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Economic Burden of Diabetes on the Rise; Hookah Smoke Warning

November 21, 2014 8:23 am | Videos | Comments

New research finds that the costs of diabetes care and lost productivity due to the condition totaled $322 billion in 2012. Also, new warnings about hookah smoke.               

Family Gets $6.75M in Botox Treatment Case

November 21, 2014 8:04 am | by DAVE GRAM, Associated Press | News | Comments

A New York couple who said Botox treatment of their son's cerebral palsy left him with life-...

German Court: e-Cigarette Liquids Not Medicines

November 20, 2014 3:32 pm | News | Comments

A German federal court has ruled that the liquids contained in e-cigarettes aren't medicinal...

Anthera and Patheon Sign Manufacturing Agreement for Liprotamase Phase III Registration Trial

November 20, 2014 11:23 am | News | Comments

Anthera Pharmaceuticals has signed a manufacturing and supply agreement with the Patheon...

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Surviving Pharma’s Uncertain Future

November 20, 2014 10:08 am | by Nathan Furr and Jeff Dyer | Articles | Comments

The average cost of developing an approved therapy is around $4.3 billion dollars for companies with three or more approved therapies, according to an analysis completed by Forbes. Imagine, then, our surprise when we discovered a biotechnology company outside of New York City that had developed three approved therapies for an average cost of $0.7 billion dollars – less than 20 percent of the industry average.

Cystic Fibrosis Foundation Sells $3.3B in Vertex Drug Royalties

November 20, 2014 8:48 am | News | Comments

The Cystic Fibrosis Foundation says it has sold royalty rights worth $3.3B for innovative drugs it helped develop with Vertex Pharmaceuticals. The drug rights were acquired by Royalty Pharma, which owns royalty rights to 40 pharmaceutical medicines.

Vetter Opens Singapore Office to Support Growing Asian Healthcare Market

November 20, 2014 8:42 am | News | Comments

Vetter has announced the opening of a new representative office in Singapore. The announcement was made at a ceremony attended by members of local government agencies and a number of executives of pharmaceutical/biotech companies with a presence in the Asian region, as well as Vetter executives.

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Soaring Generic Drug Prices Draw Senate Scrutiny

November 20, 2014 8:35 am | by MATTHEW PERRONE, AP Health Writer | News | Comments

Some low-cost generic drugs that have helped restrain health care costs for decades are seeing unexpected price spikes of up to 8,000 percent, prompting a backlash from patients, pharmacists and now Washington lawmakers.     

McKinsey Report Says Obesity Costs Hit $2T

November 20, 2014 8:19 am | News | Comments

A new report by the McKinsey Global Institute says that the global cost of obesity has risen to $2 trillion annually — nearly as much as smoking or the combined impact of armed violence, war and terrorism.        

Apellis Pharmaceuticals to Acquire Potentia Pharmaceuticals

November 20, 2014 8:00 am | News | Comments

Apellis Pharmaceuticals has entered into an agreement to acquire Potentia Pharmaceuticals. As part of the acquisition agreement, Apellis obtained the necessary intellectual property rights to develop its complement inhibitor drug compound (APL-2) in ophthalmology and plans its first clinical trial in dry age-related macular degeneration.

Shire to Relocate Over 500 Jobs to Massachusetts

November 19, 2014 2:04 pm | News | Comments

Shire has announced plans to relocate over 500 positions to Massachusetts from its Chesterbrook, Pennsylvania site and establish Lexington, Massachusetts as the company's U.S. operational headquarters. The transition is a continuation of the company's 'One Shire' efficiency program and will streamline business globally through two principal locations - Massachusetts and Switzerland.

Despite Patent Cliffs, Pharmaceutical Market Shows Signs of Stability, says GlobalData

November 19, 2014 11:52 am | News | Comments

The pharmaceutical market is beginning to show signs of stability, with a review of 30 leading companies highlighting combined revenues of $718.7 billion in 2013, down just 0.2% from 2012, according to research and consulting firm GlobalData.  

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Cost to Develop and Win Marketing Approval for a New Drug Is $2.6B

November 19, 2014 8:41 am | News | Comments

Developing a new prescription medicine that gains marketing approval, a process often lasting longer than a decade, is estimated to cost $2,558 million, according to a new study by the Tufts Center for the Study of Drug Development.    

Knight Sells Priority Review Voucher to Gilead

November 19, 2014 8:15 am | News | Comments

Knight Therapeutics today announced the sale of its Neglected Tropical Disease Priority Review Voucher ("PRV"). Knight will receive US$125 million in cash from Gilead Sciences, Inc. in exchange for the PRV.        

Sanofi Names Ebola Response Coordinator

November 18, 2014 11:37 am | News | Comments

Sanofi announced today that it has appointed Chief Scientific Officer Dr. Gary J. Nabel, M.D., Ph.D., as its Ebola response coordinator.                   

GlobalData Director: Actavis Continues Consolidation March with Highly Priced Allergan Deal

November 18, 2014 8:21 am | News | Comments

According to Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, "The integration of Allergan and Forest will help grow Actavis to a $22 billion healthcare company in 2015. This is a dramatic elevation from its $8.7 billion revenues recorded in 2013, the year in which Actavis completed the $5 billion acquisition of Warner Chilcott."

Clovis Oncology and GSK to Collaborate on Oncology Clinical Trial

November 18, 2014 8:12 am | News | Comments

Clovis Oncology has entered into a clinical trial collaboration with GlaxoSmithKline to evaluate a novel combination therapy targeting mutant epidermal growth factor receptor (EGFR) non-small cell lung cancer (NSCLC).      

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Zoetis Authorizes $500 Million Share Repurchase Program

November 18, 2014 8:02 am | News | Comments

Zoetis today announced that its Board of Directors has authorized a $500 million share repurchase program as part of its capital allocation plans. The shares are expected to be repurchased at the discretion of management, depending on market conditions and business needs.

The "Vaccine Court" Keeps Claimants Waiting

November 17, 2014 3:59 pm | by MITCH WEISS, Associated Press; JUSTIN PRITCHARD, Associated Press; TROY THIBODEAUX, Associated Press | News | Comments

To help people harmed by shots, Congress created the National Vaccine Injury Compensation Program. Government doctors and lawyers review claims. If they believe it is more likely than not that a vaccine — and not something else — caused the injury, they tap a $3.5 billion fund to pay for future care and lost wages. That fund is replenished by a 75-cent tax on each vaccine.

Actavis to Spend $66B on Allergan

November 17, 2014 10:24 am | by TOM MURPHY, AP Business Writer | News | Comments

Actavis will pay $66 billion to buy fellow drugmaker Allergan in a deal that could finally stop a months-long takeover push from Valeant Pharmaceuticals for the Botox maker.             

Zoetis to Purchase Assets of Abbott Animal Health

November 17, 2014 8:35 am | News | Comments

Zoetis today announced an agreement to purchase animal health assets of Abbott for a purchase price of $255 million. Abbott Animal Health is a companion animal health business focused on the veterinary surgical suite.      

BMS to Construct a New Large-Scale Biologics Manufacturing Facility in Cruiserath, Ireland

November 17, 2014 8:31 am | News | Comments

Bristol-Myers Squibb Company has announced plans to construct a new state-of-the-art, large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland, that will produce multiple therapies for the company’s growing biologics portfolio.

World Bank: Ebola Fund Would Create Incentives

November 17, 2014 8:28 am | by ROD McGUIRK, Associated Press | News | Comments

A proposed global emergency fund to contain the next Ebola outbreak would also provide an incentive for drug companies to develop vaccines to fight other future pandemics, World Bank President Jim Yong Kim said Friday.      

Merck and Pfizer to Develop Anti-PD-L1 to Accelerate Presence in Immuno-Oncology

November 17, 2014 8:15 am | News | Comments

Merck announced today that it has entered into a global agreement with Pfizer to co-develop and co-commercialize MSB0010718C, an investigational anti-PD-L1 antibody currently in development by Merck as a potential treatment for multiple tumor types to accelerate the two companies’ presence in immuno-oncology.

Allergan Soars on Deal Reports

November 17, 2014 8:11 am | by The Associated Press | News | Comments

Shares of Allergan jumped in premarket trading Monday after several reports surfaced over the weekend that specialty drugmaker Actavis was preparing to buy the maker of Botox, which is embroiled in a takeover battle with Valeant Pharmaceuticals.

Purdue Pharma Names Vice President of Medical Affairs

November 17, 2014 8:08 am | News | Comments

Purdue Pharma L.P. today announced that Gail Cawkwell, MD, PhD, former Vice President in the Medicines Development Group at Pfizer, has joined the company as Vice President of Medical Affairs.           

Zoetis Adopts Shareholder Rights Plan

November 14, 2014 6:11 pm | by The Associated Press | News | Comments

Zoetis Inc. said Friday that it has adopted a one-year shareholder rights plan. These plans, often known as "poison pills", are intended to fight off hostile takeovers. Zoetis said the plan would enable existing shareholders a right to buy preferred stock if a person or group acquires at least 15 percent of the company's stock and tries to buy more.

Geron Could Get $935M in Blood Disorder Drug Deal

November 13, 2014 5:12 pm | by The Associated Press | News | Comments

Geron Corp. could get more than $900 million from a deal to develop its blood disorder drug imetelstat with a unit of Johnson & Johnson. Geron said Janssen Biotech agreed to pay it $35 million upfront.        

VA Fires Pittsburgh Hospital Network's Director

November 13, 2014 2:05 pm | by JOE MANDAK, Associated Press | News | Comments

The Department of Veterans Affairs has fired the director of the Pittsburgh VA Healthcare System a month after officials determined she committed unspecified "conduct unbecoming a senior executive" and wasteful spending.     

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