News

UCB hands over South Asia branded drugs to Dr. Reddy's in latest slimdown plan

Belgium's UCB is slimming down, selling some of its branded products in South Asia to Dr. Reddy's Laboratories for $128.38 million to focus on its neurology portfolio in India.

Celltrion revs up Remicade biosim for U.S. rollout this year

Watch out, Remicade. South Korea-based Celltrion is gunning to launch its biosimilar version, Remsima, in the U.S. by the end of this year.

Takeda offers $2.2B to settle Actos cases, sources tell Bloomberg

Takeda lost its very first jury trial in 2013 over claims that it didn't sufficiently warn patients of the cancer risks of its diabetes drug Actos. Then it and Eli Lilly were hit with a breathtaking $9 billion verdict a year later. Now Takeda is looking to extricate itself from the more than 8,000 lawsuits in the U.S. with a $2.2 billion settlement.

What's an Allergan career worth? $534M in cash, if you're ex-CEO David Pyott

Actavis' agreement to buy Allergan for $66 billion put then-Allergan CEO David Pyott in line for a hefty payout in cash and shares--and now that the tie-up is official, he's collecting.

Indian pharma exec: Compulsory licensing cost us $10B in investment

India-based Hetero Pharma's director adopted a heretical position in the local pharmaceutical industry when he said use of the compulsory licensing process has cost India $10 billion in potential investments.

Heavyweight PBMs mean trouble for Big Pharma's pricey new meds

The good news for drugmakers, after UnitedHealth agreed to buy Catamaran: You might need fewer staffers to negotiate with pharmacy benefits managers, now that 1 billion U.S. scripts a year will be controlled by three players.

Judge tosses Abilify kickback claims, but puts BMS on notice for firing whistleblowers

Bristol-Myers Squibb and Otsuka won't have to fight claims that they promoted Abilify for off-label uses or used kickbacks to persuade doctors to prescribe the antipsychotic drug. A U.S. judge tossed out those allegations, leveled by a couple of whistleblowers in 2011, for lack of specific evidence.

Watch out, Pomalyst: Amgen gets quick FDA review for lucrative new Kyprolis use

Amgen's hoping its blood cancer med Kyprolis can win an FDA bump-up from third-line treatment to second-line, and it won't have to wait long to find out whether its hopes pay off.

Abbott puts one-third of its $6B Mylan stake on the block

Abbott Laboratories is selling off one-third of the stake in Mylan it acquired through last year's stock swap, a few weeks after Mylan wrapped up its $5.3 billion buyout of Abbott's portfolio of specialty and branded drugs.

Gilead's huge Sovaldi payoff yields a nice 23% pay hike for CEO

For several years, Gilead Sciences CEO John Martin has collected annual compensation worth about $15 million and his stock gains since 2009 run into the hundreds of millions. But for a record-smashing year that vaulted his company into the ranks of the global top 10, Martin snared a comparatively small payoff in 2015.

Sanofi would be just fine without more M&A, chairman says

Sanofi Chairman Serge Weinberg says his company can do without dealmaking. And good thing, Weinberg told Les Echos--because the potential buys on the market are too expensive.

Medicare takes $4.5B cost hit from superstar hep C treatments

Industry watchers knew Medicare would be shelling out a whole lot more on hepatitis C treatments last year, thanks to new-and-improved drugs. But just how much more did it cough up?

Teva finally joins the M&A fray with $3.2B Auspex buyout

Teva has been sitting on the sidelines for more than a year as its peers jumped head-first into a biopharma deal bonanza. But no longer: The Israeli company struck a $3.2 billion agreement to buy Auspex Pharmaceuticals, which will finally put it back onto the M&A map. And it's zeroing in on more deal targets, analysts say.

Pfizer's Lyrica patent fight in England puts NHS docs, pharmacists on defensive

Talk about unintended consequences of a patent ruling. Pfizer's unprecedented effort to fight Lyrica copies in England has doctors and pharmacists squabbling, and the National Health Service stepping in to keep the peace.

Lilly execs take $3M hit to 2014 bonuses, but the pay freeze thaws for 2015

Suffering from generic competition and patent losses, Eli Lilly & Co. froze salaries and cut bonuses last year--from the top management ranks on down. But the decreases in incentive pay didn't make a huge dent in those executive pay packages.

Horizon scoops up Hyperion and its rare disease portfolio for $1.1B

Ireland-based Horizon Pharma snatched up Hyperion Therapeutics for $1.1 billion to get its hands on the company's rare disease meds, diversifying its portfolio and expanding its footprint in the orphan drug market.

Eisai gets EMA nod for Lenvima just weeks after FDA approval

Eisai has gotten its second dose of good news in as many months. Weeks after getting an FDA approval for its thyroid cancer drug Lenvima, the struggling Japanese drugmaker has gotten the nod for the potential blockbuster by the European Medicines Agency (EMA).

BioMarin shares climb on Shire takeover buzz

The M&A rumor mill was churning Friday morning on reports of an in-the-works Shire ($SHPG) deal for orphan drugmaker BioMarin Pharmaceuticals.

Baxter pays execs more than $8.5M to stick it out through pharma spinoff

Baxter chief Robert Parkinson--who makes a perennial appearance on the list of the top-paid helmsman in biopharma--is in prime position to return this year, despite a drop in his overall compensation. But as for his colleagues gearing up to help biopharma spinoff Baxalta break free, they're in line for some pay bumps--assuming they stick around after the split.

Novo Nordisk's Tresiba news a black cloud for Sanofi's new CEO

Novo Nordisk will soon resubmit Tresiba to the FDA, earlier than once expected. The escalated timeline provided a substantial boost to Novo's shares, but the news adds pressure to Sanofi's new CEO since Tresiba targets Lantus, the French drugmaker's top seller.