Once again, Europe is dragging GlaxoSmithKline down. And this time, the drag was worse than expected: Sales in the region dropped by 9%. Together with a 6% decline in U.S. sales on generic competition, that was enough to push overall revenues down by 5%, to £6.54 billion, or $10.3 billion.
Thank you, Xarelto, Mirena, Cipro and friends. On the strength of these fast-growing products, Bayer's pharma division out-grew its other businesses, with a gain in net sales of 6.1%, to €2.73 billion ($3.545 billion).
Vivus has won an early weight-loss race in the marketplace. The company launched its Qsymia treatment, beating competitor Arena Pharmaceuticals' Belviq by several months. But will it come out on top in the most important one--the contest for prescriptions and sales?
With all of the pressures in place to promote generics of popular branded drugs, the time it takes to go from blockbuster to just buster has become remarkably short. New data shows that Merck's asthma-and-allergy drug Singulair fell nearly 90% in just the four weeks since the generics were approved.
Even as Novartis is fighting a long anticipated battle in India to protect the patent on its cancer drug Gleevec, another Swiss drugmaker must decide if it will appeal a ruling that it believes essentially ignored patent protections on its own cancer drug.
Shares of Amarin took a hit overnight after the company filed papers noting that the FDA had yet to decide whether its industrial-strength fish oil product Vascepa warranted approval as a new chemical entity, a classification that carries 5 years of marketing exclusivity with it.
Public Citizen has stepped up its fight against high-dose Aricept. The consumer advocacy group, which demanded last year that FDA pull the Eisai drug's 23 mg dose, sued the agency yesterday for action.
In the wrap-up of the European Society of Cardiology meeting in Munich, Reuters ' Ben Hirschler assessed the field in search of the next potential Lipitors in the pipeline--megablockbusters that will cost hundreds of millions of dollars to test in huge clinical trials--and came up with three big fields. Each of them has big caveats to consider.
Many companies have been caught off-guard by the extent to which generic competition has eaten away at their sales. Genentech says it managed to be caught off-guard by a lack of it.
Another quarter, another Lexapro blow for Lundbeck. The antidepressant, sold in the U.S. by Forest Laboratories, is suffering severely from generic competition. That suffering moves across the Atlantic to Lundbeck's Danish headquarters, forcing CEO Ulf Winberg to promise a turnaround.