News

Roche CEO: No appetite for expensive megadeals here

Not every drug chief wants to ride the wave of M&A sweeping through pharma. Example: Roche CEO Severin Schwan, who says he'll stay in the shallows.

Animal health companies not exempt from FDA marketing regs, either

The FDA issued Paris-based AB Science a warning letter regarding its Kinavet-CA1 canine drug, intended for mast cell tumors in dogs, for allegedly boasting its off-label uses without approval.

Top officials at FDA's India office bolt after less than a year

FDA Commissioner Margaret Hamburg has urged India's drugmakers and regulators to get on board with international quality standards, while promising close cooperation from its expanded office there. But efforts are being hampered by the exit of top officials.

Valeant wants Allergan shareholders to see growth at Bausch & Lomb

Valeant, which is trying to overcome resistance from the management of Allergan for its $53 billion buyout offer, has filed a new presentation with the SEC in preparation for an investor meeting.

FedEx indicted for delivering drugs to addicts from illegal web pharmacies

FedEx has received a special delivery from the U.S. Department of Justice (DoJ), a 15-count indictment accusing it of being the delivery vehicle of choice for a certain kind of drug dealer. If convicted, the agency says FedEx could face penalties of $1.6 billion.

AbbVie finally gets Shire, its low tax base and enough new drugs to protect its future

With a bid reaching nearly $55 billion and some goodies for the top execs, AbbVie was finally able to get Ireland-based Shire to surrender its independence, a portfolio of attention deficit hyperactivity disorder and rare disease drugs, and its low Irish tax base.

China allows trial of investigators of GSK sex-tape scandal to go public

China has abruptly changed course on its plans to prosecute private investigator Peter Humphrey and his wife Yu Yingzeng in a closed trial. Now Humphrey and Yu, who were arrested last summer as part of China's investigation of bribery charges involving GlaxoSmithKline, will be tried in a public proceeding.

Ackman to Allergan shareholders: Valeant's offer won't last forever

Valeant may be offering $53 billion for Allergan now. But that bid might not be on the table by the time 2015 rolls around, Bill Ackman, head of Valeant takeover partner Pershing Square Capital Management, told the Botox maker's shareholders on a webcast Thursday.

New scrutiny for GlaxoSmithKline after news of 2001 bribery-related housecleaning in China

GlaxoSmithKline's bribery woes in China apparently go back a bit further than the $489 million scandal that broke last summer. The U.K. company has acknowledged that it fired about 30 staffers in its China vaccines business in 2001 after turning up evidence of corruption.

Salix scores another FDA green light with approval for angioedema med Ruconest

In its second FDA nod this week, Salix Pharmaceuticals won the go-ahead for Ruconest, its first-in-class treatment for a rare genetic disease, hereditary angioedema.

Novartis sales flag on Diovan generics, but CEO promises cost cuts will fuel profits

Take a look at Novartis' second-quarter results for reasons why it engineered that big asset swap-and-sale with GlaxoSmithKline and Eli Lilly. The two units Novartis is unloading, vaccines and animal health, delivered weak sales for the quarter, dragging the company's top line below expectations.

Novartis offloads share of LTS Lohmann to SAP billionaire Hopp, gaining $400M

For the past 8 months, Novartis and its partners have been trying to sell the skin-patch maker LTS Lohmann. Two private equity firms appeared ripe for a potential $1.7 billion deal. But that didn't happen. Now, Novartis and the German investment firm BWK are selling their shares in LTS to fellow owner Dietmar Hopp.

Arkansas stiff-arms CF patients seeking Vertex's $300K drug Kalydeco: WSJ

The drug-pricing battle continues, but this time, Gilead Sciences' Sovaldi isn't at the center.  That dubious honor goes to Vertex Pharmaceuticals' cystic fibrosis treatment Kalydeco. According to a lawsuit filed by three CF patients, Arkansas Medicaid officials are locking them out of Kalydeco treatment.

Pfizer joins crowd of companies snapping up sterile injectable players

Pfizer said Wednesday that it would buy New Jersey-based InnoPharma, for $225 million in cash and up to $135 million in contingent milestone payments.

Reuters: Sanofi in $8.5B sell-off talks with Mylan, Abbott, private equity

We know plenty of Big Pharma companies are hawking portfolios of old products. What we don't know is who might buy them. One answer came earlier this week, when Mylan said it would acquire an ex-U.S. portfolio of Abbott Laboratories meds in a $5.3 billion stock swap. Now, it might be Sanofi's turn--and Mylan and Abbott are part of that chatter, too.

Pfizer amps up its 'Get old' campaign with more content, more social media

What's #FOGO? Hint: Many of us have it. Another hint: Pfizer wants people to talk about it.

FDA garbles social media education, but social media discipline is clear enough

The FDA may be having problems handing down its social media commandments. But it's playing enforcer just the same.

Dublin-based Perrigo could be up next for a tax-inversion deal

OTC generics maker Perrigo could be the next tax-advantaged company in line for a buyout. And while Perrigo hasn't confirmed any M&A plans, speculation has been enough to send shares soaring.

J&J's new fixer turns consumer division back into a profit center

For years Johnson & Johnson's consumer unit was an embarrassment to CEO Alex Gorsky. Instead of being able to point to its contribution to quarterly results, he instead found himself explaining recalls of key products like Tylenol and the unit's drag on earnings. But a turnaround is at hand, with the unit turning in 2.4% growth in sales in Q2, driven by a 9% increase in over-the-counter drugs.

Ex-China staffers sue GSK for 'illegal' termination amid bribery scandal

As part of GlaxoSmithKline's post-bribery-scandal crackdown in China, it has tossed out employees whose expenses were "not compliant with company regulation." But now, three former employees say they were fired illegally--and they're fighting back in court.