Biography for Eric Palmer
Eric Palmer, Senior Editor
Eric Palmer is a business and technology journalist with more than three decades of prize-winning experience as a reporter and editor with daily, weekly, monthly and online publications. He was healthcare reporter for The Kansas City Star before becoming deputy business editor for the daily newspaper. He spent eight years as editor of The Kansas City Business Journal, which had a strong emphasis on the healthcare industry. On the personal side, he is an avid fly fisherman, cooks and collects wine, and likes to travel with his family. Eric is based in Kansas City and can be reached at firstname.lastname@example.org.
Articles by Eric Palmer
Japan's Takeda today officially named French national Christophe Weber its first non-Japanese CEO. The 49-year-old Weber, who takes over April 1, will now have to show whether he can succeed where so many other foreign heads of Japanese companies have not.
A Teva plant in Pennsylvania and hundreds of jobs have been spared the ax that the Israeli company has been swinging left and right as it cuts costs in the face of patent cliff issues. Instead, a family-owned business from New Jersey will acquire the Sellersville facility along with about two dozen drugs that are manufactured there.
Not only did Sanofi snag an EU recommendation for its Lantus follow-up drug Toujeo just two days after the FDA approved it, but regulators in Europe also gave the drug a bit of a kiss that the FDA did not. They noted that it is better at preventing low blood sugars.
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.
Generic Dr. Reddy's Laboratories, which already has had to defend its drug pricing to a couple of members of Congress, is now being called to account by the attorneys general of both Texas and California.
Takeda's revenues and profits will be down for the second year running. But COO Christophe Weber is promising better things to come. With a reorganization in place and some new drugs in the market and the pipeline, he said investors can expect growth going forward.
Initial indications were that Allergan's outgoing CEO David Pyott would collect about a $35 million golden parachute when Actavis finalized its $66 billion buyout of the Californian drugmaker, assuming he is out of a job. But it will be considerably more, nearly three times that amount.
Takeda's CEO-in-waiting, Christophe Weber, has included emerging markets, along with oncology and gastrointestinal medicines, as one of three areas of focus. He recently said he is ready to do some deals to capitalize on those areas, and now he has executed one that straddles two of those favorites.
Lupin expected to introduce 15 to 20 new products to the U.S. market this year, but that was before the announcement today that the FDA had found shortcomings at one of its key plants in India.
Former Merck analyst Zachary Zwerko pleaded guilty to federal insider-trading charges on Thursday for passing merger tips to a business school chum. The tips allowed the New York Mellon trader to make $700,000 in profits, Bloomberg reports.