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%.
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Pfizer got a federal judge to toss an investor lawsuit last year tied its now-withdrawn pain drug Bextra.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 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.
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.
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 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 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.
Swiss-based Novartis reported a nearly 27% drop in fourth-quarter profit on Tuesday as lower-than-expected sales hit the bottom line.
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.
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.
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 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 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.
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.
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.
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.
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?
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 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.