News

ThromboGenics doesn't want a deal. It wants a marketing partner for floundering Jetrea

Turns out, selling ThromboGenics wasn't such a good idea. After weighing its options, the Belgian company figures it won't look for a buyer. Instead, it will recruit a U.S. marketing partner...

Abbott bulks up in Russia with $495M deal for Veropharm

Abbott Laboratories has said it plans to focus its branded generics business on a select group of rapidly expanding emerging markets. It appears Russia is one of them. The Illinois-based drugmaker will shell out up to $495 million to buy the fast-growing Russian generics maker VeroPharm from local billionaire Roman Avdeev.

Report: Roche, Novartis among Swiss companies with highest pay gaps

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.

Some cancer docs still bill heavily for Amgen's Epogen despite safety questions

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 cautions against exchange as Valeant gets down to the 'facts'

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.

Chinese drugmaker plots $761M stock offering to fund deals, R&D

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 touts $10B sales target to fend off AbbVie as other suitors circle

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.

The FTC launches new pay-for-delay probes, hoping to win some

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.

Cubist's Trius buyout pays off with FDA nod on high-powered antibiotic Sivextro

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 in more hot water in Italy as officials probe possible pricing fraud

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.

Japan OKs Bayer's Nexavar for thyroid cancer

Building on approvals in the U.S. and EU, Bayer Healthcare said Japan has approved Nexavar to treat patients with unresectable differentiated thyroid carcinoma.

After three failed bids for Shire, will AbbVie try again to expand beyond Humira?

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.

FDA moves for more warnings on testosterone products

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.

Takeda taken to task for hiring so many 'foreigners'

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.

Why does Sovaldi cost $84,000? Gilead Sciences being pressed hard for an answer

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.

Will Allergan scramble for Shire to beat off Valeant's hostile advance?

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.

Can pharma salvage its tarnished rep? Survey says yes

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.

EU keeps rolling out pay-for-delay penalties with plan to fine Servier, Teva

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.

J&J Innovation spotlights its slate of new biotech deals

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.

Want a Big Pharma job? Apply in an emerging market--or think smaller

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.