News

Sanofi lining up debt for possible deals

It looks like Sanofi-Aventis is preparing to get into the acquisition business. The Financial Times reports that Sanofi has been in talks with bankers about financing for possible acquisitions as it

FDA committee backs Lilly's prasugrel

FDA staff say Eli Lilly's long-delayed blood thinner prasugrel has clear benefits compared with other anti-clotting meds on the market, but its use may need to be restricted to curb the potential of

Report: GSK to reveal massive cuts

Though GlaxoSmithkline has yet to confirm the rumors, two papers are reporting that the world's second-largest drugmaker is set to eliminate between 6,000 and 10,000 jobs. The two UK-based

FDA committee backs Lilly's prasugrel

After months of delays, Eli Lilly and Daiichi Sankyo finally have word on the status of their anti-clotting drug prasugrel. An FDA advisory committee released a hefty briefing on prasugrel, ahead of

FDA experts to consider Darvon ban

Another set of pain pills faces possible extinction because of abuse: The FDA is asking an advisory committee to weigh in on whether to keep Darvon and Darvocet meds on the market. Darvon

Icahn makes play for Amylin control

Carl Icahn is at it again, and this time his target is Amylin Pharmaceuticals. The San Diego pharma--which is Eli Lilly's partner on the diabetes med Byetta--said Icahn Capital plans to nominate a

Pfizer to add Wyeth directors to board

A regulatory filing made yesterday reveals more juicy details about the Pfizer-Wyeth deal: Pfizer will add two Wyeth directors to its board, the Associated Press reports, and if Wyeth backs out of

Roche goes hostile in bid for Genentech

Fed up with waiting to take over Genentech, Roche not only went hostile with its bid for the California company--it lowered its offering price, too. Early today, Roche cut its bid to $42 billion--or

Lilly's U.S. chief defects to Glaxo

Eli Lilly's U.S. president is jumping ship to join GlaxoSmithKline as North American pharmaceuticals chief. That's right, Deirdre Connelly (photo), known for posing undercover as a Lilly sales rep,

GSK writes off $400M for off-label deal

It's a third strike for drugmakers facing off-label marketing probes: GlaxoSmithKline says it's taking a $400 million charge in the fourth quarter because of an investigation into its sales and

Pozen's shares soar as FDA approves study results

Chapel Hill, NC-based Pozen saw its stock soar Thursday on the news that the FDA accepted its primary endpoint for two late-stage clinical trials PN 400, its arthritis drug. PN 400, which is being

Prosecutor: Off-label promos 'must stop'

The feds are warning you: No off-label marketing, or else! Coming on the heels of two big settlements related to alleged off-label promos--Eli Lilly's $1.4 billion on Zyprexa marketing and Pfizer's

Lilly, Novartis sales flat; Novo's rise 15%

As promised, another raft of pharma earnings reports today, ranging from a $3.63 billion loss at Eli Lilly--because of its big acquisition of ImClone Systems--to a 138 percent hike in profits at Novo

FDA scientists: We're being targeted

We can imagine the movie script already: Honest scientists try to keep unsafe medical devices off the market, but big bad Big Brother quashes their efforts and brands them as criminals. The New York

1,000-plus lose jobs at Sepracor, Abbott

More sad-but-true statistics: Sepracor plans to slash 20 percent of its workforce, or 530 jobs. Another 410 contract sales jobs will be eliminated, too, for a grand total of 940 newly unemployed. And

AstraZeneca adds 7,400 to layoff toll

It's been a tough week for Big Pharma's rank-and-file. First, Pfizer said it would lay off 8,000 folks, and up to 20,000 if its Wyeth merger goes through. Now, AstraZeneca is doubling the size of its

Study: Zoloft, Lexapro beat other antidepressants

Doctors have long assumed that most antidepressants are interchangeable. But according to a new study, Pfizer's Zoloft and Cipralex/Lexapro, marketed by Forest Laboratories and Lundbeck, work

Genentech's stock hop

The price of Genentech stock went up yesterday afternoon, closing at $83.14 after climbing 1.9 percent. Perhaps we already are seeing a pharma comeback as the Pfizer-Wyeth merger progresses, and

NYT article considers Bristol-Myers strategy

The Bristol-Myers Squibb's "String of Pearls" initiative to buy small biotech companies, as well as the rights to market or develop drugs from other companies, might not be the best strategy for the

Pfizer-Wyeth deal: more questions than answers

The fires of debate are still blazing in the Pfizer-Wyeth purchase, with everyone from analysts and industry insiders to employees and shareholders weighing in on the $68 billion dollar deal.