ChronicleMIDWEEK
From the publishers of THE CHRONICLE OF CANCER THERAPY, THE CHRONICLE OF CARDIOVASCULAR & INTERNAL MEDICINE, THE CHRONICLE OF NEUROLOGY & PSYCHIATY, THE CHRONICLE OF SKIN & ALLERGY, THE CHRONICLE OF UROLOGY & SEXUAL MEDICINE, PHYSICIANS’ CHRONICLE, THE CHRONICLE OF HEALTHCARE MARKETING, LINACRE’S BOOKS, and chronicl*e group
BMS OFFERS LONG-AWAITED ANNOUNCEMENT
BRISTOL-MYERS SQUIBB thinks it knows what will appeal to investors: (1) Don’t call yourself a drug company; (2) Promise them you’re going to make more money; and (3) Fire 10 per cent of your worldwide staff and close half your factories. Delivering the skinny on its new operational direction this morning (12/05), BMS boss James Cornelius insisted he runs “a next-generation BioPharma company,” since that sounds a little different from being a drugmaker, which Wall Street hates. He raised the dividend, increased his earnings guidance, promised $1.5 billion in savings by 2010, and pledged to dump 60 per cent of the company’s mature product line by 2011. Not available at press time was the company’s plan for its Montreal plant, which had been rumored to be on the list of potential closures. More info =>
GOING POSTAL: DRUGMAKERS WANT TO PUT THEIR STAMP ON INDIAN OTC RETAILIING
YOU BUY YOUR POSTAGE STAMPS at the drugstore, so why shouldn’t you be able to pick up your drugs at the post office? That’s the question on everyone’s lips in India, where policy-makers are considering the introduction of a pilot program to sell OTC Txs through the country’s 150,000 post offices. Mr. Ranjit Shahani, prexy of the Organization of Pharmaceutical Producers of India, tells The Times of India that India’s postal workers maintain good relationships with consumers, along with some education. Why, they’re practically pharmacists already — or, they would be if they stocked cosmetics. More info =>
DETAILERS DON’T GET TO SEE THE DOCTOR 75 PER CENT OF THE TIME: REPORT
MAN, IT’S TOUGH BEING A DRUG REP these days. Leerink Swann, a Boston investment house specializing in the life sciences, recently issued a report that says three out of four details currently end with the bag-carrier not getting a face-to-face meeting with the doc. For the lucky rep who beats the odds and avoids having a door slammed in her punim, the reward is… 240 whole seconds with the healer. Merck has been timing the length of details, and mined a real interesting factoid: medicos will kick a rep out after an average of four minutes, but will spend 10 minutes watching a presentation on-line. Bruce Grant, who sells interactive detailing services, tells Associated Press: “Doctors are just doing the same thing you and I are as consumers.” Now, how did he know what we happen to be doing right now? More info=>
GSK OFFERS CONSOLATION PRIZE TO RUNERS-UP IN CEO SWEEPSTAKES
“THERE, THERE, LADS. Steady on, then. Let’s keep those chins up, shall we? Stiff upper… ah, well, you chaps know the rest…” GlaxoSmithKline this week determined just the right words to use in order to entice Chris Viehbacher and David Stout to keep punching the clock, after being passed over for the company’s corner-office job by Andrew Witty, a couple of months ago. Viehbacher and Stout will receive appointments to the GSK board, and a little something extra in their tip-jars. How does Cdn$4 million sound? That’s what the runners-up will receive in stock bonuses and cash, as GSK’s special way of saying, “Second-place is just another way to say ‘loser,’ but let’s keep you lot somewhere where we can keep an eye on you, right?” More info =>
SHERMAN ADVANCING ON EUROPE: APOTEX TAKES OVER SPAIN’S LAREQ PHARMA
APOTEX OWNER BARRY “SUDSY” SHERMAN’S recent interest in the beer business (see ChroMo passim) hasn’t interrupted the expansion of his generic pharmaceutical empire. This week he acquired Spain’s Lareq Pharma, a 23-year-old maker of knock-offs that ranks number 13 in that country’s list of clone-makers. Apo recently bought Topgen, a Belgian outfit. Says Andrew Kay, who oversee’s Apo’s international adventures: “The acquisitions in Belgium and Spain, as well as our new affiliate in Turkey, are clear signals of our commitment to growth outside Canada and the US.” More info =>
US FDA ISSUES WARNING ON DESMOPRESSIN, BED-WETTING TX
STATESIDE REGULATORS yesterday (12/04) said nocturnal enuresis Tx desmopressin (DDAVP, Ferring) could lead to hyponatremia in some patients, a potentially fatal condition. The feds have received 61 reports of seizures associated with desmopressin use, including two fatalities. However, the G-men noted, “the direct contribution of desmopressin to the deaths is unclear.” More info =>
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