News

J&J chief paid $23M; Amgen's got $14.5M

We'll pause in our regular M&A programming for an executive pay news flash: Johnson & Johnson CEO pulled down $23 million in 2008, an 8 percent decrease. And Amgen chief Kevin Sharer got

Finally, Roche and Genentech make a $47B deal

Persistence pays. After months of trying to persuade Genentech to just give in already, Roche has done its deal. Genentech agreed to a $46.8 billion buyout at $95 per share. The two companies sent

Drugmakers feel impact of preemption ruling

Previously rejected by the U.S. Court of Appeals for the Third Circuit in Philadelphia, lawsuits against GlaxoSmithKline and Pfizer were revived this week. Brought by relatives of patients who

No word from Genentech as drug data piles in

Hear that? It's the sound of silence coming from Genentech headquarters. Five days after Roche raised its bid for the company to $93 per share--and two days after reports that they'd agreed on a

White House looks to foil FDA-chief debate

The word on leadership at FDA is solidifying: The Wall Street Journal confirms with its own sources that former New York health commissioner Margaret "Peggy" Hamburg will be tapped to top the agency,

Can $1.25B deter a Schering bidding war?

Breaking up could be hard to do for Merck and Schering-Plough--even if Schering got a better offer elsewhere. Walking away from the deal would cost Schering $1.25 billion under the two companies'

Influential doc faked pain studies, hospital says

In the annals of fakery, it's quite an accomplishment: Massachusetts anesthesiologist Scott S. Reuben allegedly pulled data for 21 drug studies out of thin air. Published between 1996 and 2008, the

FDA cites "objectionable conditions" at Genzyme plant

The FDA has issued Genzyme a warning letter due to "significant objectionable conditions" inspectors found at a company plant. The Boston site is where Genzyme produces many of it's expensive drugs,

European drugmakers sit out M&A dance

Analysts have been predicting consolidation among biotech and pharma companies for some time now. And the major players haven't disappointed. First there was Pfizer's surprise buyout of Wyeth, then

J&J is the elephant in Merck's board room

Who holds the cards in the Merck/Schering-Plough deal? Johnson & Johnson. Yep, J&J partners with Schering on Remicade, and their deal has certain (ahem) provisions triggered by a Schering

What's the next pharma deal? Fill in the blank

Dealmaking fever is contagious. That's gospel according to Wall Street, which starts thinking about the next merger as soon as the latest one hits the media. So we shouldn't be surprised that the

$60M goodbye for Schering's Hassan?

When we heard yesterday that Schering-Plough CEO Fred Hassan (photo) would be moving on after his merger with Merck is done, we asked ourselves the obvious follow-up question: how big is his golden

GSK plots big launches in emerging markets

GlaxoSmithKline is preparing to launch its smoking-cessation products in as many as 20 new emerging markets--including China, India and Russia--in another sign of the British drugmaker's desire to

Merck, Schering to cut 16,000 post-merger

Merck CEO Dick Clark spoke a figure, and around the world, people started worrying. That figure was 15 percent--the estimated job cuts attendant on his company's merger with Schering-Plough. With a

Report: Roche, Genentech agree on $95 price

Maybe Roche was unwilling to cede the deal spotlight to Merck and Schering-Plough. Whatever the motivation, news has leaked to the Wall Street Journal that the Swiss drugmaker is close to its

Reports: Roche raises DNA offer to $95 a share

Genentech's board may be ready to seal the deal after all. Although the company urged shareholders to sit tight after Roche uppeds its bid to $93 a share on Friday, the Wall Street Journal is

Sanofi plucks new CFO from outside pharma

Sanofi-Aventis has a new CFO, starting next week: Jerome Contamine, a former exec at Veolia Environment, will move into the finance office as of March 16. His charge, according to a statement from

Merck execs pull down $36M in pay

Just in time to be overshadowed by news of the company merger with Schering-Plough, Merck filed its SEC disclosure on executive pay. The gist? Top managers snared a total of $36 million in

RPM: Hamburg to head FDA with Sharfstein deputy

Word on the street says the White House is close to naming former New York City Health Commissioner Margaret Hamburg (photo) as FDA chief. Baltimore Health Commissioner Joshua Sharfstein (

Merck nabs Schering-Plough in $41.1B deal

Sometimes, speculation is more than just an intellectual exercise. After months of encouragement from would-be corporate matchmakers, Merck agreed to pair up with Schering-Plough in a deal worth