Shanghai Pharma, one of China's largest drugmakers, said it is investigating whistleblower claims that it bribed hospital staffers to amp up sales of its drugs. According to allegations reported in the Chinese media, a Shanghai subsidiary spent 766,500 yuan ($126,200) on bribes between January and June of this year.
Former InterMune CEO Scott Harkonen is at the end of the legal line. The Supreme Court declined to take up his appeal, and so his conviction for wire fraud--related to a drug-trial press release--will stand.
GlaxoSmithKline is tossing out the Big Pharma marketing playbook. No longer will Glaxo pay doctors to promote its drugs or shell out bonuses to sales reps based on their ability to boost prescription numbers.
In July, Amy Schulman looked to be one of the most powerful women in Big Pharma. As part of CEO Ian Read's plan to split Pfizer's internal operations into three distinct units, he tapped Schulman to lead the company's vaccines, oncology and consumer healthcare business. Now, Schulman is out.
Should Novartis sell off its Roche stock, and soon? That's the question Bloomberg poses, now that Roche's voting shares are selling at a big discount to its nonvoting stock. With Novartis weighing all its operations for sale, spinoff, joint venture--what have you--the bet is that CEO Joe Jimenez will liquidate the Roche shares, too.
Spanish drugmaker Almirall is extending its global sales reach by picking up U.S.-based Aqua Pharmaceuticals for up to $400 million. The deal bolsters Almirall's presence in the red-hot dermatology field to boot.
Is the huge rise in attention-deficit hyperactivity disorder diagnoses a pharma coup or public-health boon?
Valeant Pharmaceuticals has added another $250 million deal to its buyout tally, with a $250 million bid to buy Solta Medical, a maker of dermatological treatment devices. And Endo Health Solutions has agreed to pay up to $220 million for NuPathe and its brand-new migraine treatment Zecuity.
More new drugs. More drug sales? Not so much. As The Wall Street Journal reports, pharma companies racked up 271 new drug approvals from 2006 to 2010, but only a baker's dozen of them have broken through the blockbuster barrier.
GlaxoSmithKline CEO Andrew Witty says he's a "huge bull" on India, despite the ongoing patent-rights tug-of-war between foreign drugmakers and domestic officials. Now, Witty is putting another $1 billion where his mouth is.
After agreeing this month to allow the U.S. FDA to send more people there so it can boost its oversight of drug production, Chinese authorities this weekend reported rounding up 1,300 suspected counterfeiters and confiscating $362 million worth of fake drugs and raw materials.
There's nothing like cold, hard cash in your pocket, and that fact may be enough to derail CFR Pharmaceuticals' takeover bid for South Africa's Adcock Ingram. Adcock's top shareholder has rejected a sweetened cash-and-stock offer from CFR, opening a window for rival bidder Bidvest Group to push its counteroffer through.
Roche will use its diagnostic test for Perjeta and Kadcyla to identify patients best suited for the treatments
It will allow doctors to spot patients who will benefit from those treatments.
AstraZeneca and Bristol-Myers Squibb look to be feeling good about the future of their diabetes drug Forxiga. The drugmakers have yanked the diabetes treatment from the market in Germany because they couldn't get the reimbursement they wanted from medical insurers. The nose-thumbing move came the day after an FDA panel recommended the drug for approval in the U.S.
Emergent BioSolutions, already the go-to company for anthrax vaccines, will buy Cangene Corp. for about $222 million, adding to its stable of biodefense contracts and picking up a contract manufacturing business that can kick in some additional revenue.
After rolling out its weight-loss drug Qsymia solo, a move that spurred plenty of shareholder discontent, Vivus is taking marketing partnerships for erectile dysfunction drug Stendra seriously. Thursday, it announced a deal with Sanofi that covers licensing and commercialization in emerging markets.
Workers at the plant in Mississauga, Ontario, got the news that layoffs will begin in May and operations will wind down by the end of next year.
India's Elder Pharmaceuticals, which a host of Western drugmakers were rumored to be interested in, will remain Indian owned. Torrent Pharmaceuticals will acquire the domestic business of Elder, relieving its debt situation and satisfying critics of growing foreign ownership of Indian drugmakers.
Bristol-Myers Squibb agreed to license its HIV fighter Reyataz (atazanavir) to the Medicines Patent Pool, which will allow generics makers to turn out cheaper copies for sale in poor countries.
The FDA approved a powerful new painkiller from Zogenix despite opposition from its own advisory panel. Now, attorneys general from 28 states have jumped in to ask the agency to reconsider.