Amgen's multiple myeloma treatment Kyprolis finally won approval in Europe--and with competition heating up across the pond, the go-ahead couldn't have come at a better time.
Denmark's Xellia Pharmaceuticals has bought the former Ben Venue plant, at one time the most notorious U.S. plant under FDA supervision, a facility responsible for dozens of recalls and a slew of drug shortages.
Turing Pharmaceuticals promised to lower the price of its toxoplasmosis med, Daraprim, in response to growing backlash from lawmakers and the public after it bought the drug in August and jacked up its price by more than 5000%. Now the company is opting to negotiate discounts with hospitals rather than cut the drug's list price.
Earlier this month, Perrigo shareholders spurned a hostile buyout attempt from Mylan. And now, the Netherlands-based company may have to go up against its former target if it wants to pursue a replacement buy.
Last month, Shire said it still believed an acquisition for Baxalta--a target that rejected it almost four months back--would make a "highly strategic combination." And now, it's preparing to follow up.
An FDA warning letter found that for years, Dr. Reddy's Laboratories was testing drug batches in a laboratory that the FDA was never told existed and often shipped to the U.S. products that had repeatedly failed tests for impurities.
Many Valeant investors have fled in recent weeks as the company was hit with drug pricing controversy, subpoenas and allegations that it used its relationship with specialty pharmacy Philidor to inflate its top line. But Bill Ackman's Pershing Square Capital Management has upped its stake in the company further.
All of the market buzz may center on Pfizer's $160 billion tax inversion deal to buy Allergan, but Teva Pharmaceuticals is really getting the market love.
Pfizer may be amped about its brand-new agreement to tie up with Allergan and move to tax-advantaged Ireland. But U.S. politicians? They're not so thrilled with the idea.
Novartis' blockbuster-in-waiting, Entresto, has been handed its second big approval. The new heart failure drug has snagged an OK from the European Commission.
Payers have complained loudly about the cost of next-gen hep C meds from Gilead and AbbVie, arguing that the drugs should be reserved for the sickest patients. But now insurers are facing some evidence to the contrary, as a new study shows that new hep C meds are cost-effective when taken in early stages of the disease.
In another striking FDA turnaround for Bristol-Myers Squibb's Opdivo, the agency has approved it for treating advanced renal cell carcinoma just a week after granting priority review.
Both Pfizer and Allergan have a history of doing "transformational" deals--and those can come along with serious layoffs. So now that they've joined hands in a $160 billion merger agreement, is there reason to expect any different?
The FDA has approved Takeda Pharmaceutical's Ninlaro, a treatment for multiple myeloma that the Japanese company hopes can get established before its blockbuster Velcade loses patent protection.
After finally turning back the long-running takeover attempt by Mylan, Perrigo assured shareholders they could expect "industry-leading future growth prospects." In its first move toward delivering on that promise, the OTC specialist said today it will buy the U.S. rights to AstraZeneca's Crohn's disease drug Entocort.
In the jockeying for share in the brand-new market for the specialized PCSK9 cholesterol-lowering meds, Amgen has picked up an edge over Sanofi by nailing a formulary exclusive with CVS. To get that preferred spot, Amgen has again agreed to tie the price of the drug to its effectiveness.
Novartis has been jockeying for additional uses for its next-gen psoriasis med, Cosentyx, hoping that a trifecta of indications will help generate blockbuster sales and distinguish the drug from its competition in a hot market. Now the med is moving one step closer toward achieving its blockbuster aspirations with an EU nod to treat patients with psoriatic arthritis and ankylosing spondylitis.
The agreement's been made: The boards at Pfizer and Allergan have ratified a megamerger--worth about $160 billion--that will create the world's biggest pharma company and send Pfizer overseas, the companies announced on Monday.
Even if Brent Saunders does not get the CEO role at Pfizer as a condition of Allergan agreeing to a buyout, which is reportedly being demanded, he will still get a huge payday from the deal. In the short time that he has been CEO of Allergan, Bloomberg figures he has collected shares and options that should allow him to cash out for nearly $190 million.