PolyMedica catches Medco's eye; agrees to $1.5bn merger:
This article was originally published in Clinica
Executive Summary
Shares in the mail-order diabetes supplies and services provider PolyMedica have been riding high in the last week, after the Wakefield, Massachusetts firm said it was to be bought by pharmacy benefit manager Medco Health Solutions for $53 per share. This gives the transaction a total value of $1.5bn. Franklin Lakes, New Jersey-based Medco is hoping the addition of PolyMedica's operations - which generated revenues of $675.5m and profits of $33.7m in fiscal 2007 - will enable it to better capitalise on the fast-growing $25bn diabetes care market. The transaction, slated to close in 2007, is expected to be slightly accretive to Medco's earnings in 2008.
You may also be interested in...
Colorado Price Cap Plan For Enbrel Draws Amgen Lawsuit; Cosentyx, Stelara ‘Affordability’ Reviews Pending
However, the state's recently formed prescription drug affordability board found Gilead’s Genvoya and Vertex’s Trikafta to be affordable.
Biden Administration Is Setting An Example For Safe AI Use In Federal Organizations
A new memorandum by the Director of the Office of Management and Budget initiated a government-wide policy that will appoint AI officers to all agencies to address risks for AI use and serve as an example for greater AI adoption.
US FDA Drugs Center Ready To Break Down Silos On Regulatory Innovation
CDER Director Cavazzoni is promising to increase coordination and collaboration to accelerate broader adoption of innovative clinical trial designs and other approaches to speed drug development. A new "Quantitative Medicine Center of Excellence" illustrates the approach.