Merck reported that sales in its animal health unit fell 6% year over year to $830 million in the fourth quarter of 2015, which included a 14% negative impact from foreign exchange rates.
AstraZeneca recently plunked down $575 million to get from Takeda global rights to the chronic obstructive pulmonary disease (COPD) treatment Daxas. It was the kind of deal that currently intrigues CEO Pascal Soriot, something that will immediately pay off and which falls into one of the three areas around which he is trying to rebuild the company.
A $774 million deal Hong Kong-listed Sino Biopharmaceutical planned to make by buying a stake in a Chinese asset management company has been axed by Sino after markets around the world have fallen, especially in China.
Industry watchers expected a show at Thursday's congressional drug price hearing, and the event did not disappoint. Members of Congress slammed Valeant and Turing Pharmaceuticals for dramatic prices increases, and also took shots at former Turing CEO Martin Shkreli, who remained close-lipped throughout the hearing.
AstraZeneca is suffering from a new round of patent losses, and that suffering will only worsen. Already hurting from generic competition to its former top-seller, Nexium, the London-based company will fall off another patent cliff this year--Crestor--and faces still another in Seroquel XR next year.
Beijing-based oncology biotech BeiGene prices its offer of 6.6 million American Depositary Shares at $24 each, the top of the range to take in $158.4 million in an initial public offering on the Nasdaq that should set the tone for another pending China-focused offering.
Merck & Co. took a one-two punch in the fourth quarter. Revenue from two top-selling franchises--Januvia and Remicade--slid, dragging overall sales below analyst estimates at $10.2 billion. One bright spot? A lower tax rate managed to boost Merck's earnings above analyst estimates at 93 cents per share.
GlaxoSmithKline CEO Andrew Witty is running out of ways to say it: A spinoff of the consumer health joint venture it shares with Novartis just isn't happening right now.
Novo Nordisk's bad news: It's lowering its long-term forecast for profits. Good news? Those forecasts are still at 10% annual growth, on average, which beats its Big Pharma rivals, no contest.
Interim Valeant CEO Howard Schiller has taken the reins at a tough time for the company. But the way the company sees it, he's reaping an appropriate reward.