A group of the world's leading drugmakers have joined the U.K.'s ambitious initiative to sequence the genomes of 100,000 Britons, mining the data with hopes of finding new pathways to treat cancer and rare diseases.
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.
What's better than a new drug launch? A launch destined for greatness, of course. For sales and marketing teams, that's about as much job security as you can get.
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.
Calico, the Google-backed biotech with ambitions to decode the aging process, has aligned itself with California's QB3, a Bay Area brain trust, to further flesh out its R&D mission.
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.
For the first couple of years after AbbVie's debut as an independent pharma company, its CEO, Richard Gonzalez, didn't quite follow in Abbott Laboratories CEO Miles White's footsteps compensation-wise, collecting a mere $8 million in 2012 pay. But for 2014, Gonzalez's total compensation amounted to $22 million, according to AbbVie's proxy statement.
Who can resist a numbers match-up? Not us, obviously. Even better when the winners are a bit unexpected. Today, it's market cap, courtesy of EvaluatePharma and its annual state of the industry report.
After agreeing to shell out a pretty penny for Imbruvica-maker Pharmacyclics earlier this month, AbbVie chief Richard Gonzalez assured investors that the drug had plenty of market growth ahead--and that much of that growth would come from moving into earlier lines of treatment in its approved indications, including CLL. Now, new Phase III results suggest the med is on the right track in that department.
For some industry watchers, AbbVie's $21 billion pact to buy Imbruvica-maker Pharmacyclics begged a lot of questions. For instance, after the company agreed to pay a price that steep--or "lofty," "staggering," and even "astronomical," to use analysts' words--how much would Imbruvica actually rack up in peak sales? And where would those sales come from?