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Biogen Idec First Quarter 2014 Revenues Reach $2.1B

April 23, 2014 | Comments

Biogen Idec today reported first quarter 2014 results, including revenue of $2.1 billion, a 51% increase compared to the first quarter of 2013. The revenue growth year-over-year was driven by strong TECFIDERA performance and from recording 100% of TYSABRI ® revenues following our acquisition of complete rights for the asset in the second quarter of 2013.

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EMD Millipore Appoints CEO and President

April 23, 2014 12:00 pm | Comments

EMD Millipore has announced the appointment of Udit Batra, Ph.D. as its incoming President and CEO, responsible for the organization’s strategic direction to drive growth and product innovation as well as oversight of the worldwide operations. Dr. Batra will assume leadership effective May 15, 2014 and be based at the company’s U.S. headquarters in Massachusetts.

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Pharma Pac Headed For Closure; Lays Off More Employees

April 23, 2014 8:56 am | by JEFF AMY, Associated Press | Comments

A Kemper County drugmaker has laid off most of its remaining employees, making it likely that it will shut down while owing the state economic development money. Pharma Pac laid off 84 employees from its DeKalb facility on March 7, according to a notice filed with the Mississippi Department of Employment Security.

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Michigan Man Among First in US to Get 'Bionic Eye'

April 23, 2014 8:20 am | by MIKE HOUSEHOLDER, Associated Press | Comments

Diagnosed with retinitis pigmentosa as a teenager, Pontz has been almost completely blind for years. Now, thanks to a high-tech procedure that involved the surgical implantation of a "bionic eye," he's regained enough of his eyesight to catch small glimpses of his wife, grandson and cat.

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Amgen Misses First Quarter Goals as Higher Costs Cut Profit

April 23, 2014 8:10 am | by LINDA A. JOHNSON, AP Business Writer | Comments

Despite higher sales, Amgen's first-quarter profit fell 25 percent as production and research costs rose sharply. Last year's quarter also gained from a tax benefit. The company missed Wall Street's expectations for both earnings per share and revenue, sending down its shares.

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Investor Pressure Pushing Pharmaceutical M&A Deals

April 22, 2014 7:31 pm | by Linda A. Johnson - AP Business Writer - Associated Press | Comments

Drugmakers eager to satisfy shareholders by boosting profits and share prices are wheeling, dealing and in one case even making trades like a pro sports team looking to shake up its roster. The moves could spur more mergers and acquisitions in the industry.

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Former Pharma Exec Gets 16 Months in Inside-Trader Case

April 22, 2014 2:37 pm | Comments

A former pharmaceutical executive has been sentenced to 16 months in prison for his role in an insider trading scheme. John Lazorchak was sentenced Tuesday in federal court in Newark, N.J.           

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Beckman Coulter Life Sciences To Acquire Cytometer Maker Xitogen

April 22, 2014 10:13 am | Comments

Beckman Coulter Life Sciences has entered into an agreement to acquire Xitogen Technologies Inc. together with Cytojene Corporation. Xitogen, a flow cytometer developer based in Suzhou and Dalian, China, will provide Beckman Coulter Life Sciences with both a strong operational base in the growing China market and a high quality research instrument to round out their world-class cytometry offering.

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Zoetis Appoints Acting Chief Financial Officer

April 22, 2014 9:03 am | Comments

Zoetis today announced that Glenn David, senior vice president of Finance Operations, has been named acting Chief Financial Officer (CFO), and will assume responsibility for the oversight of the company’s financial management and global operations, effective immediately.

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Elite Pharmaceuticals Granted New Patent for Abuse Deterrent Technology

April 22, 2014 8:22 am | Comments

Elite's abuse deterrent products utilize the company's proprietary pharmacological abuse deterrent technology. Elite's abuse deterrent technology is a multi-particulate capsule which contains an opioid agonist in addition to naltrexone, an opioid antagonist.

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E-cig Industry Awaits Looming FDA Regulation

April 22, 2014 8:14 am | by MICHAEL FELBERBAUM, AP Tobacco Writer | Comments

Smokers are increasingly turning to battery-powered electronic cigarettes to get their nicotine fix. They're about to find out what federal regulators have to say about the popular devices. The Food and Drug Administration will propose rules for e-cigarettes as early as this month.

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FDA Accepts Gilead's NDAs for Cobicistat and Elvitegravir for HIV Therapy

April 22, 2014 8:09 am | Comments

Gilead Sciences announced that the FDA has accepted the company’s refiling of two New Drug Applications (NDA) for cobicistat, a pharmacoenhancing or “boosting” agent that increases blood levels of the protease inhibitors atazanavir and darunavir to enable once-daily dosing of these medicines in HIV therapy, and elvitegravir, an integrase inhibitor for the treatment of HIV-1 infection in treatment-experienced adults.

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FDA Approves Cyramza for Stomach Cancer

April 22, 2014 8:05 am | Comments

The FDA has approved Cyramza (ramucirumab) to treat patients with advanced stomach cancer or gastroesophageal junction adenocarcinoma, a form of cancer located in the region where the esophagus joins the stomach.       

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Novartis, GSK, Lilly in Multibillion-Dollar Deals

April 22, 2014 4:28 am | by John Heilprin - Associated Press - Associated Press | Comments

Swiss pharmaceutical giant Novartis AG announced a series of multibillion-dollar deals Tuesday with other major pharmaceutical companies that it said would reduce sales but boost profitability, while affecting some 15,000 of its employees globally.

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Allergan Draws Bid from Valeant

April 22, 2014 12:29 am | by Ken Sweet - AP Business Writers - Associated Press | Comments

Valeant said Monday that it intends to propose a merger with Allergan using a combination of Valeant stock and cash. The transaction size has not been disclosed, but Valeant expects the cash portion of the deal to be at least $15 billion.   

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Saudi Health Minister Sacked Amid Virus Deaths

April 21, 2014 1:49 pm | by ABDULLAH AL-SHIHRI, Associated Press | Comments

Saudi Arabia's King Abdullah sacked the country's health minister on Monday amid a spike in deaths and infections from the virus known as the Middle East respiratory syndrome, or MERS.           

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