Tax inversion deals are not the only trick Big Pharma has up its sleeve to avoid steep U.S. taxes. Gilead Sciences is booking profits overseas in low-tax countries to take home more profits for its blockbuster hep C drug Sovaldi.
2014 was a tough year for GlaxoSmithKline. Its revenues and profits were off significantly. Its operating profit was off nearly 50% in pounds--and, as it turns out, so was CEO Andrew Witty's pay. In fact he took a 46% whack to his compensation.
Bayer's new pharma launches may be soaring, but that wasn't enough to help the German drugmaker meet analysts' profit estimates for Q4. For 2015, the company expects bigger things--but as it moves forward with plans to bid farewell to its plastics unit and competition ramps up for its best-sellers, its consumer health division will need to start pulling its weight.
GlaxoSmithKline says Sir Philip Hampton is free to take the reins in May.
Valeant only just picked up Provenge from bankrupt Dendreon, but it's already trumpeting positive data for the flailing prostate cancer vaccine.
The pharma industry has plugged a hole in the reimportation dike. A federal judge in Maine struck down a state law that allows residents to buy prescription drugs from pharmacies outside the country. The law was the state's version of a federal proposal that has failed several times in Congress.
It's bad news and good news for Johnson & Johnson's legal department today. South Carolina's Supreme Court upheld a jury verdict against the company in a Risperdal marketing lawsuit, but did slash the $327 million judgment by more than half.
Sanofi has its second diabetes approval in as many months: Toujeo, its long-acting follow-up to the megablockbuster Lantus. It's a big moment for the French drugmaker and its diabetes franchise, which needs the new drugs to perform, and quickly, to cushion the blow from forthcoming Lantus biosimilars.
So far, the 2014 pharma deal blitz has continued right on into 2015. And cancer drugmaker Pharmacyclics could be the next company to keep it going.
Generic Dr. Reddy's Laboratories, which already has had to defend its drug pricing to a couple of members of Congress, is now being called to account by the attorneys general of both Texas and California.
After nearly a year off the shelves, GlaxoSmithKline's diet pill alli--recalled after reports of tampering--is back in most U.S. stores, and it's got some updates that should make any future tampering easier to spot.
Shire is pushing full steam ahead to get the word out on binge eating disorder, the new indication it snagged for blockbuster Vyvanse last month.
The jury has spoken in Johnson & Johnson's Risperdal trial, and the news wasn't good for the U.S.-based drugmaker. The Philadelphia panel decided J&J had failed to properly warn that the antipsychotic drug could trigger breast development in boys and young men, in the first of more than 1,000 similar cases pending.
As the U.S. government and payers counter sky-high drug prices, a California lawmaker is proposing a new measure that would require drug companies for the first time to reveal information on how they price the industry's most expensive meds.
Takeda's revenues and profits will be down for the second year running. But COO Christophe Weber is promising better things to come. With a reorganization in place and some new drugs in the market and the pipeline, he said investors can expect growth going forward.
Currently, there are several generics on the U.S. market of oral antifungal agent ketoconazole. But consumer advocacy organization Public Citizen is trying to change that.
Initial indications were that Allergan's outgoing CEO David Pyott would collect about a $35 million golden parachute when Actavis finalized its $66 billion buyout of the Californian drugmaker, assuming he is out of a job. But it will be considerably more, nearly three times that amount.
Valeant may have inked a pact to buy Salix Pharmaceuticals for more than $10 billion. But that doesn't necessarily mean rival bids aren't on the way.
Baxter's biopharma unit may be on track to spin off later this year, but it's not going far--geographically speaking, that is.
Amid growing debate over skyrocketing drug prices, a group is launching a social media campaign to bring down the price of cancer meds, saying companies are profiteering on patients' lives.