Novartis agreed to pay about $390 million to wrap up federal kickback claims before the $3.3 billion case went to trial. The Justice Department and a number of U.S. states had sought up to $3.4 billion in damages in the case, which zeroed in on the Swiss drugmaker's relationships with specialty pharmacies.
Perrigo has railed repeatedly against Mylan's hostile takeover bid and introduced massive cost-cuts and streamlining efforts to try to keep its shareholders loyal. Its next step in fending off its unwanted suitor? Heading to Israel.
After years of setbacks, Johnson & Johnson's Yondelis finally has its shot at some U.S. sales. The drug won its sought-after FDA approval Friday--not in ovarian cancer as previously hoped, but as a treatment for soft-tissue sarcoma, which otherwise has few treatment options.
Merck & Co. has seen its sales of the blockbuster Remicade beaten up in Europe as biosimilars makers have been much more aggressive about discounting their copies of the arthritis med than anyone expected. So the U.S. drugmaker is using a page from the competition's playbook and is cutting prices for the drug about 25% in the U.K.
On Monday, Valeant said it would set up an ad hoc committee--composed of its board members--to look into allegations that it used its relationship with specialty pharmacy Philidor to inflate its top line.
When high-profile U.K. fund manager Neil Woodford talks, investors listen. And now, Woodford is talking about a GlaxoSmithKline breakup.
AbbVie counts on dealmaking with PBMs to compete with rivals in the hep C sphere, inking an exclusive pact with Express Scripts last year for its hep C powerhouse Viekira Pak and setting off a pricing war with Gilead Sciences. But AbbVie's rapport with Express Scripts could be on the rocks after the FDA warned of serious liver injuries tied to Viekira Pak and demanded that the company update the med's label.
GlaxoSmithKline CEO Andrew Witty continues to take heat for moving the U.K. drugmaker heavier into low-margin areas like consumer health and vaccines. But he continues to insist he has it on the right track, that Glaxo has plenty of new drugs on the way that will be first-in-class and sidestep the high price backlash that some competitors are facing.
Pharma industry trade group PhRMA generally protects its own amid controversy. But now, it's put up a statement on its website criticizing a drugmaker that's surrounded by plenty.
Roche is pinning its hopes to cancer powerhouse Kadcyla, priming the drug for new indications as it looks to soften the blow once biosimilars for top-selling meds come knocking. But now the company is facing a stinging setback after Kadcyla flunked a Phase III trial for stomach cancer.
With a raft of next-gen psoriasis competitors coming up Big Pharma's pipelines, Novartis is looking to distinguish Cosentyx by adding a pair of new uses. And it got one step closer on Friday.
Shire's been quiet on the Baxalta front for a while now, but that doesn't mean its quest to buy the newly formed Illinois drugmaker is over.
AbbVie's Viekira Pak and Technivie were developed to cure hepatitis C and so avoid the complications like liver transplants that can result from the disease. But the FDA said today that in some cases the two drugs may cause serious liver injury, even death, mostly in patients with underlying advanced liver disease, and told AbbVie it would have to add a warning to its labels.
Yesterday's Valeant Pharmaceuticals rout put specialty pharmacies under an unwelcome spotlight. But though Valeant's own close relationship with Philidor RX may be an unusual one--a host of Big Pharma and Big Biotech companies have now denied similar arrangements--tight links between drug marketing and specialty pharmacies are increasingly common industrywide.
Relypsa got good news and bad news from the FDA Wednesday. The good: Its hyperkalemia drug patiromer, now dubbed Veltassa, won agency approval. The not-so-good: Its label isn't quite as "clean" as the company might have hoped; it includes a black-box warning of interactions with oral meds. Analysts say that could give ZS Pharma an advantage if and when its potential competitor gets an FDA nod next year.
A compounding pharmacy has stepped up with its own alternative to the now-notorious toxoplasmosis med Daraprim--at about $1 per pill, a tiny fraction of the cost of Turing Pharmaceuticals' brand, which runs $750 per tablet after a widely publicized 5,000%-plus price increase.
Eli Lilly had nowhere to go but up at the beginning of this year, with patent expirations for top sellers Cymbalta and Evista taking a bite out of revenues and sending earnings spiraling downward. But CEO John Lechleiter promised that key meds would help lift the company out of its sales funk, and at least in Q3, the helmsman's pledge rang true.
Some industry watchers have predicted that Perrigo would make shareholder-friendly moves to persuade investors not to accept Mylan's hostile tender offer. And now--leading with job and cost cuts--the Dublin drugmaker is doing just that.
Roche's bread-and-butter cancer drugs--Rituxan, Avastin and Herceptin--delivered once again in the third quarter, and now the Swiss drugmaker expects 2015 to turn out better than it previously had forecast.
Valeant has faced its fair share of questions from lawmakers, prosecutors and presidential candidates over the past several weeks--and now, it's facing a whole lot more from investors.