News

Mylan, Stada, Dr. Reddy's drugs suspended after contractor's trial failures

U.S. drugmaker Mylan, Germany's Stada, India's Dr. Reddy's Laboratories and Unichem Laboratories are among 16 drugmakers who have had dozens of generic meds sidelined by German regulators who raised questions about bioequivalence tests.

Mylan shells out $32.5M to execs to handle inversion-deal excise taxes

Mylan is charging full speed ahead with its $5.3 billion acquisition of Abbott Laboratories' overseas generics business. The drugmaker will shell out $32.5 million to 5 of its top executives ahead of schedule to avoid a tax penalty meant to discourage companies from shifting their domicile abroad.

Kiss more pharma jobs goodbye: Pierre Fabre to cut 550 in sales, R&D

Pierre Fabre's R&D operations have been less than productive, executives say, and sales in its home country have suffered from price cuts. So, it's scaling back in pharma to narrow its R&D focus, build up in consumer healthcare and spend more resources on its cosmetics and dermatology businesses.

Get-tested lung cancer campaign delivered 'surprising' number of new diagnoses

A new study shows that awareness campaigns can work--and work well. During a three-month push for lung cancer testing in the U.K., primary care doctors referred more than 3,000 extra patients to get tested. About 700 were diagnosed with lung cancer.

Valeant temporarily swears off dealmaking to cut debt--and prove it's not desperate

After serial acquirer Valeant lost a months-long takeover battle for Allergan, many industry-watchers expected the company to restore its dealmaking reputation with another quick pickup. But the Canadian pharma may be heading in the opposite direction.

J&J discount offer wins NICE over to new use for Stelara

The National Institute for Health and Care Excellence decided to reverse course on a new use for Johnson & Johnson's anti-inflammatory drug Stelara, thanks to a new discount offer.

Long-term painkiller use on the rise, with more patients taking dangerous combos

A new study shows that patients who are prescribed opioids continue to use them over a long period of time, indicating potential abuse and adding fuel to the fire as lawmakers and industry groups continue to crack down on companies producing the drugs.

AbbVie's Humira competition begins with Cadila's biosimilar launch in India

Indian drugmaker Zydus Cadila has launched a biosimilar of Humira in its home market--the first in a long line of in-development copies to threaten AbbVie's powerhouse med.

UPDATED: Did Merck pay $3B too much for Cubist? Weighing the impact of Cubicin patent loss

Merck may have to rethink its math on the Cubist buyout. Announcing the $9.5 billion transaction Monday, the company pointed to an earnings bump beginning in 2016. But later in the day, a U.S. court nixed all but one of the patents covering its top seller, Cubicin--and that patent expires in 2016.

Prepping for big heart drug launch, Novartis cuts 200 primary care sales staffers

Even a megablockbuster launch isn't enough to save Novartis sales reps targeted for job cuts. The company is laying off 200 primary care sales folks in New Jersey as it rejigs its sales operation and prepares to launch LCZ696, a hotly anticipated heart failure drug.

Flu-strain mutation unlocks sales opp for antiviral makers Roche, GSK

The flu season's most common viral strain has mutated, meaning this year's shots may not fully protect against it. But the so-called "drifted" strain may open up an opportunity for antiviral makers like Roche's Genentech and GlaxoSmithKline, with the CDC urging earlier use of anti-flu drugs to combat potentially severe symptoms.

European watchdogs pull Mylan, Abbott generics on contractor's data problems

Here's another black mark against the pharma industry in India. European regulators are barring a slate of generic drugs whose approvals relied on data generated by India's GVK Biosciences. The treatments weren't named, but they include products sold by a variety of drugmakers, including U.S.-based Mylan and Abbott Laboratories.

Genentech's top-billing Lucentis users are also top-paid speakers: NYT

How did Genentech persuade physicians to switch from $50-a-dose Avastin to $2000-a-dose Lucentis? According to The New York Times, consultation payments may have had something to do with it.

AstraZeneca scores a victory in pay-for-delay Nexium case

Last year, the U.S. Supreme Court slapped the industry with an unfavorable pay-for-delay verdict, ruling that consumers have the right to challenge brand-name drugmakers' patent settlements with generics companies. Now, in what could become a bellwether case for the industry, AstraZeneca scored a victory federal court as a jury found that the company's deal with Ranbaxy Laboratories to delay a generic launch of its heartburn med Nexium was not anticompetitive. 

 

Merck adds heft to hospital biz with $9.5B Cubist buyout

Merck & Co. is betting almost $10 billion on beefing up its antibiotics business. The U.S. drugmaker said it agreed to buy Cubist Pharmaceuticals for $102 per share, or about $8.4 billion, plus $1.1 billion in net debt, for a total transaction value of $9.5 billion. The buyout is part of Merck's plan to zero in on its most promising businesses and scale back the rest.

Sanofi Chairman says French tax burden a killer for attracting execs

Sanofi Chairman Serge Weinberg, who must replace Chris Viehbacher after ousting the outspoken CEO, has publicly expressed his own exasperation with France, saying its high taxes have made it hard to attract talent.

Long-acting Copaxone to launch early next year in Europe, Teva says

Teva has already surprised analysts with the success it's had converting patients from multiple sclerosis star Copaxone to a new, long-acting version. And now, the company is preparing to take the med to Europe.

With Pfizer on the loose, traders worry Actavis-Allergan M&A saga isn't over yet

With a months-long hostile pursuit from Valeant and failed talks to buy North Carolina's Salix, Allergan had already been on an M&A roller coaster this year before finally agreeing to sell itself to Actavis last month. And options traders, for one, are afraid the ride's not over yet.

More turmoil in top ranks of Sanofi's diabetes business

Weakening sales in Sanofi's U.S. diabetes franchise are not only hammering its top line, they're roughing up its executives ranks. Shortly after former CEO Chris Viehbacher got canned, in part, for an unexpected announcement about how diabetes drug sales would be soft next year, a vice president of sales in the U.S. left Sanofi.

Reckitt CEO, nearing spinoff, thinks he can outdo Big Pharma in consumer health

As shareholders gear up to vote on Reckitt Benckiser's plan to spin off its ailing pharma division, company execs are gearing up to double down on consumer health. And though a handful of pharma heavyweights are targeting the field with renewed focus, the British OTC giant believes it has the edge.