Industry News

  • ContraVir Pharmaceuticals, Inc., a biopharmaceutical company, announced that the company was awarded a $297,875 CAD research grant from the National Research Council in Canada through the Council's Industrial Research Assistance Program (IRAP). Proceeds from the grant will fund a substantial portion of personnel expenses, including the hiring of additional laboratory staff, which is expected to advance preclinical development of ContraVir's potent cyclophilin inhibitor CRV431 for the Treatment of Hepatitis B (HBV).

  • Axsome Therapeutics, Inc.  announced that its Investigational New Drug Application (IND) for AXS-05 in the treatment of agitation in patients with Alzheimer’s disease (AD) has been cleared by the U.S. Food and Drug Administration (FDA). The IND clearance permits Axsome to proceed with its planned Phase 2/3 clinical trial of AXS-05 in this indication. Axsome anticipates commencing this trial in the first half of 2017.

  • Prima BioMed Ltd announces that it has developed a new early stage product candidate, a humanised IgG4 monoclonal antibody to be known as IMP761. This antibody, developed at the Company’s laboratory in Châtenay-Malabry south of Paris, is believed to be the first agonist antibody of LAG-3.

  • The mechanical resistance of tumors and collateral damage of standard treatments often hinder efforts to defeat cancers. However, a team of researchers from the CNRS, the French National Institute of Health and Medical Research (INSERM), Paris Descartes University, and Paris Diderot University has successfully softened malignant tumors by heating them. This method, called nanohyperthermia, makes the tumors more vulnerable to therapeutic agents.

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  • Abbott announced it intends to close the acquisition of St. Jude Medical, Inc., The announcement follows receipt of all regulatory clearances necessary for closing

    The transaction establishes Abbott as a leader in the medical device arena and provides expanded opportunities for future growth. The addition of St. Jude Medical is an important part of the company's ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.

  • Sanofi and its vaccines global business unit Sanofi Pasteur confirmed today the end of their vaccine joint-venture with MSD (known as Merck & Co. Inc., in the United States and Canada), Sanofi Pasteur MSD (SPMSD). Sanofi Pasteur and MSD will separately pursue their own vaccine strategies in Europe, integrating their respective European vaccines business into their operations. The change in operations took effect January 1, 2017.

  • McKesson Corporation, a leading international healthcare services and information technology company, announced that it has completed the previously announced acquisition of Rexall Health for 2.9 billion CAD (2.1 billion USD, or approximately 1.7 billion USD, net of certain estimated purchase price adjustments, proceeds from store divestitures, and tax benefits). This follows the agreement reached with the Competition Bureau of Canada for the acquisition of Rexall Health and approval received under the Investment Canada Act

    As part of the transaction, McKesson has acquired approximately 470 retail pharmacies, and has agreed to divest stores in 26 local markets that the Competition Bureau of Canada identified during its review of the transaction.

    McKesson also announced that Domenic Pilla has been appointed CEO of McKesson Canada, effective January 3, 2017. Pilla will report to Paul C. Julian, executive vice president and group president, McKesson Corporation, and assume overall leadership responsibility for McKesson’s distribution and retail businesses in Canada, including Rexall Health. Jürgen Schreiber, currently CEO of Rexall Health, will leave to pursue other opportunities.

    “Today’s announcement marks a milestone for McKesson and Rexall Health. With complementary assets, industry expertise, and shared values, we will now serve our customers with enhanced retail pharmacy capabilities and a broader reach across Canada,” said John H. Hammergren, chairman and chief executive officer, McKesson Corporation. “Patients across Canada will benefit from best-in-class pharmacy care through innovative care solutions and an expanded retail footprint. We are thankful to Daryl Katz, founder and chairman of Katz Group, one of Canada’s largest privately-owned enterprises, for having built such a strong pharmacy asset in the Canadian market.”


    With Rexall Health, McKesson will be able to serve a broad range of pharmaceutical care and ensure choice to consumers at a time when Canadians are increasingly turning to pharmacies for their healthcare advice and services.

    “Together, McKesson and Rexall can leverage shared expertise to grow and deliver better care and value to Canadians,” said Julian. “McKesson has a strong track record of delivering leading service levels to customers and patients.”


    “Domenic Pilla is uniquely qualified to lead our expanded portfolio in Canada based on his previous experience as president of Shoppers Drug Mart and McKesson Canada,” Julian continued. “He brings deep knowledge of both the wholesale and retail sides of the business, and a proven track record of delivering results. We thank Jürgen Schreiber for his outstanding leadership in bringing this acquisition to fruition and wish him the greatest success.”

    Rexall Health will continue to have a dedicated management team in Canada under Pilla, while retaining the existing brand Canadians have come to know and trust. Pilla is expected to appoint a new president of Rexall Health in the future to provide day-to-day leadership for Rexall. His other direct report will be Paula Keays, president of McKesson Canada.

    McKesson now expects Rexall Health to be flat to adjusted earnings per diluted share for Fiscal 2017 as earnings attributable to Rexall Health will be offset by an anticipated charge related to a fair value adjustment of acquired inventory.

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