Pharmacy viewpoint 16 ommend whether their marketing authorisa- has suspended the marketing authorisations of – Pharmacists rate NiQuitin and Benylin tions should be maintained, changed, suspend- all topical ketoprofen medicines in France with Events – Our regular listing 19 ed or revoked. effect from 12 January 2010. They have pre- People – Sanofi recruits Regenauer 22 Topical ketoprofen medicines have non-pre- scription-only status in France. OTC20-01-10p2-3FIN.qxd 15/1/10 12:44 Page 2 OTC COMPANY NEWS Mergers & Acquisitions Licensing Agreements Teva takes on GlaxoSmithKline strikes Japan’s Taisho cold-sore deal in the US eva has acquired a majority stake in Japan- Tese generics player Taisho Pharmaceutical laxoSmithKline has struck a deal that will will develop,”added the company, noting that Industries through its local Teva-Towa Pharma Ggive it access to the “next advance in the NB-001 had demonstrated “potent antiviral act- joint venture. A definitive agreement saw Teva- treatment of cold sores” in the US and Canada. ivity in vitro” against strains that had shown Towa gain at least 66.7% of Taisho’s outstand- The company, which already markets the resistance to other antiviral agents including ing shares for an undisclosed fee. Abreva OTCcold-sore medicine in the US, has aciclovir and foscarnet. Taisho – which is separate from Japan’s reached an exclusive licensing agreement with The privately-owned biopharmaceutical com- leading OTC player of a similar name – has NanoBio Corporation for OTC use of NB-001. pany has completed two Phase 2 clinical trials annual sales of around ¥12 billion (C90 mil- GlaxoSmithKline said that the patented com- for NB-001 and plans to start Phase 3 testing lion) and employs almost 400 people. Accord- pound provided “significant antimicrobial act- in the near future. ing to Teva,it is Japan’s seventh-largest gener- ivity against the virus that causes cold sores”. According to NanoBio, NB-001 would “ra- ics manufacturer. Under the terms of the agreement, Glaxo- pidly capture market share from all prescrip- Privately-owned Taisho manufactures a port- SmithKline will make an upfront payment of tion and OTCcurrent therapies, as well as dra- folio of 120 generic molecules in more than 200 US$14.5 million (C10.1 million) to NanoBio. matically expand the market” by offering un- presentations which it markets to pharmacies, It has also agreed additional milestone pay- treated sufferers a viable treatment option. clinics, hospitals and wholesalers through a ments of up to US$40 million plus single-digit GlaxoSmithKline’s Abreva cream – based well-established salesforce. The Japanese firm royalties on future sales. on the active ingredient docosanol – is the only expanded its finished-dosage manufacturing Roger Scarlett-Smith, GlaxoSmithKline Con- non-prescription cold-sore medicine that is ap- facility in 2006, a year after it built a research sumer Healthcare’s North American president, proved by the US Food and Drug Administra- and development centre. said the deal built on the company’s leadership tion (FDA) to shorten healing time and the dura- Commenting on the transaction, Teva’s pres- position in the cold-sore category. “With Ab- tion of symptoms. The company pointed out ident and chief executive officer Shlomo Yanai reva,” he commented, “we have a very effec- that Abreva was the leading cold-sore treatment said it would “serve as a springboard for Teva- tive cold-sore treatment in the category and in the US with a market share of over 50%. Kowa’s operations in Japan”. “Taisho will bring look forward to building on that platform with NanoBio’s chief executive officer and found- invaluable local expertise and know-how to the new technology from NanoBio.” er James Baker,said GlaxoSmithKline’s “lead- support our growth plan in Japan,”he insisted. NanoBio pointed out that NB-001 physical- ership in developing and marketing consumer Teva created a joint venture with Japanese ly killed the virus on contact. “This rapid phys- healthcare products including the leading prod- pharmaceuticals company Kowa in September ical mode of action significantly reduces the uct for treating herpes labialis makes it the ideal 2008, with each party taking a 50% stake. Teva- likelihood that resistant herpes virus strains partner for NB-001”. Kowa was expected to achieve sales of US$1 OTC billion (C0.7 billion) by 2015 through lever- aging “the marketing, research and develop- Mergers & Acquisitions ment, manufacturing and distribution capabil- ities of each company to become a broad-based Nutrition 21 sells US retail business supplier of high-quality generic pharmaceuti- cal products for the Japanese market”. utrition 21 has sold its retail and direct- nations of chromium compounds with other OTC N selling businesses to contract manufactur- dietary supplement ingredients. er Nature’s Products to help pay its debts. Nutrition 21 said in October of last year that IN BRIEF Nature’s Products is paying US$3.2 million it had signed a non-binding letter of intent to ( C 2.2 million) plus the assumption of designated sell its retail and direct-selling business to an ■ DERMA SCIENCES has signed a three- liabilities for the US-based businesses. The unnamed private company to help repay its year contract worth approximately US$15 mil- company has also agreed to buy ingredients debts, after the firm’s sales and profits were lion (C10 million) to supply an unnamed global from Nutrition 21. hit by the global economic downturn (OTC healthcare company with finger bandages. Nutrition 21 said it would use approximately bulletin,30 October 2009, page 10). US$2.7 million of the proceeds to repay in full The company was also delisted from the ■ ALLIANCE PHARMA – the UK-based the notes that it issued in August 2006. NASDAQ stock exchange after its share price company that markets the Forceval multimin- Commenting on the sale, Michael Zeher, dropped to below US$1.00. eral-multivitamin brand and Pavacol-D cough president and chief executive officer of Nutri- For the year ended 30 June 2009, Nutrition suppressant – said trading during the last few tion 21, said the deal allowed the company to 21 reported an operating loss of US$17.4 mil- months of 2009 had remained strong and as a focus its “limited financial resources” on its lion, after it cut the goodwill valuations of its result the company expected to report sales profitable ingredients business. It has also re- assets by US$17.5 million. Sales fell by 16% up by 42% to £31 million (C35 million) for the tained its patent portfolio, which includes more to US$39.6 million, as retail and mail order full year to the end of December.
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