Company news from the May 20 MM&M News Brief
AaiPharma has filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code.The filing will enable the company to continue "normal business operations," during restructuring proceedings, the company said in a statement.
Cephalon said it has agreed to buy privately held drug company Salmedix for $160 million in cash to purchase its non-Hodgkin's lymphoma drug Treanda. Cephalon said it would be required to pay additional $40 million in cash upon the achievement of certain regulatory milestones.
Indevus Pharmaceuticals has agreed to consent to the acquisition by Saturn Pharmaceuticals of rights to market the overactive bladder treatment Sanctura from Odyssey Pharmaceuticals.
Integrated Communications Corporation has formed Trio Communications, a new full-service medical advertising agency. Located a few miles from the parent shop in Parsippany, N.J., Trio will be led by Brian Zorn, as general manager, as well as by co-creative directors, Tom Clark, and Scott Thompson. Trio is starting out with two clients, Ferring Pharmaceuticals and Schering-Plough. Trio will handle the Ferring fertility franchise, including Bravelle and the launch of Menopur, as well as the launch of Nuflexxa. The Ferring business represents a new business win for Integrated and was a result of showcasing what Trio was all about. For Schering-Plough, Trio is handling the professional promotion for the Claritin brand.