Novo Nordisk, the world leader in insulin products, took a big hit this year when the FDA denied approval of its newest long-lasting insulin drug, Tresiba. But CEO Lars Rebien Sørensen is taking every opportunity to let the markets know that Novo has lots of growth in its business.
Just weeks after selling its blood-transfusion business and announcing a new strategy focusing on pharmaceutical development, Novartis is reportedly opening the books on its animal-health business to potential buyers. Bayer may be the top suiter.
Pfizer likes the growth potential in the over-the-counter niche, and so it keeps piling new products onto the unit from around the world, ignoring investors who would like to it unload the business and share the wealth.
Japanese drugmaker Eisai is cutting its R&D operations, with plans to eliminate 130 positions from its facility in Andover, MA, as well as other research centers around the world.
Merck two months ago laid out plans for its fourth restructuring in 5 years, saying it would whack 8,500 jobs from its R&D and commercial operations and cut $2.5 billion in costs globally. And global the cuts have been, with 130 jobs being targeted at its women's healthcare production plant in Swords, Ireland in the next 6 months. The rest of the 570 jobs at the plant are to go by the end of 2017.
Analysts two weeks ago predicted Forest Laboratories' new CEO was going to have to do something dramatic after the FDA gave a thumbs down to the antipsychotic drug cariprazine. The drug was supposed to help make up for Lexapro falling off the patent cliff. The company didn't disappoint, Monday rolling out a $500 million job-whacking and cost-saving plan, as well as a $400 million share buyback program.
Japanese drugmaker Takeda Pharmaceuticals saw an era end last year when generic versions of its top seller, diabetes drug Actos, hit the market. Now it is trying to usher in a bold new era by giving a non-Japanese executive a shot at being CEO at a particularly difficult time.
GlaxoSmithKline CEO Andrew Witty is on his first trip to China since authorities there alleged his company funneled $490 million in bribes to doctors. Despite the scandal, GSK says it remains committed to doing business in China.
There is growth in manufacturing sterile injectable drugs and a trend toward using prefilled syringes. India's Gland Pharma does both, and investment group KKR finds that an enticing proposition. KKR India has taken a minority stake in the drugmaker, investing $200 million, buying out the entire stake held by Evolvence India Life Sciences Fund.
It's the time of year when the days are short and dark, bears are hibernating, fires are burning and people are exclaiming, "Where did the year go?" Alas, we can't answer that question. What we can offer are a few hints about how the year went. Five hints, to be exact, in the form of FiercePharma's 5 best-read stories of 2013.
The Obama administration says Medicare drug discounts have saved U.S. recipients $8.9 billion so far in prescription drug costs. Of course, the more they save, the less drugmakers earn, since they are the ones having to pony up the discounts, which the Obama administration is looking to make even larger.
Drugmaker GlaxoSmithKline is sending R&D folks into new areas to look for drugs, launching satellite innovation centers in Cambridge, MA, and San Diego.
Teva Pharmaceutical Industries hasn't had much good news to share lately. Today, it had a little something to crow about: The FDA has granted orphan status to its cancer-fighting drug, Treanda.
Most drugmakers say mergers are what they need to become bigger and more profitable. South Africa's Adcock Ingram say it needs a proposed merger just to survive.
FDA Commissioner Margaret Hamburg is slated to travel to India soon, and she will have lots to talk about--like all of the Indian plants the FDA has banned from exporting to the U.S. The agency Tuesday hit a second Wockhardt facility with a so-called import alert that prevents it from selling products into the U.S.
Italian drugmaker Menarini is looking to grow its operations in India. It is bringing some new products to market there but would like to buy some established drug brands if it can find them at the right price.
A morning-after contraceptive pill sold in Europe may not work in women who weigh more than 176 pounds, regulators there said, triggering an FDA review of Teva Pharmaceutical's PlanB One-Step product and its generic versions.
A new study in JAMA Pediatrics finds that sex and money each play a role in U.S. parents' reluctance to vaccinate their children against the human papillomavirus. But a lack of easy-to-understand information about the shots--and often, the lack of a doctor's clear recommendation for them--are also helping to depress vaccination rates.
Two buyout firms are duking it out for LTS Lohmann, a drug-patch maker partly owned by Novartis, Reuters reports. Now that the dust has settled on first-round bids, which were due last month, Wendel and Nordic Capital are still in the running for a deal worth about $1.6 billion.
When Bayer CEO Marijn Dekkers stepped into the job in 2010, he had a trove of cash, and he promised to spend a big chunk on deals. A $23 billion chunk, in fact. Since then, the German conglomerate hasn't exactly been audacious in the M&A arena. Bayer has snapped up a healthcare company or three, but it's quick to back away if a price gets too rich.