Just three months after quietly snuffing its late-stage development program for the cholesterol combo MK-0524B, Merck has once again quietly doused development efforts on a new cholesterol therapy. MK-0431E, once in line for a 2014 regulatory filing, was killed for unspecified business reasons, according to Dow Jones.
Once again, Lipitor's patent loss gave Pfizer's ($PFE) quarterly results a big wallop. The cholesterol fighter's sales plummeted by 71% year over year, to $749 million. That drop, if a bit bigger than anticipated, was expected; it's been expected for years. So, the company's 16% drop in sales, to about $14 billion, is no wake-up call.
More job cuts at Pfizer ($PFE). The world's biggest drugmaker is shedding 300 from its Canadian workforce, or about 11% of its employees in the country. Hardest hit will be sales and marketing, particularly in primary care.
Some of the biggest blockbusters known to the pharma industry have dropped off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition lays sales to...
Some of the biggest blockbusters known to the pharma industry have been swept off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition awaits to chop up markets. Barring the development of new megablockbusters this list is likely to remain stable for some time. That's positive for the companies and their investors. It will also help fund major R&D operations around the globe. And the drive to improve performance should continue to drive innovation. Click here to check out the full report >>
Forget the legal challenge to co-pay coupons filed by a group of health plans earlier this year. Forget the state of Massachusetts' coupon ban (it's been repealed now, anyway). The real threat to co-pay coupons may not be lawsuits from payers or outrage from insurance associations and pharmacy benefits managers.
U.S. patients took more drugs and paid more for drugs last year and, according to a new analysis, that was because they have bad health habits and are depressed.
Drugmakers from Merck to Sanofi to GlaxoSmithKline sink beaucoups bucks into three types of potential heart treatments.
Abbott Laboratories' jewel in the crown is the anti-inflammatory drug Humira. It's not only the drugmaker's biggest seller, but it's also set to become the biggest-selling product in the world, now that blockbusters like Lipitor and Plavix have gone off patent. Last year, it brought in $8 billion.
Now that Plavix and Lipitor are down for the count, AstraZeneca's Nexium is the reigning heavyweight drug champion. According to Drugs.com, the stomach drug outsold all other branded drugs during the second quarter, with $1.38 billion in revenues. But Nexium's dominance could be short-lived.