Novartis beat profit estimates for the first quarter, partly because of the big deal closing with GlaxoSmithKline March 2. Now, CEO Joe Jimenez says the Swiss drugmaker is back on the dealmaking trail.
Eli Lilly faced its fair share of problems last year, struggling with slumping sales and patent expirations for two of its bestselling products. But Lilly is celebrating a bright point, bringing in Q1 2015 numbers boosted by the success of its recently acquired animal health unit.
Novo Nordisk says its new drug Saxenda has a niche in the U.S. obesity market. Now, the Danish drugmaker has the chance to prove it. Saxenda is rolling out across the country as we speak, and at a premium price.
While pharma's been riding its deal wave, Gilead's been off on its own, coasting on new revenue from blockbuster hep C launches Sovaldi and Harvoni. But one analysts thinks the time is ripe for it to get in on the M&A action--and he's tabbed Vertex as a prime target.
Getting too much of the pain reliever acetaminophen can be a serious issue, particularly for people with liver damage, and so U.K.-based Reckitt Benckiser thinks it best to recall 1.5 million bottles of Mucinex in the U.S. whose back labels don't match the front.
Rumors of a Teva-Mylan merger have swirled for weeks, and now that Teva's bid has actually arrived, the talk is heating up even more. Everyone has an opinion--Mylan and Teva included--and those opinions are all over the map. Strategic or not? Legally possible or not? At what price might Mylan be willing to talk? And could Mylan persuade the reluctant Perrigo to take its (defensive) $29 billion offer?
Conventional thinking is that the complexity of biosimilars will keep their discounts to just 20% to 30% of the branded price. Think again. In Norway a biosimilar of Merck's arthritis blockbuster Remicade is going for a discount of nearly 70%, upsetting conventional wisdom and competitors.
Bad news for Mylan if it wants to avoid a $40 billion takeover by generics rival Teva: Its own acquisition prospect, Ireland's Perrigo, isn't interested in getting together.
Investors like pharma M&A. Drugmakers have money--or access to it. Ergo, look for the dealmaking frenzy to continue, a Morgan Stanley equity strategist says. The pharma industry accounted for 45% of U.S. M&A so far this quarter, Bloomberg reports, and at least 20% of the value of all offers over the last two quarters.
Texas hedge funder Kyle Bass says he's going after drug patents because the pharma industry milks the healthcare system by "evergreening" drug patents. But now, Bass and his Coalition for Affordable Drugs are challenging a patent on Imbruvica, the Johnson & Johnson and Pharmacyclics cancer treatment that was just approved in 2013. Is that evergreening?
Actelion hasn't been too keen on becoming an M&A target lately. But if it's the one in the driver's seat? Bring on the deals, CFO André Muller says.
Sky-high prices for rare disease drugs have triggered pushback from European lawmakers, with countries such as Germany and France waging battles to bring down the cost of the meds. Now two countries are taking a different approach to price negotiations, using their collective clout to purchase the drugs.
Teva Pharmaceutical Industries will fork over a record-breaking $512 million to wrap up claims that it paid generics makers to keep cheap copies of Provigil off the market. As a single settlement, it's big news for Teva. As a potential precedent in other pay-for-delay cases, it's a big deal for the rest of the pharma industry.
The rumors are true: Teva does indeed have eyes for Mylan. And after months of speculation, its bid is here.
Eli Lilly's closely watched autoimmune treatment ixekizumab met its main goals in a Phase III psoriatic arthritis trial, rolling toward an FDA application and a shot at competing in a fast-crowding space.
Daiichi Sankyo has had enough of trying to make money in the Indian generic drug industry. The Japanese drugmaker, which faces patent cliff issues, is selling off its stake in Sun Pharmaceutical just weeks after it closed on the all-stock deal selling Ranbaxy Laboratories to Sun for $3.2 billion.
This past season's flu vaccines posted one of the worst efficacy rates in recent memory. That's partly because the viral strains they contained weren't the ones that ended up circulating. But on top of that, GlaxoSmithKline has uncovered some other effectiveness problems of its own--and now it's recalling a quadrivalent jab in a move that affects 1.7 million doses.
Pfizer racked up an important win in the first trial over Zoloft's alleged links to birth defects. A St. Louis jury decided on Friday that the drug giant isn't liable for congenital abnormalities in a boy whose mother took Zoloft during her pregnancy.
The pink slips are flying at Allergan once again. Recently bought by Actavis in a $66 billion deal, the company is preparing to lay off 577 more workers in a cost-cutting drive that started last year and won't end till its new head honchos finish squeezing savings out of the combined company.
Those Mylan-Teva tie-up rumors just won't go away, and now, reports say the Israeli drugmaker is weighing a play for its generics rival. But make no mistake, Mylan said Friday: It wants to keep flying solo, and that includes wrapping up some M&A of its own.