News

Biogen gets beaten up as slowing Tecfidera sales lead it to trim forecast

The speed bump that sales of Biogen's Tecfidera hit earlier this year, slowing its growth, has turned into a big old pothole and it has shaken investors pretty hard who have been on for the ride.

Shire CEO: We're prepared to wait for the right deal

The way Shire CEO Flemming Ornskov sees it, smart dealmaking could set Shire on track to join its Big Biotech peers and build out its portfolio in rare diseases. But even though a little M&A could go a long way in helping the company achieve its aspirations, Shire isn't going to settle for whatever comes its way.

Novartis whacks 3 Sandoz plants, 770 jobs, despite generic units' sales growth

A 10% revenue expansion in Novartis' generics unit Sandoz was one of the positives in the Swiss drugmaker's second quarter earnings, but it will not keep the drugmaker from closing three Sandoz plants next year and cutting about 770 jobs to improve margins even more.

The stichting strikes back: Mylan's Dutch foundation snaps up shares to block Teva buy

Wannabe acquirer Teva has built up a 4.6% stake in generics rival Mylan--and that's enough for the newly Dutch pharma. Mylan's independent foundation--known in Dutch as a stichting--has exercised an option to acquire shares that let it control 50% of the company, part of its plan to fend off a hostile takeover.

Forecast-beating Valeant ups 2015 guidance with fast-growing Xifaxan in mind

Valeant's M&A-focused business model may have its critics, but it came through for the company in Q2, helping it beat analyst estimates for both EPS and revenue.

Bristol-Myers smashes Q2 as hep C meds rake in overseas sales

Here's an earnings trend-buster: Bristol-Myers Squibb trounced expectations for the second quarter and hiked its full-year sales forecast by more than $1 billion.

Eli Lilly's Q2 beats the Street as newer products, animal health buy pitch in

Eli Lilly was standing at the bottom of a steep slope earlier this year, with slumping sales for older meds and a 2015 forecast that fell short of analysts' expectations. But CEO John Lechleiter predicted good things were ahead for the company, and now, it looks like Lilly has reached calmer waters. The drugmaker is raising its guidance, pointing to the success of new products and the animal health unit it picked up in January.

Roche clocks fast growth for new meds Perjeta, Esbriet as it girds for biosim rivalries

Roche isn't in denial about oncoming biosimilar competition for its top-selling cancer drugs. But CEO Severin Schwan says its new meds are on track to fill in the gap--and sales growth in the first half of the year go some way toward proving that case.

New obesity meds 'pretty safe,' but some side effects bear watching: AdverseEvents

An analysis by AdverseEvents shows the new generation of obesity meds are holding their own, safety-wise. Still, postmarketing data flag some serious cardiovascular and neuropsychiatric side effects that are worth monitoring, the healthcare informatics firm says.

Genzyme's Cerdelga success bodes well for Fabry prospect

Sanofi's Genzyme is testing an oral drug for Fabry disease, which would go up against its own Fabrazyme if and when it wins approval. But the company knows a thing or two about bringing new pills to market while keeping sales of older drugs intact.

CF specialists up in arms about $259K price for new Vertex med Orkambi

Vertex had a pretty good idea that drug pricing critics wouldn't be so keen on its $259,000-per-year tag for cystic fibrosis med Orkambi. And sure enough, less than three weeks after the combo med won the FDA's green light, the pushback is here.

Drugmakers like Gilead, Mylan and Novo--not Big Pharma--are job creators

With a couple of exceptions, including 12% job growth at AstraZeneca, little changed last year when it came to Big Pharma's employment numbers. But drop down to midtier players and the employment picture changes significantly, both in terms of how many jobs were added last year, and in one very notable case, how few.

Nonprofit snags $5.2M grant to investigate U.S. drug pricing

As drug costs continue to rise, payers and the public are calling for more transparency in how Big Pharma sets its prices for new meds. The benefits of the drugs do not outweigh their costs, some groups say, and more needs to be done to make sure companies are pricing accordingly. Now industry watchers have a new ally, as a nonprofit nabbed $5.2 million in private funding to investigate drug pricing in the U.S.

 

Should J&J break up? Get ready for a new round of debate

Johnson & Johnson has heard the advice before: Split up and reap the benefits. This time, it's CNBC's Jim Cramer making the call, and he figures the sum of J&J's parts would be 50% bigger than the whole is now. And he thinks an activist investor might step in and give J&J a push in that direction.

Bristol-Myers' next-gen HIV med gets FDA 'breakthrough' designation

Bristol-Myers Squibb nabbed a "breakthrough" tag from the FDA for its next-gen HIV therapy aimed at patients who become resistant to the drugs now in use.

Amgen's Neupogen won't face Novartis biosim till September: court

Novartis' Sandoz may have the first FDA-approved biosimilar in Zarxio, but it doesn't have permission to launch--and it won't be getting that until September, the country's top patent court ruled Tuesday.

Novartis CEO predicts a pharma pricing squeeze from insurer M&A

Worried that health insurers' urge to merge will put even more pressure on your prices? You're in good company. Novartis CEO Joe Jimenez agrees.

Horizon hikes Depomed offer to $2B in bid for 'friendly' deal talks

Don't get Horizon Pharma wrong. It intends to pursue Depomed as an M&A target whether the California company likes it or not. But it would prefer for Depomed to like it--and in an effort to spur a "friendly, negotiated transaction," it's raising its bid.

Actelion's Opsumit growth heralds smooth switch off aging Tracleer

Actelion has been prepping its new pulmonary arterial hypertension drug Opsumit to pick up the slack once the aging Tracleer goes off patent in November. And Opsumit seems poised for the job, raking in promising second-quarter numbers and prompting the company to boost its full-year guidance.

Novartis looks past dim Q2 results to new Glatopa, Entresto launches

Currency hits and a lagging devices business forced down a Big Pharma's second-quarter sales and profits. No, we're not talking about Johnson & Johnson, though the same was true of the U.S.-based health giant. This time, it's Novartis, whose Alcon eye unit proved a drag on strong pharma and generics performance.