(By Balachander) MeadWestvaco Corp. (NYSE:MWV) announced the acquisition of Switzerland-based AARDEX Group, a maker of electronic medication-event monitoring systems (MEMS) that analyzes patients' adherence to prescribed drug dosing regimens in clinical trials.
Terms of the deal were not disclosed.
AARDEX's products measure, analyze, and improve patient adherence to prescribed drug dosing regimens in both trials and practice. Its MEMS system transfers dosing history data from the MEMS monitor to a personal computer via the MEMS Reader.
The dosing history data enter a database, which is analyzed by appropriate statistical means, and the resulting adherence analyses are displayed in a variety of easily interpreted graphic and tabular formats, claims AARDEX's website.
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The acquisition allows Richmond, Virginia-based MeadWestvaco to offer packaging and data analysis services that "address non-adherence to medications, from phase II clinical trials all the way through commercialization."
MeadWestvaco's deal also adds the MEMS Cap for bottles to its portfolio of adherence-enhancing portfolio of solid oral dose solutions. "These packaging solutions have had a positive effect on patient adherence in clinical trials and commercial settings by eliminating double-dosing or omission of dosing," the company said in a statement.
On Wednesday, MWV stock added 1.35 percent to trade at $27.11.