News

England's price watchdog writes off Celgene's Imnovid in final guidance

The U.K.'s cost-effectiveness gatekeeper is singing an increasingly harsh tune when it comes to greenlighting cancer drugs, and Celgene's Imnovid is the latest med to get a thumbs-down from the watchdog.

UPDATED: Valeant, Shire prep Salix bids

Earlier this month, rumors started swirling that Valeant was talking with its advisers about a potential bid for North Carolina's Salix Pharmaceuticals. Now, it's reportedly one step closer to making that happen--but it may not be alone.

Teva 'likely' violated FCPA, local laws in Russia, Latin America and elsewhere

Teva has been investigating for some time whether its business practices abroad have breached the Foreign Corrupt Practices Act (FCPA) and/or local laws. And now, it says it's "likely" they have.

Shire set to grow in 2015, but don't expect a repeat of last year, it says

Shire has some hefty sales forecasts in place for 2020, when CEO Flemming Ornskov has said it'll be bringing in a $10 billion top-line haul. Now, after a monster sales vault in 2014, the company is nearly 60% there--but don't expect a repeat growth surge this year, it says.

Docs, drugmakers conspire on lucrative new doses of old meds: NYT

Behind the usual pharma scenes is a network of doctors, small drugmakers and distributors hawking new dosages of old drugs, a practice that allows physicians to dispense them and reap the profits by billing insurers directly.

Hedge funder's first assault on iffy drug patents? Acorda's MS med Ampyra

Last month, Texas hedge fund manager Kyle Bass said he had pharma and its "questionable" patents in his sights. Now, he's made his first move--and he's said 14 more targets will follow.

Bayer rolls up its sleeves for major reorg after plastics unit departs

After Bayer hives off its plastics business, it's going to remake the rest. The German conglomerate will merge its HealthCare and CropScience divisions into one life-science-focused company, and if sales are any indication, the health side of things will dominate.

Supplies of Roche's Tamiflu drained in HK as monthlong H3N2 outbreak hits

SINGAPORE--Hong Kong health facilities say a monthlong outbreak of H3N2 influenza has drained their supply of the drug they use for treatment, Roche's Tamiflu.

Tear up the rules and start again, Lancet panel says to India on drug safety

SINGAPORE--One of the world's most prestigious medical journals called for India to abandon its current proposal to change the way it regulates drugs and come up with a new plan.

Sanofi sees major China boost from heart, diabetes drugs, exec says

SINGAPORE--China sales of Sanofi's heart and diabetes drugs contributed heavily to sales growth in the country last year, with the market witnessing twice the growth of the rest of the world combined.

UPDATED: With hep C approval app, AbbVie eyes franchise growth in Japan

SINGAPORE--Here's some expansion news for AbbVie's hepatitis C franchise. The U.S.-based drugmaker has asked Japanese regulators to approve its antiviral cocktail, hoping to grab a piece of that market as it fights for share in the States.

India's Aurobindo Pharma eyes major earnings boost if U.S. FDA comes through on applications

SINGAPORE--Aurobindo Pharma's U.S. unit, AuroMedics Pharma USA, says that if the U.S. FDA manages to speed up its approval process for generic drugs in the coming fiscal year, its earnings could shoot up by half.

Hospira CEO Ball stands to reap $80M on Pfizer buyout

When Hospira's proxy was filed last year, CEO F. Michael Ball's $9.9 million in total compensation didn't even rank him among the top 15 highest paid biopharma execs. But with the $15 billion sale of his company to Pfizer, Ball will achieve that goal that CEOs strive for: the payout of the golden parachute. In his case, it is a package that adds up to more than $80 million.

AstraZeneca $7.9M kickback settlement shows risks of payer discounting

The U.S. Justice Department has slapped AstraZeneca for an alleged kickback scheme. The $7.9 million penalty is peanuts compared with Big Pharma's other marketing settlements--in fact, AstraZeneca's own settlement topped $500 million.

Sales slump for Reckitt pharma spinoff Indivior in its first-ever earnings release

Flying solo isn't always easy, as recent Reckitt Benckiser spinoff Indivior is learning firsthand. The drugmaker reported an 8% decline in 2014 revenues--and the pain won't end there.

Glaxo's new meds are finally grabbing market share--but can they keep it up?

Last week, GlaxoSmithKline CEO Andrew Witty told reporters something investors have long been hoping to hear: The company's respiratory newcomers are picking up steam.

Pfizer CEO thinks buys and swaps, with an eye toward future breakup

Pfizer CEO Ian Read not only isn't done with deals after his Hospira purchase; he's also looking at creative swaps, a la the Novartis-GlaxoSmithKline deals.

Can Valeant turn Dendreon's flailing Provenge into a viable cancer competitor?

The deadline to bid for Dendreon has come and gone, and now that no other qualified bids have come forward, Valeant is walking away victorious.

Gilead plots new hires, new commercial HQ in London

Gilead Sciences is setting up a new commercial headquarters in London, as a beachhead for growth in the U.K. and beyond. Together with expansions in R&D, the new HQ will double Gilead's work force in England to 600, with 400 of those employees based in London.

Think Allergan CEO's 'all-consuming' Valeant fight won't happen to you? Think again

Fending off a hostile bid last year from partners Valeant and activist investor Bill Ackman wasn't just a lot of work, according to Allergan CEO David Pyott. It was a full-time job.