Specialty Pharmacy

WOONSOCKET, R.I. — Despite a difficult economy and rising health costs, the benefits of an integrated pharmacy service were evident as CVS Caremark helped its pharmacy benefit manager clients — employers, health plans and third-party administrators — manage pharmacy costs, according to the company's annual "Insights Report."

WOONSOCKET, R.I. — CVS Caremark has unveiled a new medical benefit drug management service for its pharmacy benefit manager and specialty pharmacy clients.

FRAZER, Pa. — Cephalon has lodged a bidder’s statement to acquire Australian drug maker ChemGenex Pharmaceuticals for $167 million, Cephalon said Wednesday.

Cephalon, which said its offer of 70 Australian cents per share represented a premium of nearly 60% over ChemGenex’s stock price as of March 29, said the Australian company’s directors had unanimously recommended approval of the acquisition. ChemGenex specializes in developing treatments for cancer.

NEW YORK — A Food and Drug Administration expert panel has given a favorable vote to a drug made by Pfizer for tumors, Pfizer said Tuesday.

The FDA’s Oncologic Drugs Advisory Committee voted 8-2 that Sutent’s (sunitinib malate) benefits outweigh its risks in the treatment of unresectable pancreatic neuroendocrine tumors.

While the FDA is not bound by advisory committee votes, it takes them into consideration when deciding whether or not to approve a drug.

LINCOLNSHIRE, Ill. — The Food and Drug Administration has accepted a regulatory approval application for a topical treatment for low testosterone made by Teva Pharmaceuticals and BioSante Pharmaceuticals, BioSante said Wednesday.

The two companies said the FDA had accepted their application for Bio-T-Gel and expected to complete its review by mid-November.

NEW YORK — After decades of failed comeback initiatives following the exit of General Motors, it looks like Flint, Mich., may be poised for a revival, according to published reports.

In a slideshow presentation on its website titled “11 Comeback Cities for 2011,” Kiplinger magazine ranked Flint at No. 7, thanks in large part to Diplomat Specialty Pharmacy’s decision to move its headquarters to the city.

MIAMI — The utilization of specialty pharmacy is projected to steadily increase, Walgreens VP clinical affairs David Lorber told attendees Tuesday at the Pinsonault Associates Managed Markets Summit, which accentuates a need to augment patient compliance and help payers get a handle on what have become rapidly shifting economics.

WHITEHOUSE STATION, N.J. — The Food and Drug Administration has approved a treatment made by Merck for treating skin cancer, Merck said Monday.

Merck announced the approval of Sylatron (peginterferon alfa-2b) as an add-on treatment for treating melanoma with microscopic of gross nodal involvement within 84 days of surgery.