News

Ackman, confident Valeant can outbid Actavis, suggests an Allergan auction

Now that Allergan has two interested buyers on its trail between Valeant and Actavis, leading shareholder and Valeant partner Bill Ackman has an idea: Run an auction.

WSJ: Salix inventory issues helped scuttle Allergan buyout

At one time, Allergan was so confident it could lock up an acquisition of Salix Pharmaceuticals to thwart Valeant's hostile bid that it reportedly snubbed potential white knight Actavis when it came calling. But those talks have long since stalled, and now, Salix is investigating an inventory blip that The Wall Street Journal's sources say was a dealbreaker.

Fresenius kills Russian partnership as political tensions escalate

Building political tensions between Russia and the West are making it increasingly difficult for drugmakers in the region, prompting Germany's Fresenius to dump a partnership there. The announcement comes as other drug companies have reported their businesses are under pressure in the area.

UCB joins pharma's slimdown craze, unloads U.S. generic drug business for $1.53B

Amid the pharma's slimdown craze, Belgium's UCB is getting in on the action by selling its U.S. generic drug unit for $1.53 billion.

Can J&J score sales with FDA's new Olysio-plus-Sovaldi approval?

Johnson & Johnson just scored a marketing goal: Its hepatitis C drug Olysio won FDA approval as part of a two-drug cocktail that also stars Gilead Sciences' Sovaldi. The question now is how much that approval will help Olysio withstand competition, both current and forthcoming.

FDA yanks Ranbaxy's tentative approval for generic Nexium

At about the same time that AstraZeneca CEO Pascal Soriot was telling investors its earnings had been boosted because no generic of blockbuster Nexium had appeared, Ranbaxy Laboratories was announcing bad news on that front for itself.

Billionaire Singer threatens to sue AbbVie over Shire breakup

A $1.64 billion breakup fee may have placated buyout target Shire after AbbVie pulled the plug on their $55 billion agreement. But investors? At least one may still be planning a little ax-grinding.

 

New numbers back old meme: Pharma does spend more on marketing than R&D

The BBC has some numbers sourced from GlobalData showing that 9 out of 10 Big Pharma companies do in fact spend more on marketing than on R&D. In some cases, that's twice as much.

Nexium reprieve lets AstraZeneca spend, spend, spend to prep for 2015 knockdown

AstraZeneca hiked its 2014 forecast for the second time this year. Sales were up by 5%. Instead of apologizing for a lack of growth, CEO Pascal Soriot could crow about the opposite. Revenue of $6.54 billion beat analyst estimates, and core EPS of $1.05 did the same.

UPDATED: Perrigo snaps up OTC specialist Omega in deal worth $4.5B

Perennial dealmaker Perrigo signed on the dotted line for Belgium's Omega Pharma, elbowing past rival bidders to expand its footprint in the global OTC market.

 

Roche, Celgene, BMS boast a place among orphan drug royalty

These days, the orphan drug business is a good place to win laurels. Which drugmakers are in line for the most impressive crowns?

Sanofi's U.S. sales team gets its close-up--and a promised makeover

Sanofi's U.S. diabetes sales team is under a worldwide spotlight--and not because it's time to take a bow.

J&J, Pfizer, Novartis are the in-demand pharmas among job-seekers, LinkedIn says

Hiring and keeping good employees is as much of a challenge in the drug business as it is anywhere else. So, it's always nice to know that would-be job seekers think your company is swell. Here's the latest gauge of drugmakers' status in the world of recruiting.

Zilmax is safe, Merck says. But will the meat industry buy it?

When it comes to cattle feed additive Zilmax, pulled from the market last year on concerning side-effect reports, there's nothing to worry about, Merck says. After a comprehensive review, the drugmaker has determined the product is safe when used according to its label. Now it just has to convince the meat-packing industry.

Actavis rides success of branded drugs and M&A to positive Q3

Actavis has been inking deals with Forest Laboratories and Warner Chilcott to get its hands on the companies' suite of branded products. Now, the company is celebrating the fruits of its labor with promising Q3 numbers and a slew of new deals on the horizon.

Allergan loses fight to block Ackman from voting for a Valeant takeover

Valeant and partner Bill Ackman have dodged a serious roadblock in their quest to acquire Allergan. A 9.7% roadblock, if you will.

French Smith & Nephew CEO Olivier Bohuon seen as solid pick for top Sanofi job

Olivier Bohuon, the CEO of artificial hip and knee maker Smith & Nephew may have a leg up over other potential candidates to take the reins of drugmaker Sanofi after the firing of Christopher Viehbacher last week. He has experience in pharma and has excelled at Smith & Nephew by moving it into new markets. Most importantly, he is French.

Almirall sends 719 employees to AstraZeneca as part of respiratory deal

AstraZeneca signed on the dotted line for Almirall, gaining access to the company's promising respiratory drug portfolio and products currently under development. But now job cuts are on the horizon for Almirall, as the company is slashing jobs and sending some of its employees to AstraZeneca as part of the deal. 

Here's a first: Regeneron cuts forecast after hard-charging Eylea sales miss

Here's something Regeneron isn't used to: Cutting sales forecasts for blockbuster eye drug Eylea. But that's just what the New York biotech did Tuesday amid lower-than-expected third-quarter results.

Actavis unit yanks another 94K Bystolic bottles as recall expands

Actavis nabbed a big portfolio of branded products when it bought Forest Laboratories earlier this year. But it also inherited a quality-control problem.