The job-cutting ax has come out for Merck's U.S. field force, as part of a move to cut 600 positions by August.
The chilly sales climate in China is just now warming up after last summer's wave of bribery accusations spooked doctors and sales reps. But as far as Merck KGaA is concerned, China is warm enough to deliver doubled revenues in the region. And that's exactly what the German drugmaker's shooting for.
The string of pharma M&A deals fueled by the lure of cutting taxes continues and Midwest-based Hospira is now said to be about to take the plunge. Its vehicle of choice is the medical nutrition business of France's Danone, which sources say it is negotiating to buy in a deal that could run to $5 billion.
Reckitt Benckiser has been dropping plenty of hints that it would eventually spin off its pharmaceuticals unit. The time is here: The company says it will break off its pharma unit via with a separate U.K. listing, becoming the latest drugmaker to join pharma's slim-down craze.
Last week, France made its move to knock the Novartis eye drug Lucentis out of drug coverage and move its cheaper cousin Avastin into its place. Now, Novartis and its Lucentis partner Roche are fighting back.
GlaxoSmithKline pulled off a $20 billion asset swap with Novartis in April, hiving off its oncology business and building up in consumer health and vaccines in one fell swoop. But that restructuring might not be enough, CEO Andrew Witty tells the Financial Times. A future spin-off may be in order.
Merck is going through a complete makeover, buying and selling units at a rapid pace. And some of its employees are getting caught in its "out with the old and in with the new" philosophy. Now 600 sales reps have been told their services are no longer needed
It remains to be seen whether unconventional M&A tactics from Valeant's takeover partner, Bill Ackman, will help the pair get a deal for Allergan done. But in the meanwhile, one lawmaker is putting heat on the SEC to consider revising the rules that allowed them.
Nexavar, the blockbuster cancer drug sold by Bayer and Onyx Pharmaceuticals, has failed again in a trial for a new indication.
A Johnson & Johnson exercise in creative problem solving has paid off for doctors and patients who rely on its ovarian cancer drug Doxil, availability of which has been uncertain for years. Its Janssen unit has accumulated a significant supply after assuming manufacturing at Boehringer Ingelheim plant that otherwise was closed down at the end of the year.
Gilead Sciences, which this week got FDA approval for its new blood cancer drug Zydelig (idelalisib), has now gotten a recommendation for its use in Europe. But competitor Imbruvica from Johnson & Johnson, which got a head start in the U.S., also received a nod from EU authorities today.
AbbVie may have just struck a deal with Shire in order to diversify beyond its top drug, Humira. But that doesn't mean the drug isn't steamrolling.
The British company said Thursday that it had received an email containing allegations from a whistleblower pertaining to bribes paid by GSK's consumer healthcare operation in Syria before it was shut down amidst the country's civil war in 2012.
Bristol-Myers Squibb's melanoma drug Yervoy and clot-fighter Eliquis helped boost its earnings past analyst forecasts, with $333 million in profits on $3.9 billion in revenue.
Blame a strong Swiss franc on any falling sales and profits Roche put up in the first half of 2014, the company said Thursday. The Swiss pharma's cancer drugs certainly didn't cause the decline, with newcomers Perjeta and Kadcyla helping power the group with especially noteworthy revenue gains.
The BMJ has set off a kerfuffle--and a Twitter campaign--over the safety of Boehringer Ingelheim's blockbuster anticoagulant Pradaxa.
Armed with a brand-new FDA approval for its blood cancer drug Zydelig (idelalisib), Gilead will take on the oncology market.
Eli Lilly said 2014 would be an extraordinarily challenging year, and judging from its second-quarter earnings, that prediction wasn't wrong. Lilly's revenue dropped 17% to $4.9 billion in the second quarter, largely because the company lost its patent protection on two of its biggest blockbusters: the anti-depressant Cymbalta, which once brought in nearly $5 billion in sales annually, and osteoporosis drug Evista, previously a $1-billion-a-year hit.
Gilead Sciences' juggernaut, Sovaldi, keeps on rolling along despite the pushback from payers, politicians and health officials over the high price of the hepatitis C cure. It racked up another $3.5 billion sales in the second quarter, on top of the nearly $2.3 billion in the first, a sum that made it the fastest drug launch ever.
When AbbVie buys out Shire for nearly $55 billion in a deal the two companies agreed on last week, there will be no golden parachute awaiting Shire chief Flemming Ornskov. Instead, there's a signing bonus in order: The helmsman will pocket just under $10 million for staying on with the combined company in a new role.