Greeks rejected their proposed bailout over the weekend, but so far drugmakers say they're continuing to ship products to the country. Greek hospitals already owe pharma more than $1 billion, and the lack of a fiscal deal means the bills will keep stacking up. Bank closures could complicate other payments.
Multinational drug firms in Australia faced a string of barbs in hearings held by a Senate panel into transfer pricing that included a reference to a fictitious German World War II prison camp guard.
After Bayer offloaded its diabetes device unit last month, some investors thought Roche would follow suit and sell its own underperforming diabetes diagnostics business. The Swiss drugmaker has experienced its fair share of problems with the unit, which stalled recently in light of price cuts and reimbursement issues in the U.S. But anyone expecting a sale of Roche's diabetes diagnostics business shouldn't hold their breath, analysts said.
You can score another setback for Roche's star-crossed attempt to develop a new drug for Alzheimer's. Roche partner Evotec reported that their drug sembragiline failed a Phase IIB study.
Roche heralded the late-stage success of two big trials for its multiple sclerosis drug ocrelizumab today, which they say puts them on a straight road to regulatory filings for the injectable in early 2016. But even under the best-case scenario for the future, the Big Pharma player will face a tough task squaring off against the new oral drugs that have been divvying up this big market recently.
FierceBiotech Radio is back with a two-part special from the BIO conference in Philadelphia.
Flat news is good news. Pharma spending on advertising and promotional expenses will dip by just 1.7% next year, according to Schonfeld & Associates' annual Advertising Ratios & Budgets. That means a total of more than $21 billion in ad spending and just a bit healthier than last year's decline of 2%.
Roche's Ventana Medical Systems has just received FDA approval of its Ventana ALK (DF53) as a companion diagnostic for Pfizer's Xalkori to treat non-small cell lung cancer.
Another week, another rumor about the target on GlaxoSmithKline's back. This time, U.K. traders were talking up a different potential takeover--not by Pfizer, but by Johnson & Johnson or Roche.
Sequenom suffered a stinging defeat in its patent battle against Roche's Ariosa Diagnostics unit, as a U.S. appeals court ruled that the company's patent for its noninvasive prenatal test was invalid.