Covidien, a surgical product and drug company, announced it will separate its pharmaceuticals division into a distinct company to focus on pain management, according to a Businessweek report.
The pharmaceuticals division currently generates $2 billion in annual sales — two-thirds of that in the U.S. market. The product division of the company does $9.6 billion in annual sales. Some of the drug unit's products include Exalgo, an extended release opioid, and Pennsaid, a topical anti-inflammatory. Covidien said that entire process could take up to 18 months.
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The pharmaceuticals division currently generates $2 billion in annual sales — two-thirds of that in the U.S. market. The product division of the company does $9.6 billion in annual sales. Some of the drug unit's products include Exalgo, an extended release opioid, and Pennsaid, a topical anti-inflammatory. Covidien said that entire process could take up to 18 months.
Related Articles on Pain Management:
Dr. Danzhu Guo and Dr. Thomas Wilkins Recognized by the National Committee for Quality Assurance Back Pain Recognition Program
7 Recent Efforts to Combat the Opioid Abuse Problem
New York City Launches Task Force to Combat Prescription Drug Problem