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FTC Clears Sun Pharma's $4B Purchase of Ranbaxy

January 30, 2015 2:44 pm | News | Comments

Sun Pharmaceuticals will sell the rights to one generic drug as part of its purchase of competitor Ranbaxy Laboratories, U.S. antitrust regulators said Friday. The Federal Trade Commission said the companies will sell Ranbaxy's interests in generic minocycline, an antibiotic used to treat several types of infections.

Obama Proposes 'Precision Medicine' to End One-Size-Fits-All

January 30, 2015 9:40 am | by LAURAN NEERGAARD, AP Medical Writer | News | Comments

The White House said that Obama will ask Congress for $215M for what he's calling a precision...

Dendreon Reaches Agreement for Valeant to Serve as “Stalking Horse Bidder” in Court-Supervised Sales Process

January 30, 2015 8:37 am | News | Comments

Under the terms of the agreement, Valeant would acquire the world-wide rights of PROVENGE® (...

Lilly Beats Wall Street Fourth Quarter Forecasts

January 30, 2015 8:34 am | News | Comments

Eli Lilly has reported fourth-quarter net income of $428.5M. On a per-share basis, the...

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Mylan Shareholders Approve Abbott Business Purchase

January 29, 2015 1:13 pm | News | Comments

Mylan announced that its shareholders approved its purchase of an Abbott Laboratories business and its tax-reducing move to the Netherlands. The company also said European Union regulators cleared the deal, which Mylan values at about $5.3 billion.

Industry Group: Medical Device Tax Led to Thousands of Job Cuts

January 29, 2015 11:39 am | by Andrew Szal, Editor, Pharmaceutical Processing | News | Comments

The Advanced Medical Technology Association said the tax -- which was enacted as part of the Affordable Care Act to generate revenue for the law -- resulted in 4,500 job reductions in 2014.           

Vetter Completes Structural Work on New Multi-Functional Development Service and Information Technology Building

January 29, 2015 10:40 am | News | Comments

Following 16 months of construction, the first phase of a modern, multi-functional building at Vetter’s Ravensburg Schuetzenstrasse site has been completed. Estimated to be fully operational by the beginning of 2016, the new facility will contain high-tech laboratories and workplaces for Vetter Development Service, as well as a highly secure data center and additional office space for a total area of 8,500 sqm.

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Study: Sponsors and CROs Implementing New Ways to Better Leverage Investigative Site Relationships

January 29, 2015 9:33 am | News | Comments

Improved investigative site relationship use and effectiveness are top objectives in 2015 for pharmaceutical companies and contract research organizations, according to drug industry R&D executives participating in a roundtable recently hosted by the Tufts Center for the Study of Drug Development.

Epizyme Appoints President of Research

January 29, 2015 9:29 am | News | Comments

Epizyme has announced that Robert A. Copeland, Ph.D., has been named President of Research. Dr. Copeland, who was previously Executive Vice President of Research and Chief Scientific Officer at Epizyme, will continue to serve as Chief Scientific Officer.

Abbott Beats Fourth Quarter Profit Forecasts

January 29, 2015 8:29 am | News | Comments

Abbott Laboratories has reported fourth-quarter earnings of $905 million. On a per-share basis, the North Chicago, Illinois-based company said it had profit of 59 cents. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.

Vertex Fourth Quarter Loss Deeper Than Expected

January 29, 2015 8:25 am | News | Comments

Vertex Pharmaceuticals reported a wider-than-expected fourth-quarter loss but its revenue topped Wall Street's forecasts. Its stock fell $2.26, or almost 2 percent, to $119 in aftermarket trading.         

Biogen Idec, Fondazione Telethon and Ospedale San Raffaele Announce Global Collaboration to Develop Gene Therapies for Hemophilia

January 29, 2015 8:06 am | News | Comments

The agreement will combine San Raffaele - Telethon Institute for Gene Therapy’s (TIGET) extensive expertise in creating new gene therapy strategies and developing them from the bench to bedside with Biogen Idec’s deep understanding of hematology to potentially treat the underlying causes of hemophilia A and B.

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Alexion Appoints New Chief Executive Officer

January 29, 2015 8:02 am | News | Comments

Alexion Pharmaceuticals announced that its Board of Directors has appointed David L. Hallal as the Company’s Chief Executive Officer (CEO), effective April 1, 2015. Mr. Hallal currently serves as Alexion’s Chief Operating Officer (COO) and is a Director of the Board.

Photo of the Day: Novartis CEO Joe Jimenez

January 28, 2015 11:16 am | by Mike Auerbach, Editor In Chief | News | Comments

It’s financial reporting season and the pharmaceutical industry is no exception. This week Novartis reported that its fourth quarter net income dropped a whopping 26% or “only” $1.49B compared to $2B from a year ago.      

Galmed and Perrigo Announced Agreement for Large-Scale Aramchol API Production

January 28, 2015 8:49 am | News | Comments

Galmed Pharmaceuticals announced today that it has entered into a Manufacturing Services Agreement with Perrigo for the large-scale production of the active pharmaceutical ingredient of Galmed's product candidate, aramchol.     

Amgen Tops Wall Street Fourth Quarter Forecasts

January 28, 2015 8:12 am | by LINDA A. JOHNSON, AP Business Writer | News | Comments

The world's biggest biotech drugmaker by revenue said it's starting a cycle of several important new product launches — big enough that last year it announced major job reductions and other cost cuts to free up money for the launches.   

PPD Expands Clinical Supplies Facility in Athlone, Ireland

January 28, 2015 8:07 am | News | Comments

Pharmaceutical Product Development, (PPD) has completed an expansion of its clinical supplies facility in Athlone, Ireland, that will enable the company to double its packaging warehousing capabilities and quadruple its distribution services. Those increases are the result of PPD more than tripling the size of the facility as part of its long-term strategy to expand its global depot network.

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Report: Single-Use Bioreactors Market to Grow to $471M by 2019

January 28, 2015 8:02 am | News | Comments

The single use bioreactors (SUBs) market is expected to grow at a double digit CAGR of 18.4% to reach $470.9 million by 2019 from $202.5 million in 2014. Developing markets such as China and India are lucrative markets for single-use bioreactors (SUB), owing to the low cost benefits offered by these nations.

Donors Pledge $7.5B for Global Vaccines Program

January 27, 2015 2:10 pm | News | Comments

Governments and private donors, among them the Bill and Melinda Gates Foundation, have pledged a record $7.5 billion to replenish a global vaccination program for the poor.             

Procter & Gamble's Fiscal Second Quarter Earnings Drop 31%

January 27, 2015 12:56 pm | by TOM MURPHY, AP Business Writers; CANDICE CHOI, AP Business Writers | News | Comments

The Cincinnati company, which sells products ranging from Tide detergent to Crest toothpaste, said Tuesday that exchange rates will remain a challenge well into fiscal 2015, especially in the second half of its year. Overall, it expects foreign exchange to chop its core, fiscal 2015 earnings by 12 percent and reduce its revenue by 5 percent.

Pfizer Net Down on Lower Sales, Higher Research, Legal Costs

January 27, 2015 12:53 pm | by LINDA A. JOHNSON, AP Business Writer | News | Comments

Pfizer's fourth-quarter profit fell by half as worsening generic competition and unfavorable currency rates reduced sales, and higher research spending and legal costs also hurt the bottom line. The world's second-biggest drugmaker by revenue reported lower sales for most of its huge portfolio of prescription medicines, with the biggest hit coming from new generic competition to popular painkiller Celebrex.

Pfizer Beats Wall Street Fourth Quarter Forecasts

January 27, 2015 7:42 am | News | Comments

Pfizer on Tuesday reported fourth-quarter earnings of $1.23B. On a per-share basis, the company said it had net income of 19 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 54 cents per share.

FDA Names Deputy Commissioner for Medical Products and Tobacco

January 27, 2015 7:28 am | News | Comments

U.S. Food and Drug Administration Commissioner Margaret A. Hamburg, M.D., has appointed Robert Califf, M.D., a recognized global leader in cardiology, clinical research, and medical economics, as FDA Deputy Commissioner for Medical Products and Tobacco. 

Novartis Posts Fourth Quarter Profit Drop

January 27, 2015 6:53 am | News | Comments

Novartis AG says fourth quarter net income dropped 26 percent but the company still posted a healthy 2014 annual profit. The Basel, Switzerland-based company said Tuesday that fourth quarter net income came in at $1.49 billion, down from $2 billion in the same quarter the year before.

Government to Overhaul Medicare Payments to Doctors, Hospitals

January 26, 2015 12:51 pm | by RICARDO ALONSO-ZALDIVAR, Associated Press | News | Comments

The Obama administration has announced a plan to shift Medicare payments it makes to hospitals and doctors so they reward quality over volume. Officials said they hoped the move would be a catalyst for the entire health-care system.   

GSK Expands Its Asthma and COPD Portfolio in the US

January 26, 2015 10:36 am | News | Comments

GlaxoSmithKline has announced the simultaneous availability of two of its recently approved products for the treatment of asthma and COPD to retail pharmacies in the US. Over the past 15 months, GSK has launched four inhaled respiratory therapies in the US, all delivered in its Ellipta inhaler.

FDA Approves Octapharma's Second Octagam® 10% Manufacturing Site

January 26, 2015 10:24 am | News | Comments

Octapharma announced that the FDA has approved the company’s manufacturing facility in Vienna, Austria for the production of Octagam 10% [Immune Globulin Intravenous (Human) 10% (100 mg/mL) Liquid Preparation], which became available in the U.S. during October 2014.

Gilead Expands Hepatitis C Generic Licensing Agreements to Include Investigational Pan-Genotypic Agent

January 26, 2015 8:30 am | News | Comments

Gilead Sciences has expanded its hepatitis C generic licensing agreements to include the investigational NS5A inhibitor GS-5816, which is being evaluated in Phase 3 clinical studies as part of a single tablet regimen that combines the compound and sofosbuvir for the treatment of all six genotypes of hepatitis C.

Array BioPharm to Acquire Novartis’ Encorafenib

January 23, 2015 8:23 am | News | Comments

Array BioPharma today announced that it has reached a definitive agreement with Novartis Pharma AG to acquire worldwide rights to encorafenib (LGX818), a BRAF inhibitor currently in Phase 3 development.        

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