At about the same time that AstraZeneca CEO Pascal Soriot was telling investors its earnings had been boosted because no generic of blockbuster Nexium had appeared, Ranbaxy Laboratories was announcing bad news on that front for itself.
The BBC has some numbers sourced from GlobalData showing that 9 out of 10 Big Pharma companies do in fact spend more on marketing than on R&D. In some cases, that's twice as much.
AstraZeneca hiked its 2014 forecast for the second time this year. Sales were up by 5%. Instead of apologizing for a lack of growth, CEO Pascal Soriot could crow about the opposite. Revenue of $6.54 billion beat analyst estimates, and core EPS of $1.05 did the same.
As part of its immuno-oncology strategy, AstraZeneca's biotech unit MedImmune will pay $150 million upfront and commit to undisclosed milestone fees to take over German data analysis firm Definiens.
AstraZeneca's ovarian cancer-treating olaparib may also have a beneficial effect on prostate cancer, researchers said, potentially increasing the value of a key drug in the company's self-appraised $12 billion oncology pipeline.
AstraZeneca wants to build up its oncology presence, and its latest acquisition could help the company on its way. The drugmaker's MedImmune division shelled out $150 million upfront and additional milestone payments for Definiens, a diagnostic outfit with imaging technology that identifies biomarkers in tumor tissue and provides a more accurate way to assess tissue samples.
AstraZeneca signed on the dotted line for Almirall, gaining access to the company's promising respiratory drug portfolio and products currently under development. But now job cuts are on the horizon for Almirall, as the company is slashing jobs and sending some of its employees to AstraZeneca as part of the deal.
The University of Manchester's North West Centre for Advanced Drug Delivery will study drug delivery topics in cancer and other diseases of interest to the AstraZeneca, in the latest example of the growing research collaboration between Big Pharma and academia.
Looking to build an oncology powerhouse, AstraZeneca has scooped up the diagnostics player Definiens with a down payment of $150 million while executing another drug development partnership with J&J and Pharmacyclics to add to its growing portfolio of immuno-oncology deals
With generic and branded rivals inching up on AstraZeneca's blockbuster respiratory drug Symbicort, the pharma giant has a game plan locked, loaded and ready to go. The company sealed the deal for Almirall's respiratory portfolio, inheriting a couple of marketed drugs to expand its current offerings and a list of medications currently under development.