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The Lead

Execution Drug Cost Quadruples for Texas Prisons

August 15, 2014 2:45 pm | by MICHAEL GRACZYK, Associated Press | News | Comments

The prison agency in the nation's busiest death penalty state paid $13,500 for its most recent batch of pentobarbital at a cost of $1,500 per vial, compared to $350 per dose spent last year.           

Allergan Acquires LiRIS® Program from TARIS Biomedical®

August 14, 2014 8:43 am | News | Comments

Allergan has closed a transaction to acquire worldwide rights to TARIS Biomedical's® lead...

Dendreon Shares Sink After Company Warns of Debt Woes

August 13, 2014 8:26 am | by The Associated Press | News | Comments

The maker of the prostate cancer treatment Provenge said in a Securities and Exchange Commission...

Ebola Drug Developer Sees Wild Swings in Stock Price Amid Outbreak

August 13, 2014 8:18 am | by Lauren Krugel, The Canadian Press | News | Comments

A Canadian company developing an experimental Ebola drug has seen its stock swing wildly in what...

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McKesson Settles Tennessee Vaccine Case for $18M

August 11, 2014 8:29 am | News | Comments

McKesson Corp. was required to ensure vaccines were maintained at proper temperatures by, among other things, setting electronic temperature monitors to detect when air temperature in the box reached certain levels.      

MannKind, Sanofi Enter Afrezza Deal Worth $925M

August 11, 2014 8:07 am | by The Associated Press | News | Comments

MannKind will receive $150 million upfront and then potential milestone payments of up to $775 million, depending on whether certain regulatory, development and sales targets are met. MannKind will make the supply of Afrezza, and Sanofi will be responsible for global commercial, regulatory and development activities.

U.S. Government Exercises $18.9M Contract Option for Emergent BioSolutions' Vaccinia Immune Globulin Intravenous Program

August 8, 2014 8:08 am | News | Comments

Emergent BioSolutions announced today that the Centers for Disease Control and Prevention (CDC) has exercised options under contract 200-2012-52242 for the supply of Vaccinia Immune Globulin Intravenous (VIGIV) into the U.S. Strategic National Stockpile (SNS).

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AIDS Patients Fear Discrimination in ACA Exchange

August 7, 2014 8:47 am | by KELLI KENNEDY, Associated Press | News | Comments

Patient advocates say some insurance companies are making HIV and AIDS drugs unaffordable in plans issued through the Affordable Care Act by shifting much of the cost to customers. While the issue applies broadly to all patients with chronic illnesses that require expensive medication, HIV and AIDS advocates say they were the first to file a formal complaint with the government about pricing.

Mylan Second Quarter Profit Drops 30%

August 7, 2014 7:35 am | by The Associated Press | News | Comments

Mylan reported profit that declined by 30 percent in its second quarter, and missed analysts' expectations. The Canonsburg, Pennsylvania-based company said net income fell to $125.2 million, or 32 cents per share, from $177.7 million, or 46 cents per share.

Pfizer to Pay $35M to Settle Drug Marketing Case

August 6, 2014 4:38 pm | by The Associated Press | News | Comments

Pfizer will pay $35 million to resolve allegations by 42 states that its subsidiary, Wyeth Pharmaceuticals, illegally marketed an organ transplant drug for unapproved uses. The states' attorneys general said Wednesday that Wyeth, which Pfizer bought in 2009, trained sales representatives to prescribe Rapamune for uses other than preventing rejection of transplanted kidneys.

Why Fitting a Square Plug in a Round Hole is Profitable for Pharma and Most Likely Will Stay

August 6, 2014 8:50 am | by Girish Malhotra, PE; President, EPCOT International | Blogs | Comments

In 2005 I had raised a question about Batch or a Continuous Process: A Choice. At that time it seemed like a logical question and still is. However, I left part of the question unanswered. Missing was the discussion of components of pharma manufacturing, API manufacture and their formulations.

Despite FDA Woes Impax's Second Quarter 2014 Revenues Increased 45% to $188.1M

August 6, 2014 8:35 am | News | Comments

Impax Laboratories, today reported total revenues increased 45.1% to $188.1 million for the second quarter ended June 30, 2014, compared to $129.6 million in the prior year period.            

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Alvogen Acquires Korean Dream Pharma for $187M

August 6, 2014 8:22 am | News | Comments

Alvogen announced today that it has acquired Dream Pharma in South Korea for $187 million in cash. Dream will be acquired through Alvogen’s Asian subsidiaries and, on completion, will create one of the largest generic pharmaceutical companies in South Korea.

Walgreens and Alliance Boots Accelerate Efforts to Fully Combine Both Companies

August 6, 2014 8:07 am | News | Comments

Walgreens today said it has exercised its option to complete the second step of its strategic transaction with Alliance Boots GmbH ahead of the original option period, which was between February and August 2015. The transaction, subject to shareholder and various regulatory approvals, would fully combine the two companies to form the first global pharmacy-led, health and wellbeing enterprise.

Obama Seeks Executive Ways to Limit Tax Inversions

August 5, 2014 5:30 pm | by Josh Lederman - Associated Press - Associated Press | News | Comments

The Obama administration is looking for steps it could take on its own to prevent American companies from reincorporating overseas to shirk U.S. taxes, aiming to sidestep a logjam in Congress, officials said Tuesday. President Barack Obama has denounced so-called tax inversions as unpatriotic and has urged Congress to stop them.

Zoetis Second Quarter Profit Climbs 6.3%

August 5, 2014 11:31 am | by The Associated Press | News | Comments

Zoetis Inc. (ZTS) on Tuesday reported profit that rose by 6.3 percent in its second quarter, and fell short of analysts' expectations. The Florham Park, New Jersey-based company said earnings increased to $136 million, or 27 cents per share, from $128 million, or 26 cents per share, in the same quarter a year ago.

Actavis Reports Q2 Profit

August 5, 2014 9:27 am | by Associated Press | News | Comments

Actavis PLC (ACT) reported a second-quarter profit after posting a loss in the same period a year ago. The company's results beat analysts' expectations.                                  

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Allergan Sues Valeant, Claims Fraud in Buy Attempt

August 1, 2014 3:34 pm | by Linda A. Johnson - AP Business Writer - Associated Press | News | Comments

Allergan Inc.'s lawsuit, filed Friday in U.S. District Court in Santa Ana, California, names as plaintiffs drugmaker Valeant Pharmaceuticals International Inc., New York investment and hedge fund firm Pershing Square Capital Management LP and its principal, William Ackerman.

Valeant Forecast Overshadows Strong Quarter

July 31, 2014 1:29 pm | by The Associated Press | News | Comments

The Canadian drugmaker now expects 2014 earnings to range between $7.90 and $8.10 per share, down from a forecast it made in April for $8.55 to $8.80 per share.               

Meda to Acquire Rottapharm

July 31, 2014 8:14 am | News | Comments

Meda announced today that it has entered into a definitive agreement to acquire Rottapharm/Madaus, an Italian company owned by the Rovati family, for a consideration of SEK 21.2 billion on a cash and debt free basis.      

Sanofi Second Quarter Profit Surges

July 31, 2014 8:06 am | News | Comments

Sanofi said today its earnings soared in the second quarter thanks to lower accounting charges than a year earlier, and the company lifted it full-year profit forecast.              

Illinois Medicaid Restricts Use of Hepatitis Drug

July 30, 2014 3:57 pm | by CARLA K. JOHNSON, AP Medical Writer | News | Comments

Facing ballooning costs for a $1,000 pill to treat hepatitis C, Illinois' Medicaid program is putting tight restrictions in place, including requiring patients to meet 25 criteria and get prior approval before the government program will pay for the new drug.

Pharma Economics - 101

July 30, 2014 3:22 pm | by Mike Auerbach, Editor In Chief | Blogs | Comments

There has always been much hand-wringing and shouting regarding the costs of new medications. Most of this comes from people outside the industry – politicians, public health advocates, and a smattering of those that just like to hear themselves talk.

McKesson Extends Pharmaceutical Distribution Agreement with CVS Caremark

July 30, 2014 10:45 am | News | Comments

McKesson Corporation today announced a three-year extension of its existing distribution agreement with CVS Caremark through June, 2019.                   

PCI Announces Definitive Agreement to Acquire Penn Pharma

July 30, 2014 8:38 am | News | Comments

Packaging Coordinators has reached a definitive agreement to acquire Penn Pharmaceutical Services Limited. Penn Pharma is headquartered in Tredegar, Wales in the United Kingdom and operates regional offices in New Hope, Pennsylvania and Tokyo, Japan.

AstraZeneca to Acquire Almirall's Respiratory Disease Business

July 30, 2014 8:11 am | News | Comments

AstraZeneca today announced that it has entered an agreement to transfer to the company the rights to Almirall’s respiratory franchise for an initial consideration of $875 million on completion, and up to $1.22 billion in development, launch, and sales-related milestones.

Baxter to Sell Commercial Vaccines Business to Pfizer

July 30, 2014 8:06 am | News | Comments

Baxter International has entered into a definitive agreement to sell its two commercially marketed vaccines and related production facilities to Pfizer Inc. for a total cash consideration of $635 million, subject to certain adjustments.   

Amgen Laying Off at Least 2,400

July 30, 2014 7:56 am | by LINDA A. JOHNSON, AP Business Writer | News | Comments

Amgen said it will lay off 12 to 15 percent of its worldwide workforce and close four sites, even as it reported stellar second-quarter results that trounced Wall Street expectations.           

Impax Labs Shares Slump after FDA Inspection

July 29, 2014 3:59 pm | News | Comments

Shares of Impax Labs sank Tuesday after an FDA inspection uncovered potential problems at a facility where the company will make its experimental Parkinson's disease drug Rytary.            

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