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BioScrip Buying Drug Infusion Company for $223M
June 17, 2013 | by The Associated Press | Comments
BioScrip Inc. plans to expand its drug infusion business with a $223 million acquisition of CarePoint, which administers drugs to patients in their homes and other locations outside of hospitals. BioScrip, of Elmsford, N.Y., provides medication infusion services such as IVs and administers...
Mississippi AG Hood Will Subpoena Google on Drug Sales
June 19, 2013 8:10 am | by JEFF AMY,Associated Press | Comments
Mississippi's attorney general says he still considers Google's responses to allegations that it...
Study: Wiser Medication Use Could Cut Health Costs
June 19, 2013 8:02 am | by LINDA A. JOHNSON,AP Business Writer | Comments
If doctors and patients used prescription drugs more wisely, they could save the U.S. health...
Arkansas AG Seeks to Uphold Verdict Against J&J
June 18, 2013 8:20 pm | by ANDREW DeMILLO - Associated Press - Associated Press | Comments
Arkansas' attorney general filed a brief Tuesday backed by his counterparts in 35 other states...
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Protalix Signs Supply Deal with Brazilian Government
June 19, 2013 7:58 am | by The Associated Press | CommentsShares of Protalix BioTherapeutics jumped in premarket trading Wednesday after the company announced a deal that requires the Brazilian government to buy at least $280M of the company's Gaucher disease treatment. The Israeli company said an arm of the Brazilian Ministry of Health has committed to buying at least $40M of the drug annually during the seven-year agreement for Uplyso.
FDA Investigates Zyprexa Relprevv Patient Deaths
June 18, 2013 1:31 pm | by The Associated Press | CommentsFederal regulators are investigating the deaths of two patients who received injections of a longer-lasting version of Eli Lilly's antipsychotic Zyprexa. The Food and Drug Administration said Tuesday that the patients died three to four days after receiving an appropriate dose of the drug known...
AMRI Burlington Receives DEA Approval to Handle Controlled Substances
June 18, 2013 10:59 am | CommentsAMRI announced today that its Burlington, Mass., site has received approval to expand its current U.S. Drug Enforcement Administration (DEA) registration to handle Schedule 2 and 2N controlled substances. The license represents the DEA’s acknowledgement of Burlington’s physical security and quality systems, including inventory control and documentation.
Royalty Pharma Lets Elan Takeover Bid Expire
June 18, 2013 9:37 am | by TOM MURPHY,AP Business Writer | CommentsRoyalty Pharma has let its latest takeover bid for Irish drugmaker Elan lapse as it decided against pressing ahead with a court challenge of a requirement that it withdraw the offer. Royalty offered earlier this month to pay $13 per share for each Elan share plus up to $2.50 per share in payments based on performance milestones. That totaled about $7.76 billion not counting the milestone payments.
AstraZeneca Selects Location for New Global R&D Centre and Corporate Headquarters in Cambridge, UK
June 18, 2013 9:03 am | CommentsAstraZeneca today announced that its new UK-based global research and development centre and corporate headquarters will be located at the Cambridge Biomedical Campus on the southern outskirts of the city. By 2016, the new site will house a highly-skilled workforce of approximately 2,000.
Royalty Pharma Announces Withdrawal of Judicial Review and Lapse of Offer
June 18, 2013 8:11 am | CommentsRoyalty Pharma announced today that it had withdrawn its request for a judicial review of the Irish Takeover Panel's decision requiring it to lapse its offer for Elan Corporation, plc if, among other things, Elan shareholders approved the Share Repurchase Program.
Report: Slowdown in Health Care Costs to Continue
June 18, 2013 8:07 am | by RICARDO ALONSO-ZALDIVAR,Associated Press | CommentsThere's good news for most companies that provide health benefits for their employees: America's slowdown in medical costs may be turning into a trend, rather than a mere pause. A report Tuesday from accounting and consulting giant PwC projects lower overall growth in medical costs for next year, even as the economy gains strength and millions of uninsured people receive coverage under President Barack Obama's health care law.
Valeant Pharma Plans $1.75B Stock Offering
June 17, 2013 4:53 pm | by The Associated Press | CommentsCanadian drugmaker Valeant Pharmaceuticals International Inc. said Monday it will sell $1.75 billion in stock to help fund its acquisition of Bausch + Lomb. Valeant did not say how many shares it plans to sell. The company said it plans to raise $1.75 billion before discounts, expenses, and other...
Globus Faces $16M Payment over Patent Dispute
June 17, 2013 1:59 pm | by The Associated Press | CommentsSpinal implant manufacturer Globus Medical may have to pay $16 million after a jury decided that three of its products infringed on the patents held by DePuy Synthes Products LLC, a unit of Johnson & Johnson Inc. Globus said that the jury in the U.S. District Court in Delaware made its...
Teva Pharma Buying MicroDose Therapeutx for $40M
June 17, 2013 1:25 pm | by The Associated Press | CommentsTeva Pharmaceutical Industries Ltd. said Monday that it is buying MicroDose Therapeutx for $40 million to build its pipeline of respiratory products. Teva, based in Israel, is one of the world's largest makers of generic drugs. It also makes branded medicines. As part of the deal for MicroDose,...
Perrigo Acquires Eye-Care Portfolio from Fera
June 17, 2013 11:15 am | by The Associated Press | CommentsPerrigo Co. said Monday that it bought the ophthalmic ointment and solution portfolio of Fera Pharmaceuticals LLC for $93 million in cash. Perrigo has been looking for an ophthalmic deal as part of its strategy to expand its presence in the niche topical medication market. The company also...
US: 'Pay to Delay' Generic Drugs Can Be illegal
June 17, 2013 10:58 am | by JESSE J. HOLLAND - Associated Press - Associated Press | CommentsThe Supreme Court ruled Monday that deals between pharmaceutical corporations and their generic drug competitors, which government officials say keep cheaper forms of medicine off the market, can be sometimes be illegal and therefore challenged by federal officials in court. The justices voted...
J&J to Buy Aragon For at Least $650M
June 17, 2013 10:08 am | by The Associated Press | CommentsJohnson & Johnson said Monday that it has agreed to buy Aragon Pharmaceuticals Inc. for at least $650 million in cash, boosting its position in prostate drug development. The privately-held San Diego, company is focused on the development of drugs to treat hormonally-driven cancers. Under...
Lilly to Take Over Development of Diabetes Drug
June 17, 2013 9:16 am | by The Associated Press | CommentsEli Lilly and Co. will pay Canadian drug developer Transition Therapeutics Inc. $7 million and take over the development of a potential diabetes treatment heading into mid-stage clinical testing. Transition said Monday it also could receive up to $240 million in additional payments, plus...
Elan Holders OK Buyback, Vote Down Three Deals
June 17, 2013 8:43 am | CommentsShareholders of Irish drugmaker Elan Corp. PLC have potentially ended a takeover bid from Royalty Pharma by voting in favor of an Elan share buyback plan. The Dublin-based company's shareholders also rejected at a Monday meeting three separate deals that the Elan board has pushed instead of the Royalty takeover bid.
