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Don't Take Vitamins, Doctor Warns in New Book
June 19, 2013 8:28 am | Videos | CommentsAmericans spend $34 billion a year on vitamins, supplements and alternative therapies. Now, a new book debunks treatments that may not really work. Dr. Paul Offit of the Children's Hospital of Philadelphia discusses his book, "Do You Believe in Magic?"
Protalix Signs Supply Deal with Brazilian Government
June 19, 2013 7:58 am | by The Associated Press | News | 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 | News | 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 | News | 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 Announces Withdrawal of Judicial Review and Lapse of Offer
June 18, 2013 8:11 am | News | CommentsRoyalty Pharma announced today that it had withdrawn its request for a judicial review of the Irish Takeover Panel's decision requiring it to lapse its offer for Elan Corporation, plc if, among other things, Elan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 | News | 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 | News | 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 | News | 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...
BioScrip Buying Drug Infusion Company for $223M
June 17, 2013 1:42 pm | by The Associated Press | News | CommentsBioScrip 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...
Perrigo Acquires Eye-Care Portfolio from Fera
June 17, 2013 11:15 am | by The Associated Press | News | 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 | News | 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 | News | 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...
Abbott Labs Plans to Buy Back up to $3B of Stock
June 14, 2013 1:02 pm | by The Associated Press | News | CommentsAbbott Laboratories said Friday that it plans to buy back up to $3 billion of its common stock, replacing a finished $5 billion program that began before the health care company separated from its drug business. Abbott makes generic drugs, medical implants and nutritional formula. It spun off its...
Vaccine Manufacturing Innovators Awarded Fraunhofer Prize
June 14, 2013 9:00 am | News | CommentsDr. Vidadi Yusibov, Executive Director of the Fraunhofer USA Center for Molecular Biotechnology (CMB), has received international recognition for development of the Center’s plant-based protein expression technology that lead to the construction of first in-its-kind good manufacturing practices (GMP) compliant automated bio-manufacturing plant.
Indiana City Sues Over Failed Pharmaceutical Facility
June 14, 2013 8:33 am | News | CommentsA suburban Indianapolis city has filed a foreclosure lawsuit against a pharmaceutical company that failed to open after receiving $8.4 million in loans and other assistance from the city. Greenwood officials had tried for months to help with talks involving possible investors in hopes of saving Elona Biotechnologies before deciding to file the lawsuit, Mayor Mark Myers said.
Bristol-Myers Squibb and Simcere Enter Partnership to Co-Develop and Co-Commercialize Orencia(R) SC (abatacept) in China
June 14, 2013 8:25 am | News | CommentsBristol-Myers Squibb Company and Simcere Pharmaceutical Group, a leading pharmaceutical company in China, today announced that the companies have expanded their strategic relationship formed in 2010. The companies have agreed to collaborate in China on the development and commercialization of the subcutaneous (SC) formulation of Bristol-Myers Squibb's biologic medicine, Orencia, for the treatment of rheumatoid arthritis.
GlaxoSmithKline Says No China Bribery Found
June 13, 2013 2:58 am | by The Associated Press | News | CommentsDrug manufacturer GlaxoSmithKline said Thursday it has investigated an accusation that its salespeople in China bribed doctors and found no evidence of wrongdoing. The company said it conducted a four-month investigation after receiving complaints from an anonymous source.
Anacor Pharmaceuticals Secures $45M Loan Facility
June 12, 2013 9:34 am | News | CommentsAnacor Pharmaceuticals announced today that it has entered into a loan agreement with Hercules Technology Growth Capital, Inc. for up to $45.0 million in new capital to be distributed in three tranches. Anacor borrowed the first tranche of $30.0 million upon the execution of the loan agreement on June 7, 2013 and used approximately $22.6 million to repay the remaining obligations under its loan agreement.
Pfizer Settles Protonix Patent Case for $2.15B
June 12, 2013 9:30 am | News | CommentsPfizer says it has reached a $2.15 billion settlement with a couple of generic drugmakers over sales of their versions of the heartburn drug Protonix. The world's second-largest drugmaker says Teva Pharmaceutical Industries will pay $1.6 billion to Pfizer and Japanese drugmaker Takeda Pharmaceutical.
Teva to Pay Pfizer and Nycomed $1.6B
June 12, 2013 9:27 am | News | CommentsTeva Pharmaceutical Industries Ltd. announced today that it has entered into a settlement agreement with Wyeth/Pfizer and Altana/Nycomed to resolve all claims relating to Teva’s sales, commencing in December 2007, of its 20 mg and 40 mg generic Protonix ® (pantoprazole sodium) tablets.
PDL BioPharma Wants Arbitration in Royalty Dispute
June 11, 2013 6:17 pm | by The Associated Press | News | CommentsPDL BioPharma Inc. said Tuesday it wants take Roche's Genentech business to arbitration over a royalty payment dispute. PDL said Genentech has underpaid royalties since at least 2007, and it wants to have Genentech's books and records inspected to determine if...
Questcor Names Former Shire CEO to Board
June 11, 2013 8:26 am | News | CommentsBiopharmaceutical company Questcor Pharmaceuticals Inc. said Monday that the recently retired CEO of Shire PLC, Angus C. Russell, has been added to its board. Russell was CEO of Shire, also a biopharmaceutical company, for five years. Before that, he was an executive at pharma companies ICI, Zeneca and AstraZeneca.
Forest Laboratories Appoints New Independent Director
June 11, 2013 8:10 am | News | CommentsForest Laboratories, Inc. today announced that, pursuant to an agreement with Carl C. Icahn and affiliated entities, its Board has appointed Vincent J. Intrieri as a new independent member of its Board of Directors. As part of the agreement, Mr. Icahn has agreed to vote the shares that he controls in support of Forest’s 11 director nominees and not run a proxy contest at the Company’s 2013 annual meeting.
Actavis and Medicines360 Announce Partnership to Advance Women's Access to Affordable IUDs
June 11, 2013 8:06 am | News | CommentsMedicines360, a non-profit pharmaceutical company, and Actavis, Inc., a global specialty pharmaceutical company, today announced a historic partnership to support Medicines360's mission to reduce cost as a barrier to accessing women's birth control. The Medicines360 and Actavis partnership will make the IUD available in the U.S. commercially and at a very low price in U.S. public sector clinics.
Ex-Bristol-Myers Exec Admits Insider Trading in NJ
June 10, 2013 4:43 pm | by The Associated Press | News | CommentsFederal prosecutors in New Jersey say a former executive for biopharmaceuticals company Bristol-Myers Squibb has admitted using his high-level position and access to nonpublic information to make about $310,000 from insider trades. Robert Ramnarine pleaded guilty Monday to securities fraud. The...
