Amgen's earnings last week were not half bad. But they were not good enough to save the jobs of 160 employees whom the company says it will let go.
The FDA has handed an approval to Teva for its biosimilar of the aging neutropenia drug Neupogen. But the significant barriers that lie between that treatment--tbo-filgrastim--and any kind of significant market share underscores just how slowly these new therapies will begin to reshape the U.S. drug market.
Teva Pharmaceutical Industries ($TEVA) has pegged its future on becoming a hybrid drugmaker, with generics and brands working in perfect synergy. That's because it has looked past the huge wave of patent expirations on blockbuster drugs, and concluded that generics growth alone won't be respectable enough. And that's why it bought Cephalon last year.
In the years after he took the helm of the company, Rathmann helped steer the development of Epogen and Neupogen. Only now does Amgen face rivals to its anemia franchise.
As doctors search their shelves for the counterfeit Avastin flagged by Roche ($RHHBY) and the FDA yesterday, officials are also hunting down illegally imported, unauthorized versions of other pricey
Hospira says that it won European approval for its follow-on therapy to Amgen's blockbuster Neupogen. In winning the OK, Hospira provided late-stage data demonstrating that its therapy, Nivestim
Teva Pharmaceutical Industries has officially become a thorn in Amgen's side. The Israeli generics giant has asked FDA to approve its biotech drug designed to increase white blood cells in cancer
No drugmaker stands to lose more to biotech copycat drugs than Amgen. Analysts think its blockbuster blood-cell boosters Epogen and Neupogen will be among the first drugs copied in the U.S., once