2014 looks to be another year of transition for Novartis. It now expects the long-delayed U.S. release of a generic of its blockbuster Diovan to happen in the second quarter and by summer's end hopes to have completed the strategic review that will decide the fate of several of its operating units.
First, South Africa proposed patent-law changes that would help foster generic drugs. Then, Big Pharma and its smaller colleagues in the country's pharma association hatched a counter-offensive: a $600,000 lobbying campaign against the measure. Now, Novo Nordisk has quit that group, the Innovative Pharmaceutical Association of South Africa (Ipasa), in protest.
Generics maker Par Pharmaceutical inked a deal to pay $490 million for JHP Pharmaceuticals, a specialty pharma company owned by Warburg Pincus. Par will gain a portfolio of branded and generic injectable drugs, which are hot commodities these days.
South Africa's Minister of Health, Aaron Motsoaledi, lashed out on Friday at a report that Big Pharma is funding a PR campaign aimed at opposing new patent provisions favoring generic drugs, calling it "a conspiracy of satanic magnitude" that would lead to "genocide."
Novartis' blockbuster Diovan has enjoyed nearly 18 months of sales unscathed by generics since its patent expired in September 2012, as regulatory entanglements have kept Ranbaxy Laboratories from producing its copycat version. Now the Indian drugmaker has a plan to finally get it to market and claim its 6 months of exclusivity.
The Federal Trade Commission may now have the right to challenge pay-for-delay deals, but drugmakers can still stall the launches of competing generic products. And that's exactly what a group of healthcare purchasing companies is accusing Novo Nordisk of doing to copies of its diabetes drug Prandin.
U.S. healthcare spending is on the rise. But for the fourth year in a row, in 2012, those increases were comparatively modest, a new report says. As to whether it's the Affordable Care Act or lingering effects of the recession that's principally responsible for the slower spending growth, officials are divided. One thing they agree on: Falling drug prices had something to do with it.
What's a departing CEO worth after a merger? Not $85 million, according to nearly 5 million Hi-Tech Pharmacal shareholders. But while an advisory vote revealed that many investors were less than enthused with CEO David Seltzer's golden parachute, he'll still get his money when the company merges with Akorn Pharmaceuticals.
GlaxoSmithKline's ($GSK) respiratory franchise got a boost from the FDA Wednesday, and not a moment too soon. The agency green-lighted its COPD treatment Anoro Ellipta just as a generic of Glaxo's top-selling Advair won its first approval--a reminder that competition for the lung giant may be just around the corner.
GlaxoSmithKline's Advair is not your average off-patent blockbuster. It's difficult to copy, which has held off any major generic competition to date. Now, Novartis' generics unit Sandoz and its partner, Vectura, have won their first approval for a copy of the top-selling lung med--a reminder that the clock is ticking on Advair's turn at the top.