News

Drug stocks suffer on Obama budget

Big Pharma says, "Thanks, Mr. President." Drug stocks are suffering after President Obama released his proposed budget yesterday, because of its provisions for possible re-importation of less

Unsealed documents raise Seroquel questions

AstraZeneca told sales reps to downplay the risk of diabetes in patients taking its antipsychotic drug Seroquel, newly unsealed court documents show. "Our objective is to neutralize customer

Genentech's side of the dealmaking story

Wonder what Genentech's thinking about Roche these days? Tune into Monday's investor webcast to find out. The company is expected to explain why it's urging stockholders to reject Roche's

After CA tort decision, Reglan gets black box

FDA is slapping a black-box warning on Reglan (metoclopramide) drugs, widely used by patients with chronic heartburn and other gastrointestinal disorders. Originated by Wyeth, the tablet form was

Merck chief's 2008 pay ticks upward

Merck CEO Richard Clark (photo) got a $200,000 pay raise in 2008, barely a bump compared with the big hike in compensation he enjoyed in 2007. But that growth still beats the raise he'll get for

FDA warned tainted syringe maker

FDA sent a warning letter to a North Carolina syringe manufacturer, notifying of "several significant violations" in its quality control system, two years before its needles triggered an outbreak of

Has Pfizer settled the Trovan case?

Contradictory news out of Africa and India today on Pfizer's big court fight with Nigeria. As you know, the drugmaker has been wrangling with the Kano state government and civil plaintiffs over a

$1.15B project allows FDA to centralize

In the great chess game of managing the government's properties, the FDA is consolidating its previously scattered labs and offices to a former Navy site in White Oak, MD. The $1.15 billion

Roche adds another $14B to war chest

Roche's cache of cash is growing. The Swiss drugmaker raised another $14 billion in bonds, this time on the U.K. and European markets. That follows a $16 billion issue in the U.S. last week. With $30

Novartis vaccine recalled in U.K.

U.K. authorities have recalled a Novartis meningitis vaccine on fears that 21,000 doses might be contaminated with bacteria. The infant vaccine--sold under the brand name Menjugate--had been ordered

Forest charged with kickbacks, off-label antics

Forest Laboratories joins the perp walk. In the latest of a series of drug-marketing prosecutions, the feds are charging Forest with offering kickbacks to doctors for prescribing Celexa and Lexapro,

FDA says Ranbaxy faked drug data

FDA has kicked Ranbaxy Laboratories out of the frying pan and into the fire. The agency accused the Indian generics maker of falsifying data and test results in its applications for drug approvals.

FDA: Ranbaxy falsified data on drug applications

Daiichi Sankyo may be second guessing its $4.6 billion acquisition of Indian generics maker Ranbaxy. Just before Daiichi sealed the deal in November, federal regulators banned the importation of

Elan to lay off 230 in retooling

Embattled Irish drugmaker Elan plans to cut 230 positions, or 14 percent of its work force, as it postpones biologics manufacturing and realigns the R&D operations within its biopharmaceutical

Analysts play fantasy pharma merger

The merger matchmakers have hit the mainstream media with their pharma-combo predictions. In what the New York Times likens to a fantasy football game, analysts are lining up potential acquirers on

Kindler column backs Obama on reform

You can't call Pfizer chief Jeff Kindler (photo) a lone ranger. Showing his team-player stripes, Kindler paired up with big-time union official Andy Stern to write a column in support of healthcare

Even productive reps will be obsolete, PwC says

Some more tough news for pharma reps today: A little over 10 years from now, the drug sales rep as we know him or her will be "obsolete." That's the assessment of consulting firm

FDA ignored red flags at syringe firm

The FDA is taking its licks in North Carolina today, where a leading newspaper reports the agency ignored reports of contamination at a syringe facility. Not just any facility, but AM2PAT, whose

Medtronic to disclose doc payments, cut staff

After much pressure from Congress, medical device maker Medtronic announced today that the company will collect payment data on all physicians for annual disclosures. The first report, which will

750 Merck reps cut loose this year

Wonder why the line at the unemployment office is so long? It's full of newly cut pharma reps, that's why. Merck has axed some 750 sales folks so far this year. Some got the news earlier this year,