News

NYT: Pfizer lobbied Missouri AG to win favorable off-label deal

In an investigative piece published this weekend, the New York Times fingered Pfizer lawyers for wining, dining and otherwise influencing an attorney general to get a favorable lawsuit settlement. Pfizer says the back-and-forth was all aboveboard and part of routine legal negotiations.

J&J eyes dealmaking in China to ratchet up pharma sales

Bribery and pricing investigations aren't scaring Johnson & Johnson away from China. CEO Alex Gorsky tells The Wall Street Journal that his company is expanding full speed ahead in the fast-growing emerging market--and is actively looking at deals there to boost pharma sales.

For sale: Bankrupt Dendreon and its laggard Provenge, for $275M or more. Any takers?

Struggling Dendreon has tried streamlining its manufacturing process for cancer vaccine Provenge. It's tried laying off hundreds of employees, cutting operating costs and raising capital. And it's tried putting itself up for sale. But no dice: The company is still swimming in a sea of debt that Monday spurred it to file for Chapter 11 bankruptcy protection.

Eisai 'speechless' after another Fycompa price smack-down from Germany

Germany's cost-effectiveness gatekeepers have delivered another blow to Eisai over the price of Fycompa. And the verdict, just the drugmaker's latest frustration over the epilepsy drug, has left it "speechless" and "dismayed."

FDA lets Endo, Dr. Reddy's make Valcyte copies but stays mum on status of Nexium generic

The FDA says it has approved two companies to make generics of Roche's Valcyte but will not give any clarity on plans for a generic of AstraZeneca's blockbuster Nexium after nixing earlier approvals for troubled Ranbaxy Laboratories to make both drugs.

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.