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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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Ebola Death Toll in West Africa Rises to 147

April 24, 2014 8:28 am | Comments

The World Health Organization says 147 people have died from the Ebola virus outbreak in West Africa. In a statement posted on its website, the organization said more than 240 cases of the virus have been recorded in Guinea and Liberia.   

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FDA Approves Sylvant for Rare Castleman’s Disease

April 24, 2014 8:18 am | Comments

The FDA has approved Sylvant (siltuximab) to treat patients with multicentric Castleman’s disease (MCD), a rare disorder similar to lymphoma (cancer of the lymph nodes). MCD causes an abnormal overgrowth of immune cells in lymph nodes and related tissues in the body.

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Celgene Acquires Late-Stage Product for Crohn’s Disease and Other Gastrointestinal Disorders

April 24, 2014 8:14 am | Comments

Celgene Corporation entered into a global license agreement with Nogra Pharma Limited, a private pharmaceutical company based in Dublin, Ireland, to develop and commercialize GED-0301, an oral antisense DNA oligonucleotide targeting Smad7 mRNA for the treatment of moderate-to-severe Crohn’s disease and other indications.

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Eli Lilly First Quarter Profit Plunges

April 24, 2014 8:11 am | Comments

Eli Lilly's first-quarter earnings plunged 53 percent after the expiration of a key patent protecting its top-selling antidepressant cut into the drugmaker's revenue.              

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FDA Proposes First Regulations for E-Cigarettes

April 24, 2014 8:01 am | by MICHAEL FELBERBAUM, AP Tobacco Writer | Comments

The federal government wants to ban sales of electronic cigarettes to minors and require approval for new products and health warning labels under regulations being proposed by the Food and Drug Administration.       

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New Drug Sales Help Boost Novartis First Quarter Profit

April 24, 2014 5:30 am | by John Heilprin - Associated Press - Associated Press | Comments

Strong new drug sales helped Novartis AG report a 24 percent rise in first-quarter profit. The company said Thursday that its net profit of nearly $2.97 billion, which was up from $2.42 billion in the same period last year, was helped by sales growth from some of its newwst product launches.

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Valeant to Replace Three Board Members; Allergan Adopts Poison Pill Defense

April 23, 2014 2:24 pm | by Ross Marowits, The Canadian Press | Comments

Valeant Pharmaceuticals International says three of its directors will not stand for re-election this year as it pursues the acquisition of Botox maker Allergan, which has adopted a "poison pill" defense while it considers the offer.   

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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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Three More Charged in $80M Eli Lilly Heist in Connecticut

April 22, 2014 6:29 pm | by John Christoffersen - Associated Press - Associated Press | Comments

Federal authorities have charged three more Florida men in the theft of about $80 million in prescription drugs from an Eli Lilly warehouse in Connecticut. The 2010 heist is believed to be the largest theft in Connecticut history, and included thousands of boxes of Zyprexa, Cymbalta, Prozac,...

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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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