It's no secret that when serial acquirer and cost-cutting enthusiast Valeant takes over a company, layoffs are on the way. And for Dendreon, the bankrupt Seattle biotech whose assets the Canadian snatched up last month, they've already begun.
The promises are coming home to roost for AstraZeneca CEO Pascal Soriot. Or so reports The Sunday Times, which says the U.K.-based company is once again under pressure to put Soriot's bonus pay on the line for the big goals he touted in defending against Pfizer's $100 billion takeover bid last year. Read more >>
2014 was a tough year for GlaxoSmithKline. Its revenues and profits were off significantly. Its operating profit was off nearly 50% in pounds--and, as it turns out, so was CEO Andrew Witty's pay. In fact he took a 46% whack to his compensation. Read more >>
In his first public move since being ousted as Sanofi CEO, Chris Viehbacher has joined the board of directors at Boston startup factory PureTech Ventures. Read more >>
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What's going to save Novartis' reputation in Japan? Science, says CEO Joe Jimenez, a week after the government suspended his Japanese unit for failure to report side effects. In an interview with the Japanese news service Nikkei, Jimenez admitted that Novartis took "a reputational hit" in Japan as a high-profile trial data scandal unfolded. Its brand may be tarnished in the country, but the Swiss drugmaker can regain its good name there, the CEO insists.
It's been less than a week since Mylan completed its deal with Abbott, scooping up a large chunk of the Illinois company's overseas generics business. But CEO Heather Bresch is already hinting at another big transaction.
Top hospitals are still irate about Genentech's decision to move its best-selling cancer drugs to specialty distributors. And they're not giving up on persuading the company to change back.
With oral rivals lurking for Rebif, the leading drug from Merck KGaA, the good news for the German pharma is that the news isn't that bad.
The U.K.'s cost-effectiveness watchdogs gave a thumbs up to Gilead Sciences' combo hepatitis C pill Harvoni, despite its £39,000 price, or about $58,000. The pill combines Gilead's new blockbuster hep C drug Sovaldi with another antiviral, ledipasvir, and has delivered impressive cure rates.
Sanofi has its second diabetes approval in as many months: Toujeo, its long-acting follow-up to the megablockbuster Lantus. It's a big moment for the French drugmaker and its diabetes franchise, which needs the new drugs to perform, and quickly, to cushion the blow from forthcoming Lantus biosimilars.
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Women with dense breasts are more likely to have so-called mammographically occult breast cancer, meaning the disease won't be detected using a conventional mammogram, data presented at the San Antonio Breast Cancer Symposium showed.
Becton Dickinson has acquired Crisi Medical Systems for an undisclosed sum. The San Diego, CA-based startup is the only provider of real-time drug identification, dose measurement and allergy detection data for manual IV bolus injections that wirelessly populates patient electronic medical records, according to BD.