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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...
FDA Approves Blood Test to Diagnose Diabetes
May 24, 2013 8:21 am | Comments
The Food and Drug Administration said Thursday it approved a new blood test...
WHO: Scientific Red Tape Mars Efforts vs. Virus
May 24, 2013 8:17 am | by JOHN HEILPRIN,Associated Press | Comments
International efforts to combat a new pneumonia-like virus that has now killed 22 people are...
Forest Labs Climbs as CEO Announces Retirement
May 24, 2013 8:11 am | Comments
Shares of Forest Laboratories Inc. rose to a year high Thursday after the drugmaker said Howard...
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Sinovac Beijing Obtains China GMP Certificate Under the New GMP Guidelines
May 24, 2013 8:26 am | CommentsSinovac Biotech Ltd. a provider of biopharmaceutical products in China, announced that Sinovac Beijing, the main operating subsidiary company of Sinovac, obtained the Certificate of Good Manufacturing Practices for Pharmaceutical Products (GMP Certificate) from the China State and Food Administration (CFDA) for its proprietary vaccines, its Haidian district bulk production plants, and its Changping filing and packaging facility.
Merck Ends Development of Parkinson's Disease Drug
May 23, 2013 5:31 pm | by The Associated Press | CommentsWHITEHOUSE STATION, N.J. (AP) — Merck & Co. says it is ending development of an experimental Parkinson's disease drug because the drug wasn't working. Merck says it reviewed initial data from three late-stage clinical trials and did not find evidence preladenant was more effective than a...
Alkermes Posts Fourth Quarter Profit as Royalty Payments Rise
May 23, 2013 12:44 pm | by The Associated Press | CommentsAlkermes PLC said Thursday that it was profitable in its fiscal fourth quarter as it received bigger royalty payments and more revenue for drug manufacturing. The Irish company said revenue from manufacturing and royalty payments climbed 33 percent during the quarter, and its total revenue rose...
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.
Biogen Idec Appoints New Chief Scientific Officer
May 23, 2013 8:23 am | CommentsBiogen Idec today announced that Spyros Artavanis-Tsakonas, Ph.D., has been named the company’s Chief Scientific Officer (CSO). Dr. Artavanis-Tsakonas had served as interim CSO while on sabbatical from Harvard Medical School. He will now continue in this role in a permanent capacity, and will also lead the company’s research strategy, capabilities and discovery platforms.
Royalty Pharma Eases Condition for Elan Offer
May 23, 2013 8:20 am | CommentsRoyalty Pharma has eased one of its conditions for completing its recently increased offer to buy Irish drugmaker Elan Corp. PLC for $12.50 per share, or about $7.5 billion. The New York company said Thursday it had lowered a threshold for the percentage of shareholders who must vote for the deal to more than 50 percent from 90 percent.
FDA Panel Backs Experimental Merck Insomnia Drug
May 22, 2013 5:46 pm | by MATTHEW PERRONE - AP Health Writer - Associated Press | CommentsA federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving. A majority of Food and Drug Administration panelists voted...
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.
