News
The Lead
Merck to Repurchase $5B in Common Stock
May 21, 2013 | by The Associated Press | Comments
WHITEHOUSE STATION, N.J. (AP) — Merck & Co Inc. said it will repurchase $5 billion worth of its common stock under an accelerated share repurchase agreement with Goldman Sachs & Co. Merck, the world's third-largest drugmaker, said the buyback program is part of a previously announced $15...
Biogen Idec Appoints New Chief Scientific Officer
May 23, 2013 8:23 am | Comments
Biogen Idec today announced that Spyros Artavanis-Tsakonas, Ph.D., has been named the company’s...
Royalty Pharma Eases Condition for Elan Offer
May 23, 2013 8:20 am | Comments
Royalty Pharma has eased one of its conditions for completing its recently increased offer to...
FDA Panel Backs Experimental Merck Insomnia Drug
May 22, 2013 5:46 pm | by MATTHEW PERRONE - AP Health Writer - Associated Press | Comments
A federal panel of medical experts said that an experimental insomnia drug from Merck & Co....
FREE Daily Email Newsletter
Birth Control Coverage Up for Federal Appeal
May 23, 2013 8:59 am | by KRISTEN WYATT,Associated Press | CommentsIn the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill.
Amag Slumps on Ferahame Recall in Switzerland
May 23, 2013 8:43 am | CommentsAmag said its partner Takeda Pharmaceutical is taking a batch of the drug off the market in Switzerland. Amag said four patients experienced severe allergic reactions to the drug, and one of those patients died. That batch was sold only in Switzerland, and the recall doesn't affect any other countries.
J&J Anticipates 10 Potential New Product Filings by 2017
May 23, 2013 8:36 am | CommentsAt a meeting today with industry analysts, senior leaders from the Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen) announced they anticipate submitting more than 10 new product filings and more than 25 significant brand line extensions by 2017.
Moody's to Review Hospira Rating for Downgrade
May 22, 2013 3:11 pm | by The Associated Press | CommentsMoody's Investors Service on Wednesday placed Hospira Inc.'s "Baa3" long-term debt rating under review for possible downgrade. The ratings agency said the move was based on a concern that the drug and medical device maker's performance over the next few years remains uncertain as a result of costs...
Glaxo, US Partnering to Develop New Antibiotics
May 22, 2013 2:26 pm | by HZL-LAJ - By The Associated Press - Associated Press | CommentsGlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines. Antibiotic resistance will become a global crisis, experts predict, because most drug...
PhRMA Names New Head of Policy & Research Department
May 22, 2013 8:44 am | CommentsThe Pharmaceutical Research and Manufacturers of America (PhRMA) today announced that Lori Reilly will become Executive Vice President of Policy and Research, effective June 7, 2013. She succeeds Rick Smith, who will retire after 11 years of service with PhRMA. Reilly will report directly to PhRMA President and CEO John Castellani and serve as a member of the PhRMA Management Committee.
Pfizer Announces Plan for Split-Off of Zoetis
May 22, 2013 8:15 am | CommentsPfizer Inc. today announced its intention to split off its remaining interest in Zoetis Inc., through an exchange offer. Zoetis, formerly Pfizer’s animal health business, completed its initial public offering (IPO) in February 2013. In the exchange offer, Pfizer shareholders can exchange all, some or none of their shares of Pfizer common stock for shares of Zoetis common stock owned by Pfizer.
Cancer Society Hits 100 as US Cancer Rate Falls
May 22, 2013 8:08 am | by MIKE STOBBE,AP Medical Writer | CommentsThe American Cancer Society — one of the nation's best known and influential health advocacy groups — is 100 years old this week. Back in 1913 when it was formed, cancer was a lesser threat for most Americans. The biggest killers then were flu, pneumonia, tuberculosis, and stomach bugs. At a time when average life expectancy was 47, few lived long enough to get cancer.
Study: New Drug May Help Some Asthmatics
May 22, 2013 8:01 am | by By Andrew Pollack, New York Times News Service | CommentsA new asthma drug being developed by Sanofi and Regeneron Pharmaceuticals may help patients whose condition is not well controlled by existing medicines, according to the results of a small clinical trial released Tuesday. In the 12-week study, the number of asthma attacks or other outbreaks of symptoms decreased by 87 percent in those getting the drug, Dupilumab, compared with those getting a placebo.
Biogen Submits New MS Drug for FDA Approval
May 21, 2013 4:11 pm | CommentsBiogen Idec has submitted a new injectable multiple sclerosis drug to the Food and Drug Administration for U.S. market approval. The drug, called Plegridy, is intended to treat patients with relapsing forms of multiple sclerosis, a disease of the immune system in which the body attacks the brain and spinal cord.
French Drugmaker on Trial, Suspected in Deaths
May 21, 2013 2:51 pm | CommentsThe makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety. But after years of delays in one of France's biggest recent health scandals, the proceedings could still be pushed back further.
AcelRx Pain Treatment Meets Late-Stage Study Goals
May 21, 2013 11:30 am | by The Associated Press | CommentsShares of AcelRx Pharmaceuticals Inc. hit an all-time high price Tuesday, after the specialty drugmaker said its NanoTab pain treatment system met its main goal in late-stage research, and the company is preparing to submit it to regulators for approval. The Redwood City, Calif., company said...
Peregrine Rises on Agreement for Late-Stage Study
May 21, 2013 8:44 am | CommentsShares of Peregrine Pharmaceuticals surged Monday after the company said it would move ahead with a late-stage trial of its lead product, the experimental lung cancer treatment bavituximab. Peregrine said in a release it reached an agreement with the Food and Drug Administration on a phase III study of its drug involving 600 patients.
XenoPort MS Treatment Fails in Late-Stage Testing
May 21, 2013 8:18 am | by The Associated Press | CommentsShares of XenoPort Inc. sank Monday after the drug developer said a potential treatment for multiple sclerosis patients failed in late-stage clinical testing, and it will stop developing the drug. The Santa Clara, Calif., company said the treatment, labeled arbaclofen placarbil, failed to show a statistically significant improvement for patients taking it compared to a fake drug.
Royalty Pharma Increases Bid for Elan
May 21, 2013 8:13 am | CommentsRoyalty Pharma has raised its offer to buy Elan on the condition that shareholders reject the Irish drugmaker's push to refocus its business through a string of recently announced deals, including two new deals unveiled Monday. Royalty said Monday it will pay $12.50 in cash for each share of Elan Corp. PLC. That adds up to a total value of about $7.5 billion.
