Want to know why the potential Pfizer-AstraZeneca marriage failed? Price, says Pfizer CFO Frank D'Amelio. Stating the obvious, obviously. But in balking at Pfizer's offer, AstraZeneca--and allies in the U.K.--raised plenty of other issues. Emotional issues, for some.
Several top AstraZeneca shareholders are pressing for meetings with John Varley, the former CEO of Barclays bank who also happens to head up the drugmaker's remuneration committee, Sky News reports. The aim? To follow through on calls to link AstraZeneca executive pay to the value of Pfizer's rejected buyout offer.
AstraZeneca's executive team under CEO Pascal Soriot confidently batted down Pfizer's $120 billion takeover bid by putting an extraordinary valuation on its pipeline, often far exceeding the most optimistic forecasts by industry analysts. And now there appears to be a growing movement among a group of disenchanted investors at the U.K. company to hold management's incentive packages hostage to the sky-high expectations they've created.
Lawsuits have been piling up against Abbott Laboratories and its recent spinoff, AbbVie, maker of one of the top-selling testosterone supplements, AndroGel. A panel of judges has now decided that those suits will be consolidated in Chicago, where both companies are based.
It's a tale of two statin drugs and their attempts to keep market share--or build it, as the case may be. Pfizer rolled out a new version of its Lipitor copay discount program, and this time, it applies to patients covered via certain U.S. government programs.
Some of pharma's biggest players have already said they're looking into jettisoning their portfolios of older meds or selling off certain established products with an eye toward newer, fast-growing drugs. And as that trend takes flight, other pharma companies may look to make similar moves, The Wall Street Journal 's sources say.
Pascal Soriot says confidently that AstraZeneca will make its forecast of $45 billion in sales by 2023, the one it trotted out during its fight with Pfizer to convince shareholders it was best going it alone.
For an idea of what kind of year a drug developer had, take a look at what it paid its head of R&D. Click through our roundup for a look at who ranks where in the biopharma R&D world. Read more >>
A clutch of Big Pharma companies is backing a competition to create predictive models that could lead to new targets for cancer drugs. Eli Lilly, Novartis and Pfizer are among the data funders of the competition, which calls for the development of models that show how essential a gene is to the survival of a cancer cell.
AstraZeneca's oncology team aggressively hit the floor in Chicago, publicly brimming with confidence about its top prospects, with global plans to quickly expand its cancer pipeline into an industry leader with multiple combination therapies being pushed into the clinic.