The salary differences between top executives and the lowest-paid employees widened at 18 large Swiss companies last year, with pharma giants Roche and Novartis ranking high on the list of top offenders. That's the conclusion of a new report from Travail Suisse, an organization of trade unions.
Many cancer doctors have cut back on their use of Amgen's anemia drug Epogen--also sold as Procrit by Johnson & Johnson--because of safety questions that arose over the past few years. But as The Wall Street Journal reports, one Florida doctors' group still administers the drug in quantity, accounting for one-sixth of related Medicare charges in 2012.
Allergan's board has already rejected Valeant's $53 billion buyout bid, prompting the wannabe-acquirer to take the proposal directly to shareholders. Unsurprisingly enough, Allergan's board doesn't like that too much, either. And if you ask Valeant, it's twisting the facts to get shareholders on its side.
China's Luye Pharma Group wants to step up its game--and some of its key investors want to cash out. So, it's planning an initial public offering in Hong Kong worth up to HK$5.9 billion, or about $761 million.
Shire has maintained that it's better off alone, rejecting three recent merger bids from AbbVie worth as much as $46.5 billion. Now, it's laying out its case. The Irish drugmaker outlined a plan to double sales by 2020--but that may not be enough to keep predators at bay.
In the wake of a Supreme Court ruling that affirmed its anti-pay-to-delay powers, the Federal Trade Commission has launched several new investigations this year, the agency's healthcare chief told Bloomberg. The enforcers are hoping to hit some unlucky pharma company with a $1 billion settlement this year, an FTC official said earlier this year.
Less than a year after Cubist scooped up Trius for $707 million in a bid to boost its presence in antibiotics, it can boast an FDA approval out of the deal. On Friday, the agency approved Sivextro, an antibacterial drug to treat a range of skin infections, including methicillin-resistant Staphylococcus aureus (MRSA).
Novartis is already under scrutiny in Italy after authorities there accused it of colluding to protect sales of eye drug Lucentis. But the Swiss pharma's situation in the country may be getting stickier, with authorities scouring its offices there for information on flu vaccine pricing.
Spun off from Abbott Laboratories early last year, AbbVie right now is somewhat of a one-trick pony, with lead drug Humira--the best-selling med in the world--raking in 57% of its 2013 sales. Though it has some hot prospects in its pipeline, it could use some other revenue sources, and it apparently thinks Shire might be able to help it out in that department--and bring along some tax advantages, too.
The FDA has dealt a blow to the $1.6 billion testosterone supplement market, which includes the top-selling AndroGel, made by AbbVie. The drug labels must now include a general warning about the risk of blood clots in veins.
CEO Yasuchika Hasegawa's efforts to make Takeda a globally focused company with more international sales has always drawn attention, but the idea that the Japanese company could be run by a "foreigner" has a group of former executives angry and they are letting the board know it.
Payers, politicians and some regulators have been balking at the $84,000 price tag on Gilead's hepatitis C treatment Sovaldi ever since it hit the market in January. Now two top member of Congress are demanding that the company appear at a congressional hearing to explain the product's high price.
Valeant has been promising a hostile takeover approach for Allergan since the company's board unanimously shot down its $53 billion cash-and-stock bid. And now, it's made its first move.
According to Eye for Pharma's latest Healthcheck survey of the drug business, 42% of respondents said they don't think pharma's image is getting any better among average folks, whereas a mere 19% think pharma's rep is improving.
European antitrust regulators may have been a little late to the party when it comes to pay-for-delay actions but are making up for lost time. Sources are saying they will levy fines against French drugmaker Servier and Teva Pharmaceutical Industries next month for delaying the launch of generic blood pressure meds.
When Johnson & Johnson Innovation debuted about a year ago, R&D chief Paul Stoffels promised to build an interconnected, global operation that would sink some deep roots into the world's busiest biotech hubs. On Thursday, the group showed off just how far it had come in a short time.
Where have all the Big Pharma jobs gone? To emerging markets, for one. For another? The world's biggest drugmakers have shuffled their decks, with some shedding jobs and others gaining. Any guesses which? We'll get to that.