Business

After having its first offer rejected by ISTA Pharmaceuticals, and after ISTA indicated that an increased offer was still insufficient, Valeant Pharmaceuticals has withdrawn its offer of $7.50 per share a day before its announced deadline of January 31, 2012. ISTA has several bepotastine nasal sprays in development for the treatment of allergic rhinitis. Valeant … [Read more...] about Valeant withdraws offer for ISTA

A company called Rapid Fire Marketing says that its subsidiary Medical Cannabis Management is launching a tetrahydrocannabinol (THC) e-cigarette in the US immediately and will follow with a second-generation device in 30-60 days. The device, called the CannaCig, is designed to deliver THC "in an oil form," according to the company, and will be sold through physicians … [Read more...] about Company to launch THC e-cigarette in US

Spanish pharmaceutical company Almirall and Belgian biotech Galapagos have entered into a three-year agreement "aimed at delivering drug development candidates directed to a key respiratory target of interest to Almirall." According to the companies, the deal could be worth €7.5 million to Galapagos subsidiary BioFocus, which will be doing the research. Almirall's … [Read more...] about Almirall and Galapagos partner to find new respiratory drug candidates

Aptar Pharma has opened a new manufacturing facility in Rabale, Navi Mumbai, India, where it will produce the DF30 metering valve for pressurized metered dose inhalers (MDIs) and spray pump assemblies for nasal spray delivery. The site was officially declared open on January 21, 2012 with a ceremony attended by the president of the Indian Pharmaceutical Association … [Read more...] about Aptar opens new nasal/pulmonary device manufacturing facility in India

Takeda Pharmaceutical has announced that it will lay off approximately 2,800 employees -- 2,100 in Europe and 700 in the US -- as it realigns to accommodate its 2011 acquisition of Nycomed. Nycomed's products include Alvesco ciclesonide MDI, Omnaris ciclesonide nasal spray, Zymelin/Xymelin xylometazoline nasal spray, and Instanyl intranasal fentanyl; in addition, an … [Read more...] about Takeda to lay off 2,800 as it integrates Nycomed

After the rejection of its last offer in December, Valeant Pharmaceuticals says that it has increased its offer for ISTA to $7.50 per share from $6.50 and adds that it has informed ISTA that the price could rise to $8.50 per share "assuming that ISTA provides it selected confirmatory due diligence related to the company that is consistent with what Valeant expects to … [Read more...] about Valeant increases offer for ISTA

A new report available from BCC Research projects a compound annual growth rate (CAGR) of 14.3% for the respiratory drug delivery technologies market, meaning that the global market would approximately double to $44 billion by 2016. According to the report, the market, including MDIs, DPIs, and other devices, was $19.6 billion in 2010 would be about $22.5 billion for … [Read more...] about Respiratory drug delivery market projected to reach $44 billion by 2016

According to an interim management statement released by Vectura, the company anticipates a cut R&D expenditures by £1m for the fiscal year ending March 31 2012 and expects additional cuts for FY2013. The company said, "We continue to pay close attention to R&D expenditure to ensure appropriate investment is placed behind key assets, including device and product … [Read more...] about Vectura anticipates continued cuts in R&D expenditures

Fleming Pharmaceuticals says that it sold the rights to its Ocean brand saline nasal products, along with three other products, to Valeant, which will distribute the product through Valeant Pharmaceuticals North America LLC. Ocean nasal sprays, irrigator, gel, and mist are available over the counter in the US. The company, which provides contract manufacturing of … [Read more...] about Fleming sells Ocean saline nasal spray to Valeant