Watson Laboratories Inc., a subsidiary of Watson Pharmaceuticals Inc., Corona, CA, signed an agreement to acquire CoCensys Pharmaceutical's neurology and psychiatry sales and marketing divisions.
Watson Laboratories Inc., a subsidiary of Watson Pharmaceuticals Inc., Corona, CA, signed an agreement to acquire CoCensys Pharmaceutical's neurology and psychiatry sales and marketing divisions.
The transaction, valued at approximately $9 million, also entitles Watson to the Irvine, CA-based company's newly acquired central nervous system product and co-promotion agreements for Somerset Pharmaceuticals' Parkinson's disease product Elderpryl and Parke-Davis' children's epilepsy product Zarontin.
"The CoCensys sales and marketing division was particularly attractive because the sales force is well-established and expert in the areas of neurology and psychiatry," said Allan Chao, Watson's chairman and chief executive officer. "They will complement our existing primary and recently established female health care sales forces."
CoCensys says it will benefit from the sale because it will be able to streamline and concentrate energies and resources on discovering and developing therapies for brain and central nervous system disorders. Its sales organization, meanwhile, will "benefit by being part of an operating environment that possesses a large portfolio of products and the significant resources to maximize its marketing capabilities," according to F. Richard Nichol, CoCensys' president and chief executive officer.
The companies plan to collaborate in the future as CoCensys brings new products to market. PR
Fake Weight Loss Drugs: Growing Threat to Consumer Health
October 25th 2024In this episode of the Pharmaceutical Executive podcast, UpScriptHealth's Peter Ax, Founder and CEO, and George Jones, Chief Operations Officer, discuss the issue of counterfeit weight loss drugs, the potential health risks associated with them, increasing access to legitimate weight loss medications and more.
The Transformative Role of Medical Information in Customer Engagement
October 3rd 2024Stacey Fung, Head of Global Medical Information at Gilead Lifesciences, delves into the evolving role of Medical Information (MI) in the pharmaceutical industry. Covering key topics like patient engagement through omnichannel strategies, combating misinformation, and leveraging AI to enhance medical inquiries, the conversation with Stacey highlights MI's critical role in ensuring patient safety and supporting drug development. She also shares her professional journey and tidbits for early career professionals on professional development.