The former Merck employee charged with profiting off of M&A secrets has pleaded guilty to biotech's latest insider trading scandal.
British Columbia's Pharmacare program stopped covering Merck's Januvia last week. Less expensive drugs in the same class were available to do the same job, officials reasoned; 35% less expensive, in fact. But Merck, obviously, disagreed with the choice. The drugmaker funded a survey about Januvia's delisting, via a grant to the Canadian Heart Research Centre
Merck and Novo Nordisk are the latest pharma recruits for the GPCR Consortium, a global nonprofit working to shed light on an underexplored corner of biology and share its discoveries with the public.
Zachary Zwerko, the former Merck analyst caught up in an SEC investigation of insider trading, is reportedly working on a plea deal with prosecutors, according to Reuters.
SINGPAPORE-- Merck has confirmed it will move to let Simcere Pharmaceuticals run a high-profile China joint venture aimed at branded generic drugs announced in 2011 and focus instead on its mature products in the local market.
Merck has joined Novartis, Pfizer and a host of other Big Pharma companies in the Structural Genomics Consortium (SGC), a transatlantic public-private collaboration focused on the 3-D structures of proteins.
Setting up camp in the Middle East is the trend du jour in Big Pharma, and Merck KGaA is expanding its footprint there by launching its new diabetes education program in the United Arab Emirates.
As the Disneyland measles outbreak continues to spread, some are pointing the finger at Merck, maker of the only U.S.-approved measles vaccine. But when it comes to encouraging the public to get vaccinated, there's a limit on how much the company can do, its R&D chief says.
Merck CEO Kenneth Frazier said Wednesday that the company's effort to slim down and more tightly focus were reflected in the company's financial results, and so they were. The drugmaker reported that global revenues in Q4 were down 7%--although earnings were in line with what Wall Street was expecting. The company also announced that it stands to lose FDA "breakthrough" status on its hepatitis C treatment candidate--Gilead Sciences and AbbVie beat it to the market with their treatments--but said that it still plans to seek approval for the combo regimen in the first half of the year.
Now that AbbVie has followed up on Gilead's game-changing combo with its own directly competitive hep C cocktail, Merck's late-stage player in the field doesn't look quite as revolutionary as it once did. With a new drug application being prepped for a near-term filing, the FDA has decided to drop its breakthrough therapy designation for Merck, possibly slowing the Big Pharma's marketing timeline a bit.