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Five Star to sell pharmacy business for $30.7M

Posted: Published on July 9th, 2012

NEWTON, Mass. (AP) -- Five Star Quality Care Inc. said Monday that it reached a deal to sell its pharmacy business to pharmaceutical services provider Omnicare Inc. for $30.7 million. The Newton, Mass.-based nursing home and assisted-living facility operator said it expects the sale to result in a capital gain of about $23.5 million. The news sent Five Star shares up 7 percent in afternoon trading. The business includes eight licensed pharmacies operating in 13 states that provide institutional pharmacy services to 247 senior living communities with about 12,300 units, Five Star said. In addition to the $30.7 million in proceeds, Five Star will sell to Omnicare, or retain, working capital invested in the pharmacy business equal to about $9.4 million, the company said. The company therefore expects its net cash receipts from the sale to be about $39.9 million. Five Star said the sale, which is subject to customary closing conditions, is expected to close by the end of the year. Five Star shares rose 33 cents, or 10.1 percent, to $3.59 in afternoon trading, after peaking at $3.54 earlier in the day. Over the past 52 weeks, the company's shares have traded between $2.15 and $6.15. Read this … Continue reading →

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Pharmacy Burglar Drops in From Roof

Posted: Published on July 9th, 2012

NBC 5 Burglars have hit White Rock Pharmacy three times in four months this time breaking in through the ceiling and stealing pain medications. The owner of White Rock Pharmacy in Dallas patched up his roof and cleaned up the mess left behind after an early morning burglary on Monday. The burglary was caught on surveillance cameras. In the video, one man can be seen lowering himself down through the hole. Another person who can't be seen on tape hands him a bag. In less than five minutes, the burglar goes through the pharmacy, taking mainly painkillers, including hydrocodone. The burglar is seen trying to climb out of the hole, first using a stool and later using a fax machine stand to climb out and run off before police get to the pharmacy. Thomas Adimula, who has owned the pharmacy for about six months, said he already had a break-in in April and an attempted break-in in May. Adimula stopped carrying high-strength painkillers in order to deter burglars from breaking in and even reinforced both entrances. The ceiling was an unexpected route, he said. "I never thought -- as high as this roof is -- I never thought anyone would … Continue reading →

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BioRx Acquires Coagulife Pharmacy

Posted: Published on July 9th, 2012

CINCINNATI--(BUSINESS WIRE)-- BioRx announced today that it has acquired Coagulife Pharmacy, a specialized provider of clotting factor medications and supplies for the treatment of hemophilia and related bleeding disorders. Coagulife is based in Savage, Minnesota. The addition of Coagulife talent and expertise will contribute significantly to our leadership in home hemophilia care, said Phil Rielly, president and co-founder of BioRx. We are excited to grow together in delivering outstanding personalized care to the bleeding disorders community. Coagulife was founded in 2004 by brothers Jeff and Daniel Kallberg. Jeff lives with hemophilia and speaks nationally about the importance of physical activity for hemophilia patients. He is also a licensed physical therapist and a black belt in Tae Kwon Do. Weve known Jeff for many years, said Rielly. He is deeply respected in the hemophilia community and the physical therapy profession. He and Daniel have built a successful business that complements our capabilities very well. Combined, both companies will continue to thrive in a highly competitive business environment. Through Kallbergs physical therapy leadership, BioRx expects to deliver value-added services for patients who live with musculoskeletal complications caused by hemophilia. Building on Coagulifes existing health and wellness platform, BioRx will develop a national … Continue reading →

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Millennium Pharmacy Systems Appoints New CEO

Posted: Published on July 9th, 2012

OAK BROOK, Ill., July 9, 2012 /PRNewswire/ --Millennium Pharmacy Systems today announced that Philip J. Keough, IV has been appointed Chief Executive Officer and elected as a member of the Board of Directors of the company, in addition to currently serving as its President. Mr. Keough joined the Company as Chief Operating Officer in November 2010 and continued to take on increasing responsibilities with Millennium - a leading provider of advanced Medication Management and Technology Services to the long-term care industry. Prior to joining Millennium, Mr. Keough held significant management positions with CVS, Rite Aid and several other top organizations. He is also a pharmacist, having earned his pharmacy degree from Auburn University. Richard P. Scardina, Millennium's previous Chief Executive Officer, will continue in an active role with the company as its Chairman of the Board of Directors. On Mr. Keough's appointment, Mr. Scardina said, "Phil has demonstrated outstanding leadership and an intense focus on our customers' experience. He will continue Millennium's commitment to innovation, cost effective medication management, patient safety and drive its growth and unique solutions for long-term care." "I am excited to take on these added leadership responsibilities and further Millennium's mission of improving patient care and … Continue reading →

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New gene transfer strategy shows promise for limb girdle and other muscular dystrophies

Posted: Published on July 9th, 2012

ScienceDaily (July 9, 2012) The challenge of treating patients with genetic disorders in which a single mutated gene is simply too large to be replaced using traditional gene therapy techniques may soon be a thing of the past. A Nationwide Children's Hospital study describes a new gene therapy approach capable of delivering full-length versions of large genes and improving skeletal muscle function. The strategy may hold new hope for treating dysferlinopathies and other muscular dystrophies. A group of untreatable muscle disorders known as dysferlinopathies are caused by mutations in the dysferlin gene. Patients with these disorders, including limb girdle muscular dystrophy type 2B, are typically diagnosed in their early twenties. Approximately one-third will become wheelchair dependent by their mid-30s. Gene therapy using adeno-associated virus (AAV) to deliver genes to cells has been pursued as an option for some patients with muscular dystrophy. However, AAV's packaging limitations have served as obstacles in using gene therapy to deliver large genes like dysferlin. Scientists in the past have attempted to work around AAV's packaging limitations by inserting a small version of large genes into the viral vector to induce gene expression. Some have also used more than one viral vector at a time … Continue reading →

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Toshiba’s Dynamic Volume Perfusion Imaging Improves Patient Care with Faster Stroke Diagnoses at Leading Stroke Center

Posted: Published on July 9th, 2012

TUSTIN, Calif.--(BUSINESS WIRE)-- To expand its stroke care capabilities for fast diagnoses and more accurate treatment, Long Beach Memorial, a primary stroke care center for MemorialCare Health System, is using Toshibas AquilionTM ONE dynamic volume CT system for both acute stroke diagnoses and interventional planning. The Aquilion ONEs whole brain perfusion images and ability to show real-time brain function with greater detail are instrumental in improving stroke diagnoses and planning, said Dr. Nima Ramezan, M.D., MemorialCare Neuroscience Institute, Long Beach Memorial. The Aquilion ONEs whole brain perfusion images enable us to identify viable brain tissue and determine the optimal treatment pathway. We also use the system to assess therapy effectiveness to further guide our decision making for improved patient outcome and the patients recovery process. Toshibas Aquilion ONE CT system covers up to 16 cm of anatomy using 320 ultra-high-resolution, 0.5 mm detector elements (640 unique slices), which can image the entire brain in a single rotation. It also shows an organs dynamic blood flow and real-time function, which are critical in acute stroke care. The faster the clinician can determine the optimal treatment pathway, the better the patients chances for survival and recovery. The Aquilion ONE features dose reduction … Continue reading →

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ACADIA Pharmaceuticals Reports Promising Effects of Pimavanserin in Preclinical Model of Alzheimer’s Disease Psychosis

Posted: Published on July 9th, 2012

SAN DIEGO--(BUSINESS WIRE)-- ACADIA Pharmaceuticals Inc. (ACAD), a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders, today announced results of preclinical studies, which suggest that pimavanserin, ACADIAs proprietary product candidate currently in Phase III development for Parkinsons disease psychosis, also may have therapeutic benefits in the treatment of Alzheimers disease psychosis (ADP). Results of these studies were published in the scientific journal, Behavioural Pharmacology (Price et al., Pimavanserin, a 5-HT2A Receptor Inverse Agonist, Reverses Psychosis-like Behaviors in a Rodent Model of Alzheimers Disease, July 2012 e-pub). ACADIA scientists reported results of experiments using mice that had received intracerebroventricular (ICV) infusion of an amyloid peptide fragment and developed Alzheimers disease-like pathology. These animals developed psychosis-like behaviors with enhanced responses to the psychostimulants DOI and amphetamine as well as disrupted prepulse inhibition. Treatment with pimavanserin prevented DOI-induced responses, reversed the augmented responses to amphetamine, and normalized prepulse inhibition in animals with amyloid pathology. These findings suggest that 5-HT2A antagonists/inverse agonists, such as pimavanserin, may be effective in the treatment of patients with ADP. ADP represents a major unmet medical need with no proven safe and effective therapy, said Uli Hacksell, Ph.D., … Continue reading →

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Titan Completes Preclinical Study of a Continuous, Dopamine Agonist Treatment for Parkinson's Disease

Posted: Published on July 9th, 2012

SOUTH SAN FRANCISCO, CA--(Marketwire -07/09/12)- Titan Pharmaceuticals, Inc. (TTNP) today announced that it has successfully completed investigation into the feasibility of a long-term, round-the-clock, non-fluctuating dopamine agonist treatment for Parkinson's disease. The preclinical study was primarily funded by a $495,000 grant awarded to Titan by the National Institutes of Health (NIH) under the Small Business Innovation Research (SBIR) program, and administered by the National Institute of Neurological Disorders and Stroke (NINDS). Parkinson's disease (PD) is a progressive disorder associated with a loss of dopamine producing neurons in the brain. There are more than 1.5 million PD patients in the U.S., with about 50,000 new patients diagnosed each year. The cornerstone of symptomatic treatment for PD is dopamine replacement therapy, and dopamine agonists (DA) such as ropinirole, pramipexole, apomorphine, and lisuride play a key part in the treatment of early as well as advanced stages of the disease. There is increasing evidence that maintaining continuous and stable blood levels of the dopamine agonists may minimize the motor fluctuations and dyskinesias (involuntary movements) that are a debilitating side effect of the frequent oral administration of current dopamine replacement therapies. This preclinical study included in-vitro characterization of implant formulations of two dopamine agonists … Continue reading →

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Gene flaw link to MS drug failure

Posted: Published on July 9th, 2012

9 July 2012 Last updated at 02:37 ET Scientists have identified why a once-promising class of drugs do not help people with multiple sclerosis. An Oxford University team say a genetic variant linked to MS means the drugs which work for patients with other autoimmune diseases will not work for them. The team, writing in Nature, say the drugs can actually make symptoms worse. Experts say the work shows how a person's genetic make-up could affect how they responded to treatment. The drugs, called anti-TNFs, work for patients with rheumatoid arthritis and inflammatory bowel disease, but they have not done so for patients with MS and researchers were unsure why. The Oxford University team looked at one particular genetic variant, found in a gene called TNFRSF1A, which has previously been associated with the risk of developing MS. The normal, long version of the protein sits on the surface of cells and binds the TNF signalling molecule, which is important for a number of processes in the body. But the team discovered the variant caused the production of an altered, shortened version which "mops up" TNF, preventing it from triggering signals - essentially the same thing that TNF blocking drugs do. … Continue reading →

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Questions and answers about menopause and women's health

Posted: Published on July 9th, 2012

By Jane Weaver, Deputy health editor When the government-funded Womens Health Initiative study was abruptly halted in 2002, the impact was huge, swift and charged with emotion. Until the first results were released from the groundbreaking research, most doctors and older women believed that taking hormone replacement pills would protect their hearts and keep them young,healthy and hot flash-free. Courtesy of Dr. Vivian Pinn Instead the hormone drugs -- to the surprise of researchers at the National Institutes of Health who had founded the study -- were shown to cause a small, but significant increase in the risk of breast cancer. Thousands of women participating in the study were instructed to stop taking the drugs, a combination of estrogen and progestin, and contact their doctors. The findings affected millions of American women taking hormone therapy. Few doctors had clear answers for their menopausal patientsbecause the medical community itself had been caught off guard by the results. There was plenty of frustration (Will my hot flashes return?), confusion (Was taking estrogen alone safe?) and fear (Am I at risk of heart attack, breast cancer or stroke?). When the Womens Health Initiative started in 1991, the 15-year randomized clinical trial was one … Continue reading →

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