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By 1997, the drug store chain was the nation's eighth largest, having 207 locations throughout southeastern Michigan. In 1997, revenues totaled $962.8 million (~$1.7 billion in 2023). CVS Corporation announced on February 9, 1998, that it would be purchasing Arbor Drugs in a transaction estimated at $1.48 billion (~$2.58 billion in 2023), and ...
*Note: this list includes joint-ventures based in Michigan, subsidiaries of Michigan-based companies also located in Michigan, and companies based in Michigan currently owned or controlled by private equity, venture capital, or other similar entities. Below is a separate list of outside companies with a significant presence in Michigan.
This page was last edited on 23 December 2023, at 23:07 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Eric Lagatta, USA TODAY. Updated January 31, 2025 at 10:03 AM. For the first time in two decades, the Food and Drug Administration (FDA) ...
In 2018, [22] and 2019, [23] Aurobindo Pharma USA recalled tablets containing valsartan due to the detection of N-Nitrosodiethylamine (NDEA) which is a probable human carcinogen. In November 2019, Aurobindo Pharma USA recalled ranitidine tablets, capsules, and syrup due to the detection of unacceptable levels of N-nitrosodimethylamine (NDMA).
Amlodipine was patented in 1982, and approved for medical use in 1990. [12] It is on the World Health Organization's List of Essential Medicines. [13] It is available as a generic medication. [10] [14] In 2022, it was the fifth most commonly prescribed medication in the United States, with more than 70 million prescriptions.
On May 11, 2019, Teva Pharmaceuticals USA was one of 19 drug companies sued for price fixing in the United States by 44 states for inflating its prices, sometimes up to 1000%, in an illegal agreement among it and its competitors. [7] In June 2021, Teva agreed to pay $925M to settle allegations it had engaged in price fixing in Mississippi. [109]
Cunningham Drug was a drugstore chain based in Detroit, Michigan. Founded in October 1889 by Andrew Cunningham, the chain operated primarily within the state of Michigan, and was once the largest drugstore chain in the state. Its Michigan locations were closed and reopened in 1982 as Apex Drug, and were later sold to Perry Drug Stores.
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