News

Dr. Reddy's shopping for deals up to $1B as it expands in injectable meds

Dr. Reddy's Laboratories is looking to expand its market footprint, eyeing as much as $1 billion in potential deals and higher-end products like generic injectable drugs to chart growth and diversify its offerings.

Hey, European countries--join forces to bring down drug prices, WHO suggests

You want to reduce high prices for new meds, European countries? Here's a suggestion for you: Work together.

J&J CEO Gorsky sees 'new horizon' in China, despite slowing growth

Johnson & Johnson has a Chinese strategy: long-term thinking. Despite an economic slowdown and regulatory crackdowns--and the example of other multinationals that have scaled back there--CEO Alex Gorsky figures it's worth it to ride out the storm.

Amgen doubles down on bid to block Novartis' biosimilar Neupogen

It's official: Amgen is appealing last week's ruling in a fight over biosimilar Neupogen. The California-based biotech, aiming to protect its $1.2 billion branded drug, wants to bar Novartis from launching its biosimilar version, Zarxio.

What does Merck's $10B buyback plan say about pharma M&A?

Adding $10 billion to its stock buyback program might mean Merck & Co. wants to keep investors happy as its sales continue to shrink. That would be the typical explanation. But The Wall Street Journal sees a different possibility--one the rest of the industry might want to pay attention to.

Geriatrics experts call for halt to Low-T consumer ads

A couple of geriatrics experts have joined the chorus of recommendations against testosterone therapy. But they're going a step further. They say drugmakers' enthusiastic advertising--which happened to be effective, too--was actually disease-mongering.

Amoun Pharma investors make another run at a $700M-plus sale

It's try, try again for Egypt-based Amoun Pharmaceuticals. The drugmaker, among the largest in its home country, hired Goldman Sachs to look for potential buyers after previous efforts failed.

Legal fallout from Valeant's failed Allergan siege? Experts debate

Now that Actavis' $66 billion Allergan buy--and the bitter takeover war between Allergan and Valeant that preceded it--are in the books, there's much to reflect on. And a lot of lingering questions about how the saga will impact dealmaking moving forward, too.

Cipla revs up for generic Sovaldi launch in India

Cipla is rolling out a low-cost version of Gilead Sciences' hep C powerhouse Sovaldi in India, the latest company to launch a copycat of the drug as part of Gilead's deal with generic drugmakers to provide Sovaldi at cut-rate prices.

Sun doubles in size as it completes Ranbaxy buyout

With Sun Pharmaceutical's $4 billion buyout of Ranbaxy Laboratories all but wrapped up, the combined company has plenty on its plate: get plants banned by the FDA in order, get more products approved and to the market and find $250 million in savings with minimal layoffs.

The $600 million man: Gilead CEO's stock gains push compensation way past estimates

Year by year, drugmakers disclose the compensation they hand out to top executives. But the year-by-year numbers don't tell the full story. As Reuters notes, CEOs have reaped payoffs much bigger than proxy filings estimate, as long-term share awards meet big stock gains.

Which diseases are driving drug spending hikes? It's not just hep C

Industry watchers well know that U.S. drug spending is rising--a lot. And they also know that it's likely to continue over the next few years if some major changes don't occur. But which medical conditions will be responsible for the swelling tide? Some of those may surprise you.

Novo Nordisk unloads autoimmune project to Bristol-Myers

Novo Nordisk, in the process of exiting autoimmune R&D, has found a new home for one of its early-stage programs, handing it over to Bristol-Myers Squibb for an undisclosed sum.

Merck's Keytruda bests BMS' Yervoy in head-to-head melanoma trial

Advantage Merck in the melanoma immunotherapy race. The U.S.-based company says its PD-1 drug Keytruda met its goals in a head-to-head study with Bristol-Myers Squibb's Yervoy (ipilimumab), dealing a blow to that company's growing immunotherapy franchise.

UPDATED: GlaxoSmithKline tags 180 sales-and-admin jobs for cutting in NC

Last year, GlaxoSmithKline announced plans to slim down its Research Triangle Park, NC-based operations, chopping 900 jobs. Now, it's telling state officials that almost 200 workers are heading for the door.

AbbVie's $21B buyout puts Pharmacyclics execs in line for $4B payoff

Pharmacyclics CEO Robert Duggan would add $3.5 billion to his already substantial wealth, if and when AbbVie's $21 billion buyout goes through. But considering Duggan's record, a multibillion-dollar payoff is to be expected. It's the other executives and directors--who together qualify for more than $575 million--who could inspire M&A envy.

FDA lets Lilly's long-acting Zyprexa off the hook in patient deaths

The FDA says it won't recommend new limits on Eli Lilly schizophrenia med Zyprexa Relprevv after almost a year of investigating the deaths of two patients 3 to 4 days after they received injections.

Regeneron chief nabs $42M, but he'll have to pay his own club fees this year

Regeneron chief Len Schleifer has topped the ranks of biopharma's highest-paid skippers for the past couple of years now, and though his salary may be rising still, being CEO doesn't quite come with all the perks it used to.

Jury: Boy didn't prove J&J drug caused his breast growth

Johnson & Johnson won a split decision in Philadelphia court Friday, in the latest Risperdal lawsuit to go to trial. A jury decided that J&J did fail to warn doctors that the antipsychotic drug could cause breast development in boys, Reuters reports.

UPDATED: Daiichi Sankyo starts layoff drive with 16% cuts at HQ

Times have been tough for Daiichi Sankyo, and they're about to get tougher for some of the Japanese company's U.S. staffers. The drugmaker is cutting its headquarters staff by 16% on Monday, with more layoffs expected in mid-April.