FedEx has received a special delivery from the U.S. Department of Justice (DoJ), a 15-count indictment accusing it of being the delivery vehicle of choice for a certain kind of drug dealer. If convicted, the agency says FedEx could face penalties of $1.6 billion.
With a bid reaching nearly $55 billion and some goodies for the top execs, AbbVie was finally able to get Ireland-based Shire to surrender its independence, a portfolio of attention deficit hyperactivity disorder and rare disease drugs, and its low Irish tax base.
China has abruptly changed course on its plans to prosecute private investigator Peter Humphrey and his wife Yu Yingzeng in a closed trial. Now Humphrey and Yu, who were arrested last summer as part of China's investigation of bribery charges involving GlaxoSmithKline, will be tried in a public proceeding.
Valeant may be offering $53 billion for Allergan now. But that bid might not be on the table by the time 2015 rolls around, Bill Ackman, head of Valeant takeover partner Pershing Square Capital Management, told the Botox maker's shareholders on a webcast Thursday.
GlaxoSmithKline's bribery woes in China apparently go back a bit further than the $489 million scandal that broke last summer. The U.K. company has acknowledged that it fired about 30 staffers in its China vaccines business in 2001 after turning up evidence of corruption.
In its second FDA nod this week, Salix Pharmaceuticals won the go-ahead for Ruconest, its first-in-class treatment for a rare genetic disease, hereditary angioedema.
Take a look at Novartis' second-quarter results for reasons why it engineered that big asset swap-and-sale with GlaxoSmithKline and Eli Lilly. The two units Novartis is unloading, vaccines and animal health, delivered weak sales for the quarter, dragging the company's top line below expectations.
For the past 8 months, Novartis and its partners have been trying to sell the skin-patch maker LTS Lohmann. Two private equity firms appeared ripe for a potential $1.7 billion deal. But that didn't happen. Now, Novartis and the German investment firm BWK are selling their shares in LTS to fellow owner Dietmar Hopp.
The drug-pricing battle continues, but this time, Gilead Sciences' Sovaldi isn't at the center. That dubious honor goes to Vertex Pharmaceuticals' cystic fibrosis treatment Kalydeco. According to a lawsuit filed by three CF patients, Arkansas Medicaid officials are locking them out of Kalydeco treatment.
Pfizer said Wednesday that it would buy New Jersey-based InnoPharma, for $225 million in cash and up to $135 million in contingent milestone payments.
We know plenty of Big Pharma companies are hawking portfolios of old products. What we don't know is who might buy them. One answer came earlier this week, when Mylan said it would acquire an ex-U.S. portfolio of Abbott Laboratories meds in a $5.3 billion stock swap. Now, it might be Sanofi's turn--and Mylan and Abbott are part of that chatter, too.
What's #FOGO? Hint: Many of us have it. Another hint: Pfizer wants people to talk about it.
The FDA may be having problems handing down its social media commandments. But it's playing enforcer just the same.
OTC generics maker Perrigo could be the next tax-advantaged company in line for a buyout. And while Perrigo hasn't confirmed any M&A plans, speculation has been enough to send shares soaring.
For years Johnson & Johnson's consumer unit was an embarrassment to CEO Alex Gorsky. Instead of being able to point to its contribution to quarterly results, he instead found himself explaining recalls of key products like Tylenol and the unit's drag on earnings. But a turnaround is at hand, with the unit turning in 2.4% growth in sales in Q2, driven by a 9% increase in over-the-counter drugs.
As part of GlaxoSmithKline's post-bribery-scandal crackdown in China, it has tossed out employees whose expenses were "not compliant with company regulation." But now, three former employees say they were fired illegally--and they're fighting back in court.
The pharma sector in India is reeling after the National Pharmaceutical Pricing Authority said it's capping prices on about 100 drugs to treat diabetes and heart disease. And the company that could suffer most isn't India-based.
Merck wants to get its cattle feed additive Zilmax back to multimillion-dollar sales. But with lingering reservations from beef producers and sellers, that may be easier said than done--and competition is ramping up in the meantime.
The court fight over Pfizer's stomach drug Reglan (metoclopramide) has yielded another ruling in Big Pharma's favor. Once again, a U.S. court has ruled that branded drugmakers can't be sued for damages allegedly caused by generic versions of their drugs.
Roche's cancer blockbuster Avastin has yet another shot at boosting sales. The FDA put Avastin up for priority review in cervical cancer, with a decision date of Oct. 24.