Now that the Big Pharma breakup craze has moved down the drugmaker food chain to Baxter International, should Big Biotech jump on the trend? Maybe one of that group, an analyst suggests. As Forbes reports, Bernstein analyst Geoffrey Porges figures Amgen offers a decent opportunity for a breakup.
Launched last April, Tecfidera racked up more than a half-billion dollars in sales for the first quarter of this year. That puts its cumulative total at $1.38 billion--well within blockbuster territory.
Valeant may think Allergan is a great buyout fit, as evidenced by the $47 billion bid it made for the California company Tuesday. But Allergan may feel differently--at least at the current offering price.
We can officially say that Gilead Sciences pulled off the fastest drug launch on record. First-quarter sales of the company's new hepatitis C drug Sovaldi (sofosbuvir), approved in December, blew past previous records and just kept going. And along the way, it broke the blockbuster barrier, too.
Let the price negotiations begin, the top executive for the U.K. price watchdog suggested today after the agency nixed Roche's pioneering breast cancer drug Kadcyla as too expensive.
The champions of digital marketing pounded their chests in dismay earlier this month, when 2013 DTC-spending stats showed online ads on the wane. Down by 14%, and the numbers were pretty paltry to begin with. No wonder, then, that Google is lobbying the pharma business on YouTube's behalf.
Amgen reported a mixed bag of results in the first earnings period following its acquisition of Onyx Pharmaceuticals. First-quarter revenues came in approximately $230 million lower than consensus, a miss that the company attributes primarily to sluggish sales of Enbrel.
Powered by sales that averaged more than $25 million a day for brand-new hep C drug Sovaldi, Gilead Sciences beat all expectations, with quarterly sales that nearly doubled and profits that tripled in the first quarter.
As The Wall Street Journal reports, the Irvine, CA-based Allergan is the latest apple of deal-happy Valeant's eye. And allied with activist investor Bill Ackman--who recently flew under the radar to amass a 9.7% Allergan share--it might just have the heft to pull off a pickup, with or without Allergan's blessing.
In the latest settlement of a Big Pharma-delays-generics case, Pfizer has agreed to pay $190 million to wrap up a class-action suit over its seizure drug Neurontin. More than a decade old, the lawsuit claimed that Pfizer did some fast tap-dancing to prolong its Neurontin monopoly.
Novartis CEO Joe Jimenez is on record saying he's "a big fan" of the company's consumer health business. But that doesn't mean he has to run it. The Swiss drugmaker gets to have its consumer health and hand it off, too, in a new joint venture with GlaxoSmithKline.
In an announcement full of surprises from Novartis and GlaxoSmithKline, the sale of the Swiss company's vaccines division to Glaxo may have been the least surprising part.
Why would GlaxoSmithKline sell most of its cancer business to Novartis? In today's deal announcement, that particular sale stands up for questioning.
Novartis has agreed to sell its veterinary products business to Eli Lilly, whose Elanco unit is among the biggest players in animal health, for about $5.4 billion
While the chattering classes were chattering about a potential Pfizer-AstraZeneca merger yesterday, three other drug giants were putting the finishing touches on a big announcement. Novartis, whose strategic review has been making headlines for almost a year, agreed to swap some assets with GlaxoSmithKline and sell its animal health business to Eli Lilly.
A new JAMA Dermatology study shows a huge difference in brand-name scripts written by physicians who turn down drug samples--a 62-percentage-point difference, to be exact.
With a pair of long-acting hemophilia meds on the way, Biogen Idec appears poised to shake up the market for the bleeding disease. And though recently approved Alprolix has yet to launch, it has already made waves: Biogen has priced it on par with older therapies, leaving competitors vulnerable to patient-switching.
AbbVie has asked a federal appeals panel to decide whether a new trial is really warranted in its case with GlaxoSmithKline over the price of an HIV drug. But the drugmaker was very careful to point out that it is not asking the court to disrupt any rights that gays and lesbians have achieved through a recent Supreme Court ruling.
Eli Lilly's John Lechleiter was one of six pharma CEOs to make the New York Times 2013 executive-pay ranking, but he wasn't at the top of the list of highly paid drug industry execs. That position went to Abbott's Miles White, who saw his pay rise 8% to $20.5 million, placing him in the 13th spot overall on the NYT list.
We thought Pfizer was on a diet. After all, CEO Ian Read has garnered investor acclaim for his unit sales and spinoffs, and more of that action is expected. But the U.S.-based drug behemoth reportedly made a $100 billion-plus merger pitch to its struggling rival AstraZeneca. That would be quite a deal to digest.