Valeant Settles with Galderma, Lilly Partners with Strides Arcolab: Healthcare Business Update
Valeant Pharmaceuticals International (NYSE:VRX) announced in a Wednesday release that it has reached terms of a revised North American aesthetics agreement with Galderma, through which the latter will continue to supply Restylane and Perlane to Valeant, under the same terms and conditions that Galderma currently supplies the products to Medicis Pharmaceutical Corporation (NYSE:MRX). Additionally, Valeant will make an upfront payment and a royalty to Galderma on sales of Sculptra, and, this agreement provides for the settlement of all claims asserted in Galderma’s pending litigation in regards to Valeant’s purchase of Medicis.
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Eli Lilly and Company (NYSE:LLY) and Strides Arcolab of India are partnering in the joint manufacture and distribution of generic cancer drugs for emerging markets, as Lilly moves to expand its presence in developing markets. This current venture is the most recent in a series of arrangements between the ‘Big Pharma’ firms wanting greater access to high-growth emerging markets, and Indian companies that need global expertise.
Tranzyme Pharma (NASDAQ:TZYM), announced Wednesday that Vice President, Finance and Chief Financial Officer Richard I. Eisenstadt will step down effective January 4th, to follow a new career opportunity. Eisenstadt joined the company in 2003, and will be replaced in part by Tranzyme’s Controller, Rhonda L. Stanley, who will perform the duties of principal financial officer and principal accounting officer for the firm.
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