Lundbeck

Lundbeck poaches CEO from Wyeth ranks

Tue, 29 Apr 2008 06:59:55 -0400

Wanted: CEO who can find a new "cash cow" to push a Danish drugmaker past impending patent expirations. Found: Ulf Wiinberg, lately of Wyeth, to take over Lundbeck. Soon to be ex-president of Wyeth's operations in Europe, the Middle East, African and Canada, Wiinberg also had been charged with strategic oversight of Wyeth's biopharma. Can Wiinberg deliver for Lundbeck? No doubt we'll soon see what he can do.

- read Lundbeck's release
- check out the brief at Money AM
- see the item at PharmaGossip

ALSO NOTED: Thai FDA chief quits after one week; Congress asks FDA to nuke self-labeling rule

Tue, 04 Mar 2008 06:59:50 -0500

> In the midst of a controversy over patent-busting compulsory licenses, Thailand's new Food and Drug Administration chief quit after one week on the job. Report

> Seventeen House members asked FDA chief Andrew von Eschenbach to withdraw proposed rules that would allow drug makers to make their own changes to product labels; the reps said they feared the change would limit consumers' access to information about safety risks. Report

> Denmark's Lundbeck reported a 69 percent decline in fourth-quarter profits to $19 million, due to a writedown in value of its manufacturing facility in northern England. Report

> Federal prosecutors fined Florida-based White Broadman $1 million for selling unapproved ED drugs. Report

> The FDA gave its blessing to three new strengths of Endo Pharmaceuticals' Opana ER pain med. Report

> In other Endo news, the company removed Vice President Bill Newbould from his role as company spokesperson after he told a reporter that the company isn't evaluating a possible sale; because he wasn't privy to the discussions, Endo said, Newbould didn't know that the board had worked with financial advisers and consultants on a possible deal. Report

> The breast cancer remedy tamoxifen may be useful against bipolar disorder's mania phase, but side effects could pose difficulties for long-term use, researchers said. Release

> Eisai and its partners MGI Pharma and Helsinn Healthcare said the FDA gave the nod to their Aloxi injection to prevent post-operative nausea and vomiting. Release

> A Russian news service is reporting that Nycomed is looking for a site for a new pharmaceuticals plant in that country. Report

> Renovo's Juvista produced a mixed set of data in two mid-stage trials. Report

> Shire Human Genetic Therapies and a string of smaller drug developers have decided to pull up stakes from Cambridge and head for the suburbs. The exodus is being triggered by a desire to find less expensive digs. Report

> The Boston Globe weighs in with a lengthy look at the tussle over biogenerics--a.k.a. follow-ons and biosimilars. The smart money is betting that at some point in the not-too-distant future Congress will get around to giving the FDA authority to approve biogenerics on a case-by-case basis. Report

And Finally... If the presidential candidates were pharma brands, what would they be named? Hopium, for one. Report

Lexapro, Namenda boost Forest

Tue, 15 Jan 2008 06:59:54 -0500

Who does Forest Labs appreciate? Lexapro and Namenda, to name two. The two drugs helped boost the drug maker's fiscal third-quarter net by 21 percent to $301 million, or 96 cents a share. Revenue was up by 12 percent to $998 million. Analysts were expecting an average of 75 cents a share earnings on sales of $947 million.

Lexapro, the depression and anxiety drug that Forest sells under license from Denmark's Lundbeck, grew by 11 percent to $603.5 million during the quarter. Meanwhile, the Alzheimer's and dementia drug Namenda grew by 26 percent to $218 million. The strong third-quarter performance led Forest to increase its earnings outlook for the year: to $3.35 to $3.45 per share from $3.10 to $3.20 per share.

The only shadow on this strong quarterly report is the fact that Lexapro and Namenda will both soon lose patent protection, and generics makers already are fighting to make copycat versions.

- see the release from Forest Labs
- read the report in the Wall Street Journal

Related Articles:
Forest Labs gets Lexapro protection. Report
FDA OKs generic Lexapro. Report
Forest sues generics over Namenda. Report

ALSO NOTED: Caraco gets FDA nod for GSK seizure drug; Mylan prices offering of stock;

Wed, 14 Nov 2007 06:59:50 -0500

> Caraco Pharmaceutical got tentative FDA approval for its copycat form of GlaxoSmithKline's Lamictal, a remedy for seizures and bipolar episodes that sold some $1.89 billion in the 12 months ended Sept. 30. Release

> Mylan announced that it has priced its new offering of preferred stock at $1,000 per share and common stock at $14 per share; the company intends to sell 1.86 million shares of the former and 53.5 million of the latter. Release

> Lundbeck reported a 37 percent boost in third-quarter profits to about $170 million, excluding the one-time payment from Takeda Pharmaceutical on the commencement of their co-development deal. Release

> Orion is suing Sun Pharmaceuticals to protect its patent on Stalevo, a treatment for Parkinson's Disease. Report

> OraSure Technologies, which makes diagnostics for HIV and drug use, announced it has settled a patent infringement suit against Schering-Plough. Release

> A recent trial run by BioCryst was negatively impacted by short needles and fat arms. Report

> Sanofi Pasteur is buying into Acambis' program for a novel West Nile vaccine. Report

> Synta Pharmaceuticals' new, $1 billion pact with GlaxoSmithKline for the cancer drug elesclomol (code named STA-4783) is expected to open a spigot of cash for the drug developer. Report

> Nektar Therapeutics got a consolation prize of $135 million from Pfizer--and a fresh shot at signing a new partner--to calm any upset feelings about Pfizer's abandonment of Exubera. Report

And Finally... Book 'em, Danno. A Wyeth sales rep was arrested yesterday for allegedly stealing drug samples and reselling them to pharmacies at a discount. Report

Forest Labs gets Lexapro protection

Thu, 06 Sep 2007 06:59:57 -0400

How does Forest Labs spell relief? P-A-T-E-N-T. A federal court has validated the company's Lexapro protection, safeguarding that blockbuster antidepressant and antianxiety drug through 2012. The court also intervened to stop Teva Pharmaceuticals from launching a generic version of Lexapro, which is Forest's top seller at $2 billion per year.

- check out the release

Related Articles:
FDA OKs generic Lexapro. Report
Lundbeck chair hits exit. Report
Forest Labs dumps failed stroke drug program. Report