News

Surprise! It's a DTC campaign for Sanofi and MannKind's Afrezza

There's been lots of hullaballoo surrounding Sanofi and MannKind's launch of inhaled insulin Afrezza, but for the arrival of the pair's first DTC campaign? Not so much.

UPDATED: India's Wockhardt recalls millions of packages of drugs in sweeping recall

When India's Wockhardt acknowledged recently it was pulling all of the drugs still on the market that it had shipped before the FDA banned two of its plants, it didn't say what those numbers might add up to. Try hundreds of millons of tablets and capsules.

GSK sinks Advair prices to fend off Cipla copycat in India

GlaxoSmithKline isn't just going to sit back and let Cipla's generic stomp all over asthma blockbuster Advair--known as Seretide outside the U.S.--in India. It's turning to a strategy it's used elsewhere to help its aging med compete, and that's price-cutting.

Express Scripts stiff-arms AZ's Onglyza, Vivus' Qsymia with new 2016 formulary

Express Scripts has passed judgment for 2016. Some 20 new meds, including some closely watched products like Vivus' weight-loss med Qsymia, won't be covered on the pharmacy benefits manager's 2016 preferred formulary.

We warned you, Depomed: Horizon pushes down hostile path

Horizon Pharma is done playing nice in its quest to nab Depomed. Now that its target has dismissed its updated buyout bid, it's charging full-force into hostile pursuit.

Ex-Teva employee said she got canned for passing info to the feds in Latin America fraud probe

Teva has long encountered fraud allegations, with the company's own internal investigations showing earlier this year that it "likely" violated the Foreign Corrupt Practices Act and local laws. Now, the drugmaker is facing more pushback as a former employee is sounding the horn, claiming Teva shrugged off her suggestions for improving compliance and axed her job after she cooperated with U.S. officials.

Ackman's 'wolf pack' drove Allergan into foreign hands, former CEO says

Former Allergan CEO David Pyott and activist investor Bill Ackman called each other plenty of things during last year's months-long Valeant-Allergan takeover battle. But Pyott had a new one during a Senate committee hearing on Thursday.

CEO Bradway, and markets, like the way Amgen's 'new product story' is shaping up

Amgen is only weeks away from an anticipated FDA approval for its PCSK9 cholesterol lowerer. Already approved in Europe, the drug is expected to quickly reap blockbuster sales. The biotech's current portfolio of products, along with cost cuts, have helped set the stage for a big year that could possibly include M&A.

Flailing Vivus halves hard-hit Qsymia sales force as revenue lags

Struggling Vivus is short on cash, and it's got a pricey cardiovascular outcomes trial looming in its future. Its fix? Pare down costs once again--or, in the words of RBC Capital Markets analyst Simos Simeonidis, "amputate a limb so that the patient may live."

Suit says CVS manipulated generic drug prices

Pharmacy giant CVS has found itself in the crosshairs of another lawsuit accusing it of inflating the prices of generic drugs. The suit, filed in federal court in San Francisco, says the company pulled off a "massive fraud" through a discount program for patients paying cash for prescriptions, Bloomberg reports. 

GSK hiring 130 at inhaler facility, even as CRO axes up to 200 GSK alum

GlaxoSmithKline, which has been laying off hundreds of employees in the face of falling Advair sales, is adding up to 140 employees at a facility in North Carolina. But it is a bittersweet turn of events since as many as 200 former GSK workers in the area who moved to jobs with CRO Parexel are getting their pink slips.

Romania launches bribery probe into 11 drugmakers

Romanian authorities are investigating 11 drug companies for suspected bribery in the country, echoing an investigation launched in China two years ago that targeted drugmakers such as GlaxoSmithKline for alleged wrongdoing.

Celgene fights for sanction on patent challenger Bass

Celgene is hedge fund manager Kyle Bass' latest patent target, it says--but the biotech isn't taking the news lying down.

With solid Q2, Sanofi CEO says M&A could be part of growth strategy

Sanofi's new CEO, Olivier Brandicourt, has a new company structure he is trotting out, a new potentially hot cholesterol-lowering drug to launch and now is able to take credit for a full quarter's worth of financial results that outperformed the street's best guesses. He even said today that Sanofi may be ready to do some wheeling and dealing, having so far stayed out of the M&A melee that has been going on all year.

Express Scripts: Pricey PCSK9 drugs poised to 'wreak havoc'

Last week, Sanofi revealed a $14,600 sticker for new PCSK9 med Praluent that far exceeded the price tag analysts expected. And unsurprisingly, leading PBM and vocal price critic Express Scripts is none too thrilled about it. 

Depomed pooh-poohs Horizon's new bid in latest rejection

Last week, Horizon raised its buyout offer for California's Depomed in order to spur the drugmaker into coming to the bargaining table. But it looks like it'll have to go with Plan B.

AstraZeneca tops Q2 estimates on strength of diabetes drugs and clot-buster Brilinta

AstraZeneca's closely watched blood thinner Brilinta came through for the drugmaker in the second quarter, as did its diabetes franchise, allowing the British company to pull off a 2% rise in sales (at constant exchange rates) to $6.3 billion and core operating profit of $1.8 billion, or $1.21 a share.

GSK bribery allegations crop up in Romania

GlaxoSmithKline is knee-deep in bribery allegations around the world, with accusations surfacing everywhere from Poland to the Middle East that the company engaged in wrongdoing. Now the drugmaker faces new claims in Romania, almost a year after it paid a pretty penny to resolve bribery charges in China.

Analysts: Mylan won't land Perrigo, even with Teva out of the way

Teva's $40.5 billion deal to buy Allergan's generics business ended its pursuit of Mylan and left its rival the chance to snap up its own hostile target, Perrigo. But the way some analysts see it, things won't necessarily go that way.

Glaxo posts 'unremarkable' results in first quarter after Novartis swap

On Wednesday, GlaxoSmithKline announced results for its first full quarter after closing its blockbuster asset swap with Novartis. And so far, things look "unremarkable."