Bergen Brunswig Corporation
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Latest From Bergen Brunswig Corporation
Teva says it isn't worried about the more aggressive pricing strategies used by brand companies to blunt blockbuster generic launches. What if the world's largest generic company is wrong? Part II of this two-part series looks at the future of the generic drug industry.
In Vivo presents another installment of our quarterly review of dealmaking--in this case February 2001-May 2001. Our data comes from Windhover's Strategic Transactions Database. We include medical device financings by industry segment and by deal type; medical device M&A; diagnostic financings and alliances by product category; pharma and biotech alliances by technology segment; pharma and biotech alliances by deal type, and pharma and biotech financings by market segment and therapeutic category.
DIRECT, the first placebo-controlled trial of a laser myocardial revascularization technology, did not prove any benefit from the therapy, an announcement that has stirred a hornet's nest of controversy in the TMR/PMR industry. Laser companies and physicians who perform the procedures have been in damage control mode since the announcement. The event has exacerbated the challenges that laser companies were already facing in the early adoption phase of a new treatment paradigm. PLC Systems and Eclipse Surgical feel confident that their technologies are sufficiently different from that used in the DIRECT trial and are striving to reassure physicians, patients and investors. In its efforts to convince skeptical physicians or those put off by the DIRECT results, PLC is banking on its perfusion data and its positive 5-year results for its surgical TMR approach. Eclipse hopes positive results from its clinical trial will help it get approval for the first interventional approach.
Bergen Brunswig Corp's recent announcement that it would sell the specialty pharmacy assets of its Stadtlander Drug Co. subsidiary hardly comes as a surprise. Stadtlander has performed poorly since it was acquired from Counsel Corp. eighteen months ago. Stadtlander is not alone: two other Bergen subsidiaries, PharMerica (which distributes drugs to long-term care facilities) and Bergen Brunswig Medical Corp., a supply business (which is also being sold), have also disappointed.If Bergen's expectations for Stadtlander were not met, say company officials, it was because Counsel's management misled them with respect to the specialty pharmacy's value. Indeed, Bergen sued Counsel, alleging that it was fraudulently induced into paying the price that it did for Stadtlander. That case is pending.So far, investors and analysts have reacted favorably to the Stadtlander sale. In addition to reducing Bergen's debt and eliminating a drag on earnings, parting with Stadtlander is seen as a way for Bergen to refocus its attentions on its core drug distribution business.
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