Barr Pharmaceuticals has increased its offer for Pliva to $2.3 billion in cash. Under terms of the proposal announced Thursday, Pliva shareholders who tender shares would receive $25.73 per share. Croatia-based Pliva, which operates in 30 countries, makes generic drugs.
has increased its offer for Pliva to $2.3 billion in cash. Under terms of the proposal announced Thursday, Pliva shareholders who tender shares would receive $25.73 per share. Croatia-based Pliva, which operates in 30 countries, makes generic drugs.
Woodcliff, New Jersey-based Barr Pharmaceuticals is a holding company that operates through subsidiaries Barr Laboratories and Duramed Pharmaceuticals. Barr develops, manufactures, and markets generic and proprietary drugs.
Shares of Barr rose $0.46 to $48.31 in recent trading.
Cephalon Closer to Approval
Cephalon moved a step closer to approval from the U.S. Food and Drug Administration for Fentora, saying it has received an approvable letter from the federal agency for its drug used to treat pain in cancer patients.
The company said it will continue to work closely with the FDA to secure final approval of the drug. Cephalon shares increased $5.87 to $60.13 in recent trading.
"We believe Fentora will extend the leadership position of Cephalon in the development of innovative medications for the management of breakthrough pain in patients with cancer," Dr. Paul Blake, executive vice president of its worldwide medical and regulatory operations, said in a statement.
Ketek Gets a Warning Label
Sanofi-Aventis said that U.S. prescription information for its drug Ketek will soon include possible adverse effects of the drug and a bolded warning. Bridgewater, New Jersey-based Sanofi-Aventis said the decision was made after discussions with the FDA.
“Based on the in-depth review of the clinical trial and post-marketing data, we continue to believe that the benefits of Ketek outweigh the risks when the drug is used as directed for its approved indications,” Sol Rajfer, president of science and medical affairs at Sanofi-Aventis in the United States, said in a statement.
Sanofi-Aventis shares rose $0.60 to $48.77 in recent trading.
Contact the writer: SMartin@RedHerring.com