Multinational drug firms in Australia faced a string of barbs in hearings held by a Senate panel into transfer pricing that included a reference to a fictitious German World War II prison camp guard.
We checked and everything is done correctly on our tax obligations, 9 drug companies said in separate submissions ahead of testimony on July 1 to an Australian Senate inquiry on tax avoidance.
Wading into what has become an "argy-bargy" political issue, Merck CEO Ken Frazier gave his two cents on why Australians miss out on new drugs.
Australia's CSL unveiled Phase III trial results for hemophilia B candidate rIX-FP that met the primary endpoint and separately noted it bought exclusive rights to commercialize flu treatment Rapivab from BioCryst Pharmaceuticals last week. The note highlighted the growing reach of the biopharma in a core blood products business and in vaccines following its purchase of a Novartis unit last year.
A growing tussle between industry and Australia's Liberal-led coalition over efforts to trim drug reimbursement costs widened this week as Health Minister Sussan Ley hit back at Medicines Australia over the approval times for newer treatments and related costs.
Australia's Benitec Biopharma plans to list on the Nasdaq in an initial public offering in the United States that would raise as much as $70 million, according to a June 23 proxy notice to existing shareholders.
A move by Australia to be the first country to allow pharmacies in some cases to substitute biosimilars for originator drugs has drawn a rebuke by the U.S.-based Alliance for Safe Biologic Medicines, which includes members such as Amgen and the Biotechnology Industry Organization.
Australia's Circadian Technologies won Investigational New Drug approval from the U.S. FDA for Phase I clinical trials of OPT-302 for patients with wet age-related macular degeneration, the company said on Monday.
Australia's Proteomics International Laboratories said it has produced and validated the world's first predictive test for the diagnosis of diabetic kidney disease after a four-year study.
In an agreement expected to hurt drugmakers more than any other entity, the government of Australia has settled a budget dispute with the nation's pharmacies. The settlement, to begin July 1, includes payments to drugstores of U.S.$2.2 billion over 5 years.