Posts Tagged ‘King Pharmaceuticals’

PhRMA and the New Physician Marketing

Friday, November 7th, 2008

I was amazed at the more than 700 women attending the 2008 Women’s Healthcare Business Association (HBA) national conference today. As a first timer at the event (distinguished by the bright orange sticker on my name badge), it was easy to engage in conversations—even for those weary of the press. And for marketers, there was only one thing on their mind:

“The first thing out of everyone’s mouth when they come to my table is, ‘How are you handling the new PhRMA guidelines?’” said Tammy Kornfeld, senior account manager of Beyond Branding at Compas. The new marketing code is set to take effect in January 2009.

Kornfeld said the company is distributing flash drives with presentations explaining the tactics pharma companies can employ under the new regulations. “Reps may not be able to pass out pads and pens anymore, but there are many things that they will still be able to do,” she said. Kornfeld also added that, though the gifts are gone, corporate material can still be distributed. (more…)

King Ups Alpharma Offer

Thursday, September 11th, 2008

King Pharmaceuticals sweetened its offer to purchase Alpharma this morning. The drug firm boosted the bid price to $37 per share or $1.6 billion from the initial of $33 a share it presented in early August. If Alpharma refuses, King is prepared to get down and dirty.

In a pointed letter to Alpharma’s board, King President and CEO Brian A. Markison stated that every effort to negotiate terms and costs with Alpharma has been ignored.

“While we would prefer to work cooperatively with you and your Board to complete a negotiated transaction, our Board of Directors has authorized management to commence a tender offer to purchase all of the outstanding shares of Class A Common Stock of Alpharma for $37 per share in cash, which we intend to do promptly.”

On August 22, Alpharma President and CEO Dean J. Mitchell rejected King’s initial offer stating, “the proposal is inadequate and does not reflect the Company’s inherent value.” Mitchell accused Markison of publicly commenting on negotiations without a confidentiality agreement and noted that the offer was not up to snuff because of potential earnings of Alpharma’s pain drug Embeda, currently under review by FDA.


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