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BRATTLEBORO — A leak in a valve in a steam line at Vermont Yankee nuclear power plant was finally sealed Wednesday afternoon.
The fix, which involved injecting a sealant inside a clamp around the valve, is only temporary. The valve will be fixed when the plant undergoes its next refueling outage in 2010.
“You may recall that Entergy three times before clamped the valve and injected leak repair material, but it did not work,” said Neil Sheehan, spokesman for the Nuclear Regulatory Commission. The valve is located in the reactor water cleanup system, which was out of service temporarily while the repair work was conducted, he said.
“The company is continuing to monitor the valve to ensure that the repair is working.”
The NRC’s resident inspectors observed the entire repair process, said Sheehan. “They continue to periodically check to see whether the fix is holding. As recently as this morning, they were taking a look at the valve via the TV monitor providing live video of the room.”
The valve had been leaking about 3,600 gallons of water a day since the leak was discovered in early January.
“A closed circuit camera is now installed at the valve to enable technicians to ensure valve remains sealed,” said Rob Williams, spokesman for Vermont Yankee. “At our next refueling outage, we will repair or replace the valve so that the sealant will not be needed.”
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By Michelle Fay Cortez and Shannon Pettypiece
March 10 (Bloomberg) — A dozen Schering-Plough Corp. experimental drugs that are nearing marketing approval in the U.S. may pay off for Merck & Co. before that company loses patents on medicines with $8 billion in annual sales.
The purchase of Schering-Plough, of Kenilworth, New Jersey, for $41.1 billion in cash and stock gives Merck new products for cancer, immune diseases and psychiatric disorders. It also awards Merck, of Whitehouse Station, New Jersey, full control of revenue from the cholesterol pills Zetia and Vytorin, which it now shares with Schering-Plough.
Merck’s $4 billion-a-year asthma drug Singulair will face generic competition by 2012. By then, Schering-Plough has said it plans to file for approval of seven drugs, each with more than $1 billion in peak annual sales. One of the experimental medicines is a blood thinner that may help 20 million Americans.
“What makes Schering so attractive is the number of drugs in their pipeline and the lack of generic competition,” said David Moskowitz, an analyst with Caris & Co., in a telephone interview. “It’s a tremendous deal for Merck.”
Schering-Plough’s biggest sellers aren’t nearing patent expiration. The company is developing the blood thinner for heart patients, a schizophrenia drug, the once-a-month injected arthritis medicine golimumab, a treatment that reverses anesthesia’s side effects, and anti-viral remedies for hepatitis C and other infectious diseases.
The deal between the two New Jersey-based drugmakers “is about the science,” said Merck Chief Executive Officer Richard Clark in a conference call with investors.
Blood-Thinner Study
Schering-Plough is nearly finished with a study for its blood thinner, dubbed TRA, and plans to seek regulatory approval in 2010 or 2011. The medicine is designed to prevent clots without boosting the risk of bleeding, a major drawback of existing drugs for heart patients.
The medication could compete against Plavix from New York- based Bristol-Myers Squibb Co. and Paris-based Sanofi-Aventis SA. Plavix is the world’s second-biggest drug with more than $8 billion in annual sales.
Prasugrel, made by Eli Lilly & Co., of Indianapolis, Indiana, and Tokyo-based Daiichi Sankyo Co., won the backing of a Food and Drug Administration advisory panel last month for patients getting artery-clearing procedures, and other companies are experimenting with treatments to prevent clots with less bleeding than Plavix or prasugrel.
Merck also would gain Schering-Plough’s best-selling drug, the anti-inflammatory medicine Remicade, which it markets outside the U.S., and a successor known as golimumab. Schering- Plough collaborates on both drugs with Johnson & Johnson, of New Brunswick, New Jersey.
J&J Factor
J&J may bid for Schering-Plough or fight for rights to Remicade and golimumab, said Tim Anderson, an analyst with Sanford C. Bernstein & Co. in New York, in a note to clients.
Schering-Plough filed for European approval of golimumab a year ago and has predicted peak sales of more than $1 billion.
Buying Schering-Plough also gives Merck full control of the cholesterol pills Zetia and Vytorin, whose sales plummeted in 2008 after a study questioned whether they were better than an older generic drug at unclogging heart arteries. The companies plan a combination of Zetia, which lowers the body’s absorption of cholesterol, with Pfizer Inc.’s Lipitor after that medicine loses patent protection in 2011.
Schering-Plough’s biggest selling drugs have patent protection until the middle of the next decade, said Thomas Koestler, president of the company’s research institute, in a briefing last year. That means its experimental products will generate extra revenue, rather than replacing sales lost to competitors, he said.
No Guarantee
The experimental drugs aren’t guaranteed successes.
The FDA rejected Schering-Plough’s sugammadex, also known as Bridion, in August because of allergic reactions and other side effects. The injected medicine to reverse anesthesia is approved in Europe. Schering-Plough got the drug as part of its $16.1 billion purchase of Akzo Nobel NV’s Organon BioSciences unit in 2007.
The FDA also asked for more information about a schizophrenia drug Schering-Plough is developing called Saphris. Schering-Plough answered the agency last month. The drug, which the company said is another potential $1 billion seller, would compete with Johnson & Johnson’s Risperdal, Eli Lilly & Co.’s Zyprexa, AstraZeneca Plc’s Seroquel and Bristol-Myers Squibb Co.’s Abilify in the $16.2 billion a year market for schizophrenia treatments.
Saphris worked no better than a placebo in half its schizophrenia studies and caused side effects in patients with bipolar disorder, researchers said.
Animal Drugs
Schering-Plough also is the biggest animal health company, with sales of about $3 billion a year treating pets and working animals. Its over-the-counter and consumer health products, including the allergy pill Clariton, also generate about $1 billion in annual sales.
Merck plans to sell Schering-Plough’s 50 percent stake in an animal-health joint venture with Sanofi-Aventis SA as part of the deal, according to people familiar with the transaction.
“Assuming Merck keeps these, it would help the company achieve a greater level of revenue diversification,” said Anderson of Sanford C. Bernstein, in a note to clients. “Merck is buying a good collection of assets overall.”