Ovation Pharmaceuticals

Last updated

Ovation Pharmaceuticals is an American manufacturer and distributor of pharmaceuticals products. It was founded in 2000 by Jeffrey Aronin and is headquartered in Deerfield, Illinois. A major office is also located near Lebanon, New Jersey. Ovation is a privately held corporation based on a business model of acquiring mature but under-promoted pharmaceuticals, as well as pharmaceutical candidates which are far along the development and FDA certification processes. Since 2009, the company has been wholly owned by the Danish pharmaceutical company Lundbeck.

Contents

In 2007, Ovation Pharmaceuticals was a recipient of the 2007 Chicago Innovation Awards. [1]

Products

The company particularly focuses on niche drugs for small patient populations. [2] Products include the ADHD medicine, Desoxyn (brand name for methamphetamine hydrochloride), and vigabatrin, an anticonvulsant that inhibits the catabolism of GABA and is indicated for epilepsy and substance abuse.

Purchases

In 2003, Sanofi sold its interests in stanozolol, Methylphenobarbital, and Dimercaptosuccinic acid to Ovation. [3]

In March 2009, Lundbeck purchased Ovation for $600 million in cash, with further payments of up to $300 million based on regulatory approvals for vigabatrin (Sabril), which was under development at the time. [4]

Controversy

In 2008, the Federal Trade Commission sued Ovation in Minnesota federal district court over its 2006 acquisition of NeoProfen, a treatment for a congenital heart defect in newborns known as patent ductus arteriosus. Ovation already owned Indocin IV, the only other drug used for this condition. Upon acquiring the only competitor for Indocin IV, Ovation raised the price of both drugs by 1,300 percent, from $36 per vial to nearly $500 per vial. [5] [6] The dramatic price increase was the subject of a 2008 Congressional hearing. [7] In 2010, a district court judge ruled that the FTC had not proved its case. [8]

Related Research Articles

<span class="mw-page-title-main">Pharmaceutical Research and Manufacturers of America</span> Trade group

Pharmaceutical Research and Manufacturers of America, formerly known as the Pharmaceutical Manufacturers Association, is a trade group representing companies in the pharmaceutical industry in the United States. Founded in 1958, PhRMA lobbies on behalf of pharmaceutical companies. PhRMA is headquartered in Washington, DC.

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. The corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Synthélabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. It changed its name back to Sanofi in May 2011. The company is a component of the Euro Stoxx 50 stock market index. In 2023, the company’s seat in Forbes Global 2000 was 89.

<span class="mw-page-title-main">Stanozolol</span> Discontinued steroid for heart treatment

Stanozolol, sold under many brand names, is a synthetic androgen and anabolic steroid (AAS) medication derived from dihydrotestosterone (DHT). It is used to treat hereditary angioedema. It was developed by American pharmaceutical company Winthrop Laboratories in 1962, and has been approved by the U.S. Food and Drug Administration for human use, though it is no longer marketed in the USA. It is also used in veterinary medicine. Stanozolol has mostly been discontinued, and remains available in only a few countries. It is given by mouth in humans or by injection into muscle in animals.

<span class="mw-page-title-main">Lundbeck</span> International Pharmaceutical Firm

H. Lundbeck A/S is a Danish international pharmaceutical company engaged in the research, development, manufacturing, marketing and sale of pharmaceuticals across the world. The company’s products are targeted at brain diseases, including depression, schizophrenia, Alzheimer's disease, Parkinson's disease and migraine.

Cencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale company and a contract research organization that was formed by the merger of Bergen Brunswig and AmeriSource in 2001.

<span class="mw-page-title-main">Vigabatrin</span> Epilepsy medication

Vigabatrin, sold under the brand names Sabril and Vigpoder, is a medication used to treat epilepsy. It became available as a generic medication in 2019.

Bausch Health Companies Inc. is an American-Canadian multinational specialty pharmaceutical company based in Laval, Quebec, Canada. It develops, manufactures and markets pharmaceutical products and branded generic drugs, primarily for skin diseases, gastrointestinal disorders, eye health and neurology. Bausch Health owns Bausch & Lomb, a supplier of eye health products. Bausch Health's business model is primarily focused on acquiring small pharmaceutical companies and then sharply increasing the prices of the drugs these companies sell.

C.H. Boehringer Sohn AG & Co. KG is the parent company of the Boehringer Ingelheim group, which was founded in 1885 by Albert Boehringer (1861–1939) in Ingelheim am Rhein, Germany. As of 2018, Boehringer Ingelheim is one of the world's largest pharmaceutical companies, and the largest private one. Headquartered in Ingelheim, it operates globally with 146 affiliates and more than 47,700 employees. Unlike most large pharmaceutical companies which are listed, the company is private and fully owned by the Boehringer, Liebrecht and von Baumbach families. The company's key areas of interest are: respiratory diseases, metabolism, immunology, oncology and diseases of the central nervous system. Boehringer Ingelheim is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA). The corporate logo of Boehringer Ingelheim depicts a stylized rendition of the central section of the imperial palace of Charlemagne.

Forest Laboratories was a company in the pharmaceutical industry incorporated in Delaware, with its principal office in New York City. It was known for licensing European pharmaceuticals for sale in the United States. On July 1, 2014, the company was acquired by Actavis.

<span class="mw-page-title-main">Omnicare</span> American health care company

Omnicare is an American company working in the health-care industry. It was established in April 1981 as a spinoff of healthcare businesses from Chemed and W. R. Grace and Company. It is currently a pharmacy specializing in nursing homes. In 2015, Omnicare was acquired by CVS Health.

<span class="mw-page-title-main">Apotex</span> Canadian pharmaceutical company

Apotex Inc. is a Canadian pharmaceutical corporation. Founded in 1974 by Barry Sherman, the company is the largest producer of generic drugs in Canada, with annual sales exceeding CA$2.5 billion. By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries. Apotex manufactures and distributes generic medications for a range of diseases and health conditions that include cancer, diabetes, high cholesterol, glaucoma, infections and blood pressure.

<span class="mw-page-title-main">Teva Pharmaceuticals</span> Israeli pharmaceutical company

Teva Pharmaceutical Industries Ltd. is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (API's) and, to a lesser extent, contract manufacturing services and an out-licensing platform.

<span class="mw-page-title-main">Regeneron Pharmaceuticals</span> American biotechnology company

Regeneron Pharmaceuticals, Inc. is an American biotechnology company headquartered in Westchester County, New York. The company was founded in 1988. Originally focused on neurotrophic factors and their regenerative capabilities, giving rise to its name, the company then branched out into the study of both cytokine and tyrosine kinase receptors, which gave rise to their first product, which is a VEGF-trap.

<span class="mw-page-title-main">Mallinckrodt</span> Irish domiciled pharmaceutical

Mallinckrodt Pharmaceuticals is an American-Irish domiciled manufacturer of specialty pharmaceuticals, generic drugs and imaging agents. In 2017, it generated 90% of its sales from the U.S. healthcare system. While Mallinckrodt is headquartered in Ireland for tax purposes, its operational headquarters are in the U.S. Mallinckrodt's 2013 tax inversion to Ireland drew controversy when it was shown Acthar was Medicaid's most expensive drug.

<span class="mw-page-title-main">Actelion</span> Swiss biopharmaceutical company

Actelion is a pharmaceuticals and biotechnology company established in December 1997, headquartered in Allschwil near Basel, Switzerland.

Vaccine bundling is a contractual agreement offered by some pharmaceutical companies to pediatricians, that gives a discount to doctors purchasing pediatric vaccines, but only if the physicians agree to buy the majority of their vaccines from a single manufacturer. It is a form of product bundling.

Horizon Therapeutics was a biopharmaceutical company focused on researching, developing, and commercializing medicines that address critical needs for people impacted by rare and rheumatic diseases. Horizon primarily markets products in the United States, which represented 97% of Horizon's 2019 worldwide sales. Amgen acquired the company in October 2023.

Jeff Aronin is an American investor, entrepreneur, and biotechnology executive. He is founder, chairman and CEO of Paragon Biosciences, LLC, a global life science company that creates, builds, and funds innovative biology-based companies.

<span class="mw-page-title-main">Adrenocorticotropic hormone (medication)</span> Chemical compound

Adrenocorticotropic hormone is used as a medication and as diagnostic agent in the ACTH stimulation test.

References

  1. ↑ "OVATION Pharmaceuticals Honored for Innovation". www.businesswire.com. 2007-10-22. Retrieved 2020-04-16.
  2. ↑ Graham, Meg (July 13, 2015). "Jeff Aronin of Marathon Pharmaceuticals on life after a $900M exit". Chicago Tribune. Archived from the original on 13 April 2020. Retrieved 2 July 2016.
  3. ↑ PRnewswire. 7 August 2003. Press release: Ovation Pharmaceuticals Acquires Mebaral(R), Chemet(R), and Winstrol(R) From Sanofi-Synthelabo Inc.
  4. ↑ Rockoff, Johnathan D. (February 9, 2009). "Denmark's Lundbeck to Buy Ovation Pharmaceuticals". The Wall Street Journal. Retrieved 2 July 2016.
  5. ↑ "FTC Sues Ovation Pharmaceuticals for Illegally Acquiring Drug Used to Treat Premature Babies with Life-Threatening Heart Condition". Federal Trade Commission press release. December 16, 2008. Retrieved 2 July 2016.
  6. ↑ "FTC Alleges Price Gouging, Illegal Monopoly for Baby Medicines". The Washington Post. 2008-12-17. ISSN   0190-8286 . Retrieved 2016-07-20.
  7. ↑ Pollack, Andrew (December 17, 2015). "Martin Shkreli's Arrest Gives Drug Makers Cover". The New York Times. Retrieved 2 July 2016.
  8. ↑ Wright, Josh (September 2, 2010). "The FTC Loses in Ovation Pharmaceuticals". Truth on the Market. Retrieved 2 July 2016.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.