For the first couple of years after AbbVie's debut as an independent pharma company, its CEO, Richard Gonzalez, didn't quite follow in Abbott Laboratories CEO Miles White's footsteps compensation-wise, collecting a mere $8 million in 2012 pay. But for 2014, Gonzalez's total compensation amounted to $22 million, according to AbbVie's proxy statement.
The FDA is rushing to complete guidance on abuse-deterrent opioids before the end of June because if it doesn't, Congress has promised to take away $20 million in money for salaries and expenses in the FDA Commissioner's Office and give it instead to its criminal investigations unit to fight drug diversion.
The success of Biogen Idec's closely watched antibody targeting beta amyloid proteins in Alzheimer's disease is again bringing some excitement to a category that has defeated earlier enthusiasm as drugs have failed in trials.
Generics makers aren't the only ones filing challenges to pharma patents anymore. Hedge funds are doing it, too, and it's got drugmakers on edge.
Merck KGaA is the latest company to join Big Pharma's recent round of executive musical chairs. The German drugmaker is promoting deputy chief executive Stefan Oschmann to replace current CEO Karl-Ludwig Kley as the company's top dog.
Novartis CEO Joe Jimenez was a bit dismissive about the immediate impact of biosimilars when his company became the first to get one approved in the U.S. But Amgen didn't see the biosimilar of its blockbuster Neupogen in quite the same light and tried to stop its release. Unfortunately for the company, a federal judge denied Amgen's request for a temporary injunction.
Good news for GlaxoSmithKline: An FDA panel of experts says the efficacy and safety data for blockbuster wannabe Breo support the asthma indication it's gunning for in adults 18 and older. When it comes to children aged 12 to 17, though? The panelists aren't having it.
Sanofi's Indian affiliate, Shantha Biotechnics, says it's ready to deliver 37 million doses of its low-cost pediatric pentavalent vaccine, Shan5.
Valeant wasn't the only one that scored a win when Salix Pharmaceuticals agreed to its $173-per-share buyout offer. Two former Salix execs--who left the company recently amid inventory issues--will make a pretty penny on the deal as well.
Who can resist a numbers match-up? Not us, obviously. Even better when the winners are a bit unexpected. Today, it's market cap, courtesy of EvaluatePharma and its annual state of the industry report.
Sanofi can go back to the FDA with Lyxumia. The French drugmaker got good news from a cardiovascular outcomes study, required by the FDA before it would approve the diabetes drug.
AstraZeneca has decided not to go it alone on marketing Movantik. Daiichi Sankyo has signed on to help launch the constipation pill--and it's paying a pretty penny for the opportunity.
Bristol-Myers Squibb CEO Lamberto Andreotti has had a nice run at the drugmaker, paywise. And as he prepares to move upstairs to the chairman's office--and eventually out the door--he's going out with a bang. Apparently, a $27 million bang.
New-look Actavis--soon to be Allergan--has been undergoing plenty of changes since it agreed in November to shell out $66 billion for the Botox maker. And as it continues to integrate Allergan's ops, it's shaving away at the workforce it inherited from its prior pickup, Forest Labs.
Pernix Therapeutics is looking for a sales trifecta from the 100 new Zohydro reps it's acquiring along with that pain drug franchise.
Several years ago, Novartis agreed to pay $175 million to settle a high-profile gender discrimination lawsuit focused on its U.S. sales operations. Now, the Swiss drugmaker faces a new discrimination fight at its Texas-based Alcon unit.
England's Cancer Drugs Fund is backtracking in its decision to remove certain treatments from its list of covered drugs, agreeing to keep Novartis' cancer med Afinitor for two of the three indications for which it was supposed to be removed.
Not long after Gilead Sciences' high-priced hep C super drugs Sovaldi, and then combo drug Harvoni, hit the market, the California drugmaker struck deals with 11 generic drugmakers to make cut-rate versions available, and affordable, in 91 developing countries. But Gilead is not as generous as it might seem, Doctors Without Borders claims.
The names at the very top of our yearly list of biggest pharma companies are no surprise. Johnson & Johnson, Novartis, Roche and Pfizer have headed up the rankings for a couple of years now, albeit in varying order. But toward the bottom of the top 10, there's been a changing of the guard.
A Japanese physician testified in a case involving Novartis Pharma K.K. and its Diovan (valsartan) drug for high blood pressure that he falsified a report while participating in clinical trials for marketing approval, sources said.