News

UAE forces pharma to cut prices on 280 meds as weak oil prices hit

SINGAPORE--Beginning next month, 26 international drugmakers will be earning less in the United Arab Emirates from many of their drugs. The companies negotiated a deal with the country's Ministry of Health in the latest reduction to drug prices, with one unfortunate product's price forced down by 55%.

Emerging Asian pharma markets poised to show solid growth in 2015: report

The emerging pharmaceutical markets of Asia are expected, with a few exceptions, to grow this year and beyond, most providing attractive platforms for investments in the local industries, according to a series of analyses.

Pfizer extricates itself from investor suit with $400M settlement

Pfizer got a federal judge to toss an investor lawsuit last year tied its now-withdrawn pain drug Bextra. But it wasn't the only investor suit raising similar issues, namely that the board had not been forthright about issues with the drugs. Another was just days away from trial, that is until the drugmaker agreed to settle it for $400 million.

Novartis eyes more cost-cutting moves to deliver faster-growing profits

Novartis is looking for big things as it doubles down in oncology, hives off vaccines, and teams up with GlaxoSmithKline on consumer health. It's looking for impressive results from its new meds, especially its forthcoming heart failure drug LCZ696 and brand-new psoriasis med Cosentyx. And it's thinking that these changes will help it bear the battering from generic competition.

J&J employee sniffs out spy camera in unisex bathroom

With all the info that's available online these days, the only place that might feel private is behind closed doors in the bathroom. Not so for some staffers at Johnson & Johnson in New York City, where an employee discovered a pinhole camera hidden inside a unisex bathroom. 

With generic losses on the horizon, Pfizer puts up a stormy 2015 forecast

Pfizer is forecasting 2015 earnings that ring in below the Street's expectations. But there could be some light at the end of the tunnel for Pfizer, as it posted promising performances for its cancer drugs and vaccine franchise.

Bristol-Myers braces for Abilify patent loss, predicting big sales drop for 2015

Bristol-Myers Squibb took a top-line hit in 2014, but that's mostly because it sold its share of a diabetes alliance to partner AstraZeneca. This year, it's looking for an even bigger slide--with no big divestment to blame.

Pharmaceuticals and biotech a backdrop to China-Taiwan economic talks

Pharmaceuticals and biotechnology per se are not officially on the agenda, but both industries could be affected by the semi-annual meeting of the Cross-strait Economic Cooperation Committee set for Jan. 29 in Taipei. Taiwan biotechs meet a week later.

Novartis Q4 profit slumps nearly 27% as sales take a hit

Swiss-based Novartis reported a nearly 27% drop in fourth-quarter profit on Tuesday as lower-than-expected sales hit the bottom line.

U.S., India make incremental IP headway during Obama visit

The summit meeting between President Barack Obama and India Prime Minister Narendra Modi resulted in no breakthroughs, such as on intellectual property, but did lead to about a dozen smaller agreements on various issues affecting the pharmaceutical industries.

Supreme Court pitches patent fight over Shire's Lialda after Teva ruling

The ripple effects from last week's Teva v. Sandoz ruling have begun. The U.S. Supreme Court sent three patent fights back to a lower court in light of that ruling, which ordered the Federal Circuit Court to defer to district-level findings on patent claims unless a "clear error" had been made.

Generic of AstraZeneca's Nexium finally hits the market with Teva getting FDA nod

For 9 months AstraZeneca has had the sales of its blockbuster heartburn drug Nexium protected by a bureaucratic dam that has kept generics from getting to market. But the agency opened the floodgates today, approving a copy from Teva Pharmaceutical Industries of the $3 billion seller.

Novo Nordisk puts 500 Saxenda reps on U.S. streets, aiming for $1B in weight-loss sales

Novo Nordisk has set its Saxenda target and enlisted its U.S. sales force. Now it just needs to follow through--and that won't be an easy task.

Gilead discounts hep C meds in Germany, offers new-and-improved generics deal in India

Gilead Sciences reportedly inked its first hepatitis C discount deals in Germany, and it's announcing a new offer to bring a Sovaldi follow-up to India even before it's approved in the U.S.

Actavis plunks down $460M for U.K. generics specialist Auden Mckenzie

On an acquisition trail, U.S.-based Actavis has snapped up Auden Mckenzie, a U.K. generics maker, for £306 million in cash plus royalties.

J&J again faces off-label marketing claims in Risperdal case of boy who grew breasts

Last week opening arguments were made in a case in which Johnson & Johnson is accused of marketing the antipsychotic drug Risperdal for use in young boys and then not sufficiently warning patients that the side effects for some included the possibility they would grow breasts like a woman.

Ready to spar with Pfizer's meningitis B jab, Novartis gets FDA green light for Bexsero

Novartis has long pinned its hopes on meningitis B shot Bexsero to revitalize its lagging vaccines unit. Now, the company is celebrating the product's FDA approval, even as it prepares to hand off the jab to GlaxoSmithKline in a blockbuster asset swap.

Deal-hungry Pfizer reportedly made a (failed) run at Teva. Who's next?

Two burning questions about Pfizer since the company backed off its ill-fated offer for AstraZeneca last May: Will the U.S.-based drug giant make another swoop at AstraZeneca? If not, who will Pfizer try to buy?

India's Sun Pharma looks ahead on verge of Ranbaxy deal approval

After seemingly taking forever, Sun Pharmaceuticals' $4 billion takeover of the embattled Ranbaxy Laboratories could win final approval as soon as Feb. 2 and close by midmonth. Seller Daiichi Sankyo will be glad to see it go. Sun remains cautious on the inside, more relaxed on the outside.

Celgene's Abraxane wins another OK in Europe

Celgene's Abaxane is one of those cancer fighters that has proven effective against many forms of cancer, and so the company has sought approvals far and wide, sometimes successfully and other times not. Now it has been recommended in Europe to treat lung cancer.