Back in early 2009, when Pfizer pulled off its big merger with Wyeth, the pharma giant boasted that the combined company "will have more resources to invest in research and development than any other biopharmaceutical company." Combined, they easily outspent every other Big Pharma research operation around the world. And the company touted its new prospects with the Alzheimer's R&D group at Wyeth, including the Phase III program for bapineuzumab.
Reuters reports that British Prime Minister David Cameron is now demanding stronger guarantees that Pfizer's buyout of AstraZeneca won't decimate the country's science community and leave a host of employees jobless.
The uproar in the U.K. over Pfizer's proposed megamerger with AstraZeneca continues unabated. But thousands of other jobs are up for the chopping block in Sweden and the U.S., where the Financial Times ' correspondents are having a hard time finding politicians willing to jump the partisan divide to stop the deal.
Thanks to a steady flow of expensive new cancer therapies--and a public brouhaha over the cost of next-gen treatments for hepatitis C--drug prices are on center stage. We thought we'd look into the products whose prices have increased the most since 2007, to see how and why their prices are leaping.
Over the past few years, the bottom-line number on R&D spending among the big 10 pharma companies--about $70 billion--has remained about the same. But behind the steady collective figure lies...
Pharmacy benefits managers say they're just as worried--perhaps even more so--by a coming class of cholesterol drugs known as PCSK9 inhibitors as they are about the new crop of hepatitis C treatments.
Now, it's AstraZeneca's turn to tick off all the reasons why it shouldn't sell to Pfizer. Between new plans for existing products and its prospects for new ones, AstraZeneca says it will boost sales to $45 billion by 2023--about $20 billion higher than they are now.
Britain's Parliament has summoned executives of Pfizer and AstraZeneca to a hearing, during which they will be grilled about their proposed merger, which has sparked broad opposition among Brits concerned about preserving jobs and R&D operations.
Hoping to avoid Pfizer's megamerger pitch, AstraZeneca CEO Pascal Soriot promised investors today that the pharma giant has stocked up wisely on experimental drugs that will deliver tens of billions of dollars in future annual rewards. And now he's asking for enough time to deliver on that promise.
When Pfizer set out to lobby for its proposed buyout of AstraZeneca, CEO Ian Read made a point of reassuring Britain's political establishment that it will keep a large portion of R&D operations in the U.K. But it never bothered to clarify what its plans are in Sweden.