Texas hedge funder Kyle Bass says he's going after drug patents because the pharma industry milks the healthcare system by "evergreening" drug patents. But now, Bass and his Coalition for Affordable Drugs are challenging a patent on Imbruvica, the Johnson & Johnson and Pharmacyclics cancer treatment that was just approved in 2013. Is that evergreening?
Actelion hasn't been too keen on becoming an M&A target lately. But if it's the one in the driver's seat? Bring on the deals, CFO André Muller says.
Sky-high prices for rare disease drugs have triggered pushback from European lawmakers, with countries such as Germany and France waging battles to bring down the cost of the meds. Now two countries are taking a different approach to price negotiations, using their collective clout to purchase the drugs.
Teva Pharmaceutical Industries will fork over a record-breaking $512 million to wrap up claims that it paid generics makers to keep cheap copies of Provigil off the market. As a single settlement, it's big news for Teva. As a potential precedent in other pay-for-delay cases, it's a big deal for the rest of the pharma industry.
The rumors are true: Teva does indeed have eyes for Mylan. And after months of speculation, its bid is here.
Eli Lilly's closely watched autoimmune treatment ixekizumab met its main goals in a Phase III psoriatic arthritis trial, rolling toward an FDA application and a shot at competing in a fast-crowding space.
Daiichi Sankyo has had enough of trying to make money in the Indian generic drug industry. The Japanese drugmaker, which faces patent cliff issues, is selling off its stake in Sun Pharmaceutical just weeks after it closed on the all-stock deal selling Ranbaxy Laboratories to Sun for $3.2 billion.
This past season's flu vaccines posted one of the worst efficacy rates in recent memory. That's partly because the viral strains they contained weren't the ones that ended up circulating. But on top of that, GlaxoSmithKline has uncovered some other effectiveness problems of its own--and now it's recalling a quadrivalent jab in a move that affects 1.7 million doses.
Pfizer racked up an important win in the first trial over Zoloft's alleged links to birth defects. A St. Louis jury decided on Friday that the drug giant isn't liable for congenital abnormalities in a boy whose mother took Zoloft during her pregnancy.
The pink slips are flying at Allergan once again. Recently bought by Actavis in a $66 billion deal, the company is preparing to lay off 577 more workers in a cost-cutting drive that started last year and won't end till its new head honchos finish squeezing savings out of the combined company.
Those Mylan-Teva tie-up rumors just won't go away, and now, reports say the Israeli drugmaker is weighing a play for its generics rival. But make no mistake, Mylan said Friday: It wants to keep flying solo, and that includes wrapping up some M&A of its own.
The immuno-oncology drug Opdivo from Bristol-Myers Squibb continued on its charmed path today when the drugmaker cut short another trial for lung cancer because it had nailed its goal for overall survival. This comes after accelerated FDA approval of Opdivo for melanoma and then lung cancer, which has led analysts to keep jacking up earnings forecast, now to $7 billion in annual sales in 5 years.
Merck KGaA Chairman Karl-Ludwig Kley is feeling pretty good about the hard work his company has accomplished in the last three years or so. A tough series of job cuts helped it exceed cost-cutting goals.
No drugmaker wants a generic challenger for a product it relies on--and certainly not two generics challengers. But in the case of Vivus, which has sued Actavis and now Teva over patent infringement for weight-loss drug Qsymia, the generic interest could be an "incremental positive," one analyst believes.
The big asset swap between GlaxoSmithKline and Novartis may have given each just what it wanted, but the deal continues to play out poorly for workers, with GSK planning to close its Pittsburgh office where it has about 275 employees working for its consumer health unit.
Erbitux is one of the top 10 best selling cancer drugs in the world and for years Bristol-Myers Squibb has sold it in the U.S. But Erbitux no longer fits in the sweet spot for Bristol-Myers which is hot for immuno-oncology right now and so is turning over marketing of the colorectal cancer drug to others. In the U.S. that is Eli Lilly, whose ImClone unit developed the cancer drug and put the marketing deal in place before Lilly bought ImClone some years back.
It's been a long battle since a court upturned Teva's Copaxone patent in July 2013, but a Supreme Court fight, several petitions and a regulatory journey later, Copaxone generics are here.
Sanofi plans to manufacture its highly anticipated dengue vaccine in a French facility built specifically for the product. But Sanofi Pasteur's vaccine operation in Swiftwater, PA, is also expanding in preparation for a launch of the vax, which may happen later this year.
Fitch Ratings is raising the flag on pharma M&A. The credit ratings agency says the current spate of dealmaking is putting some pressure on European Big Pharma players.
AbbVie's used to heavy hep C competition thanks to combo drug Viekira Pak, which has squared off against Gilead's Harvoni in the U.S. But now, the Illinois drugmaker is one step closer to a hep C approval in Japan, where it'll be a whole different ballgame.