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The Lead

Ten Cities Where the Drug Business Thrives

July 24, 2014 1:54 pm | News | Comments

They've got money, connections and hordes of eager college students. Ten U.S. cities head a new list of best places to develop and distribute drugs...of the legal kind, that is.  The 2014 JLL Global Life Sciences Cluster Report analyzes the top cities where science and pharmaceutical innovation converge.

BMS Second Quarter Net Drops on Lower Drug Sales, Charges

July 24, 2014 8:15 am | News | Comments

Bristol-Myers Squibb Co.'s exit from the diabetes business, plus higher taxes and research...

Lilly Second Quarter Profit Falls 39%

July 24, 2014 7:31 am | by The Associated Press | News | Comments

Eli Lilly and Co. (LLY) on Thursday reported profit that declined by 39 percent in its second...

Roche Posts Seven Percent Profit Drop

July 24, 2014 2:29 am | by The Associated Press | News | Comments

Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with...

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Biogen Idec Second Quarter 2014 Revenues Increase 40%

July 23, 2014 9:18 am | News | Comments

Biogen Idec today reported second quarter 2014 results, including revenue of $2.4 billion, a 40% increase compared to the second quarter of 2013. Second quarter 2014 non-GAAP diluted earnings per share (EPS) were $3.49, an increase of 52% over the second quarter of 2013.

GSK's CEO and CFO Discuss the Company's Second Quarter Results

July 23, 2014 9:13 am | Videos | Comments

GSK CEO Sir Andrew Witty and CFO Simon Dingemans on the group’s Q2 2014 results and strategy update.                         

Shire Enters Strategic Licensing and Collaboration Agreement with ArmaGen

July 23, 2014 8:02 am | News | Comments

Shire and ArmaGen announced a worldwide licensing and collaboration agreement for AGT-182, an investigational enzyme replacement therapy (ERT) for the potential treatment of both the central nervous system (CNS) and somatic manifestations in patients with Hunter syndrome (MPS II).

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How Inversion Deals Help Drug Makers Save on Taxes

July 22, 2014 8:59 am | Videos | Comments

Drug companies and medical device makers are making multi-billion-dollar merger deals to avoid high U.S. corporate taxes. How do so-called "inversion deals" work?               

J&J Buying Back $5B Worth of its Shares

July 21, 2014 6:26 pm | by The Associated Press | News | Comments

Johnson & Johnson, the world's biggest maker of health care products, plans to buy back up to $5 billion of the company's common stock. The maker of prescription drugs, medical devices and Tylenol said Monday that its board of directors had approved the stock buyback program.

Allergan Reports Second Quarter 2014 Operating Results; Announces Layoffs

July 21, 2014 8:45 am | News | Comments

Allergan, Inc. announced operating results for the quarter ended June 30, 2014 and announced a restructuring that will eliminate 1500 jobs.                   

Teva Completes Acquisition of Labrys

July 21, 2014 8:15 am | News | Comments

The acquisition of Labrys brings to Teva LBR-101, a fully humanized monoclonal antibody that binds to calcitonin gene-related peptide (CGRP), which is currently in Phase IIb clinical trials for prevention of chronic and episodic migraine.  

Arena Pharmaceuticals to Market and Supply BELVIQ in Israel

July 21, 2014 8:12 am | News | Comments

Arena Pharmaceuticals, Inc. today announced that its wholly owned subsidiary, Arena Pharmaceuticals GmbH, has entered into an exclusive marketing and supply agreement for BELVIQ with Teva Pharmaceutical Industries Limited's local Israeli subsidiary, Abic Marketing Limited.

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GTCR to Acquire Cole-Parmer Instrument Company

July 17, 2014 1:55 pm | News | Comments

GTCR, a private equity firm, has entered into a definitive agreement to acquire the Cole-Parmer Instrument Company from Thermo Fisher Scientific Inc. for $480 million. Cole-Parmer, headquartered in Vernon Hills, Illinois, is a global manufacturer and distributor of specialty laboratory equipment, instruments and supplies to a diverse range of industries.

Novartis Cites Momentum in 3% Profit Rise

July 17, 2014 2:30 am | by The Associated Press | News | Comments

Novartis AG says its second-quarter profit rose 3 percent from a year earlier, reflecting solid growth and an increased focus on core products. The Basel-based company reports that profit during the April-June quarter rose to $3.28 billion, up from $3.18 billion in the same quarter of 2013.

Strides Arcolab Makes Investments in Oncobiologics

July 16, 2014 11:28 am | News | Comments

The investment is part of Strides' strategy to fund promising biopharma companies with high quality scientific management and proprietary approaches to developments that confer significant time and cost advantages.      

Abbott Second Quarter Profit Falls on Higher Taxes, Revenue Up

July 16, 2014 9:37 am | News | Comments

Abbott Laboratories said that its second-quarter profit declined 2.1 percent, hampered by higher taxes. Adjusted profit and revenue topped Wall Street expectations, however, and the company boosted its full-year earnings forecast.    

Pfizer to Acquire InnoPharma

July 16, 2014 9:34 am | News | Comments

Pfizer and InnoPharma, a privately held pharmaceutical development company, today announced that they have entered into an agreement under which Pfizer will acquire InnoPharma. Under the terms of the agreement, Pfizer will acquire InnoPharma for an upfront cash payment of $225 million, with up to $135 million of contingent milestone payments.

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Anthera Pharmaceuticals Acquires Sollpur for Exocrine Pancreatic Insufficiency From Eli Lilly

July 15, 2014 9:04 am | News | Comments

Sollpura is a soluble, stable and non-porcine enzyme product intended for the treatment of patients with low digestive enzyme levels, or Exocrine Pancreatic Insufficiency (EPI), due to cystic fibrosis, and potentially other diseases.   

LEO Pharma and KLOX Technologies Strike Global Dermatology Deal

July 15, 2014 8:57 am | News | Comments

LEO Pharma and KLOX Technologies Inc. have entered into a worldwide license and joint venture agreement, excluding Canada, to further develop and commercialize KLOX's BioPhotonic technology platform in dermatology, which includes a CE approved treatment for moderate to severe acne. 

J&J Second Quarter Profit Climbs 13%

July 15, 2014 8:48 am | News | Comments

The New Brunswick, New Jersey-based company said earnings increased to $4.33 billion, or $1.51 per share, from $3.83 billion, or $1.33 per share, in the same quarter a year ago.            

Pharmaceutical and Other US Companies Look Overseas for Tax Bill Relief

July 14, 2014 3:33 pm | by TOM MURPHY, AP Business Writer | News | Comments

A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue.       

Mylan to Buy Abbott's Generic Drugs Business in $5.3B Deal

July 14, 2014 8:17 am | News | Comments

Mylan said Monday that the deal will diversify and expand its business outside the U.S. The combined company will be organized in the Netherlands, which will help reduce its tax expenses, while maintaining its headquarters near Pittsburgh.  

AbbVie, Shire Enter Detailed Talks on Combination

July 14, 2014 7:27 am | by The Associated Press | News | Comments

AbbVie and Shire are in detailed talks about a possible combination after AbbVie once again raised the deal price and gave Shire shareholders a bigger stake in the new company. Shire says North Chicago, Illinois-based AbbVie is now offering a cash-stock combination valued at 53.20 British pounds ($91.10) for each share of Shire, which is headquartered on the British island of Jersey.

US to Lead the Megadeal Charge for Second Half of 2014

July 11, 2014 8:52 am | News | Comments

Multi-billion dollar deals across a variety of sectors dominated headlines throughout the first half of 2014, and despite virtually flat US deal volumes rising deal values could be indicative of an M&A rebound to come, according to EY Transaction Advisory Services.

More 'Headline-Grabbing' Corporate Deals Expected

July 10, 2014 8:29 am | by PAN PYLAS, Associated Press | News | Comments

More "headline-grabbing" acquisitions are likely over the coming year as businesses take advantage of a period of improving economic growth and cheap financing. That's the conclusion of business consulting firm EY, which says the value of takeover deals announced in the first half of 2014 struck its highest level since the end of the boom years in 2007.

Who Pays Your Doc? 95% of Doctors Accept Gifts

July 9, 2014 2:43 pm | by MATTHEW PERRONE, AP Health Writer | News | Comments

Nearly 95 percent of U.S. physicians accept gifts, meals, payments, travel and other services from companies that make the drugs and medical products they prescribe, according to the New England Journal of Medicine.      

Celgene Says Otezla Falls Short in Added Use Study

July 9, 2014 9:40 am | News | Comments

Shares of Celgene Corp. slipped in premarket trading Wednesday after the drugmaker said its psoriatic arthritis treatment Otezla missed the main goal of a late-stage study exploring an additional use.         

Salix Pharmaceuticals to Combine with Cosmo Technologies to Form Salix Pharmaceuticals, plc

July 9, 2014 8:57 am | News | Comments

Salix Pharmaceuticals, Ltd. and Cosmo Pharmaceuticals S.p.A. announced a definitive merger agreement under which Salix will combine with Cosmo Technologies Limited (“Cosmo Tech”), a subsidiary of Cosmo. Under the terms of the agreement, Salix will become a wholly-owned subsidiary of Irish domiciled Cosmo Tech.

$580M EU Antitrust Fine for Drug Makers

July 9, 2014 8:14 am | News | Comments

The European Union's antitrust body is imposing a fine of 428 million euros ($580 million) on France's pharmaceutical company Servier and five producers of generic medicines for distorting competition.        

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