Teva Pharmaceutical Industries, which in April had to recall a children's growth hormone, has now halted production of a parenteral nutrition product as the authorities try to determine why 9 children in Israel developed blood infections after taking it.
Rebel investor Benny Landa has already won some of his demands from Teva's leadership, including a smaller board with more pharma experience. Now, he's angling for more boardroom changes--and if Teva won't make them, he says, he will.
Controversial Teva chairman Phillip Frost may not be leaving until the end of this year, but the company already has its next chairman lined up. That's according to one of the company's activist investors. And he doesn't much like its pick.
European regulators are getting the hang of levying pay-for-delay penalties, rolling up 6 companies in its latest action and fining them more than half a billion dollars in the process.
Teva just won't give up on delaying generic Copaxone. Its latest tactic: filing a citizen petition with the FDA to once again push for full-scale, placebo-controlled clinical trials for all copies of its multiple sclerosis med.
Israel-based Teva Pharmaceutical Industries, in the midst of restructuring its manufacturing network, has faced a number of recalls of late. Now a New Jersey company is recalling nearly 130,000 cartons of Teva's human growth hormone for children because there is a chance that oil leaked into it.
In January, Teva chairman Dr. Phillip Frost promised some changes to the company's board in response to investor pressure. But it wasn't until Wednesday that he announced his own exit would be among them.
In the wake of a lawsuit brought by two California counties against five manufacturers of prescription painkillers, the city of Chicago has filed a suit of its own. Chicago is suing the same five pharma companies--alleging, much like California does, that they overstated the benefits of opioid painkillers while deceiving the public about the risks.
In March, a U.S. court struck down a key patent for Pfizer's Celebrex, suddenly opening the drug up to copycat rivals. Now, that competition has arrived as the FDA gave the green light to Celebrex copies from Teva Pharmaceutical and Mylan.
The EU's Committee for Medicinal Products for Human Use (CHMP) is sticking to its opinion to recommend against approval of Teva and Active Biotech's MS drug Nerventra. But the companies aren't giving up, announcing Friday that they remain committed to the clinical development program and plan to evaluate CHMP's feedback before they plot out their next steps.