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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...
Pfizer Announces Plan for Split-Off of Zoetis
May 22, 2013 8:15 am | Comments
Pfizer Inc. today announced its intention to split off its remaining interest in Zoetis Inc.,...
Biogen Submits New MS Drug for FDA Approval
May 21, 2013 4:11 pm | Comments
Biogen Idec has submitted a new injectable multiple sclerosis drug to the Food and Drug...
French Drugmaker on Trial, Suspected in Deaths
May 21, 2013 2:51 pm | Comments
The makers of a diabetes and weight loss drug suspected in the deaths of...
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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.
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.
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.
Drought Accelerates Use of Drugs to Beef Up Cattle
May 21, 2013 8:10 am | by ROXANA HEGEMAN,Associated Press | CommentsCattle feeders in the U.S. are coping with reduced herds and high corn costs in part by increasing their use of growth-inducing drugs designed to bulk up animals, get more pounds of beef from each carcass and circumvent the drought's withering effects on the food cycle.
Novo A/S acquires Xellia Pharmaceuticals for $700 million
May 21, 2013 8:03 am | CommentsXellia Pharmaceuticals, a pharmaceutical group focusing on the development, manufacturing and global commercialization of anti-infective therapies, announced today that Novo A/S, the holding company of the Novo Group, has purchased all shares of the group for approximately US$ 700 million from 3i and other current shareholders.
Pfizer Halts Study of Non-Hodgkin's Lymphoma Drug
May 20, 2013 6:39 pm | by LINDA A. JOHNSON - AP Business Writer - Associated Press | CommentsPfizer has halted a late-stage study of an experimental cancer compound being tested in patients with a certain form of non-Hodgkin's lymphoma, because an interim analysis showed the drug wasn't helping patients live longer. Pfizer said late Monday that it was stopping the study...
FDA Has Safety Concerns with Merck Insomnia Drug
May 20, 2013 11:42 am | by MATTHEW PERRONE - AP Health Writer - Associated Press | CommentsFederal health regulators say an experimental insomnia drug from Merck can help patients fall asleep, but it also carries worrisome side effects, including daytime drowsiness and suicidal thinking. The Food and Drug Administration on Monday released its review of the company's sleep aid,...
Measles Surges in UK Years after Vaccine Scare
May 20, 2013 8:30 am | by MARIA CHENG,AP Medical Writer | CommentsMore than a decade ago, British parents refused to give measles shots to at least a million children because of a vaccine scare that raised the specter of autism. Now, health officials are scrambling to catch up and stop a growing epidemic of the contagious disease.
Health Canada: Three Companies Recall Antipsychotic Drug Quetiapine
May 20, 2013 8:14 am | by The Canadian Press | CommentsHealth Canada says three companies are voluntarily recalling all lots of the antipsychotic drug quetiapine. A Health Canada news release says it's due to potential contamination with the antibiotic product clindamycin during the manufacturing process.
US Adviser on Board of Firm that Sold Anthrax Drug
May 20, 2013 8:10 am | CommentsFormer Navy Secretary Richard J. Danzig, who has served as a bio-warfare adviser to the president, the Pentagon, and the Department of Homeland Security, urged the government to stockpile an anti-anthrax drug while serving as a director for the company that supplied it, according to a report published Sunday.
Actavis Buying Warner Chilcott in $8.5B Deal
May 20, 2013 8:02 am | by MICHELLE CHAPMAN,AP Business Writer | CommentsActavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S. The announcement on comes after the two companies said earlier this month that they were in talks about a possible combination.
