Good morning, everyone, and how are you today? We are doing just fine, thank you, courtesy of a warm, shiny sun and cool breeze wafting through the unusually quiet Pharmalot campus. Our Pharmalittles, you see, are sleeping in. Of course, a cup or two of stimulation also helps steady the nerves. Our choice today is almond toffee, for those who track such things. So, time to get cracking. On that note, here are some tidbits to help you along. Hope your day goes well and you conquer the world …
Mylan (MYL) is evaluating “a wide range of alternatives” because it believes the public markets undervalue the company, although no timetable was given for any action. In explaining its decision, the company noted its international business, which is expected to continue growing, now represents more than 60 percent of global sales. By contrast, there are “negative trends and dynamics” in the U.S. market, which Mylan believes are “unsustainable for the health care system over the long-term.” The drug maker missed second quarter financial targets and cut 2018 guidance.
The Food and Drug Administration announced the first approval of a generic drug under the Competitive Generic Therapy designation, which was created last year to speed development and review of a generic for products that lack competition. The approval was granted to Apotex for several strengths of potassium chloride oral solution, which is used to treat and prevent low potassium blood levels in people who are on diuretics. Companies granted the designation are eligible for a 180-day period of marketing exclusivity if their drug is the first approved.
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To hark back ‘half a century’ (plus 1) to “the summer of love,” the GW Pharma offering at that price would have garnered the comment – “D$%n, that must be REALLY good s!*t!”