Eli Lilly said that its net income and sales sank in the third quarter after its antidepressant Cymbalta lost patent protection and faced competition from less-expensive generics. Lilly said its revenue from Cymbalta plunged 73%t and revenue from the osteoporosis treatment Evista fell 65%.
The company reported net product sales of Soliris® (eculizumab) of $555.1 million in the third...
Sutro Biopharma and Celgene Corporation Enter Multi-Year Strategic Collaboration and Option to Acquire AgreementOctober 23, 2014 10:31 am | News | Comments
The scope of the collaboration allows the parties to systematically interrogate the immuno-...
The recent termination of AbbVie’s deal to acquire Shire makes this pharmaceuticals’ first major...
The companies announced a team-up in January but did not disclose terms. Without explaining the initial terms of the partnership, the companies said Zymeworks could get an additional $375M in milestones and other payments.
The company confirmed there was a case of progressive multifocal leukoencephalopathy, or PML, in one patient who took the drug Tecfidera. It said the patient recently died of complications of pneumonia.
Biogen Idec has reported third quarter 2014 results, including revenue of $2.5B, a 37% increase compared to the third quarter of 2013. Third quarter 2014 non-GAAP diluted earnings per share (EPS) were $3.80, an increase of 61% over the third quarter of 2013. Non-GAAP net income attributable to Biogen Idec for the third quarter was $900M, an increase of 60% over the third quarter of 2013.
The recent FDA approval of Harvoni, Gilead Sciences’ once-daily, single-tablet regimen to treat chronic hepatitis C virus genotype 1 infection in adults, will enable the company to maintain its dominance in an increasingly competitive market, says an analyst with research and consulting firm GlobalData.
Over the next 10 years, Roche will invest 3 billion Swiss francs in the construction of a new research and development centre for around 1,900 employees, in a state-of-the-art office building for up to 1,700 employees, in upgrading infrastructure, and in renovating the historic office building designed by Otto R. Salvisberg.
A hedge fund run by a famed investor has taken a large stake in Amgen and now wants the biotech drugmaker to consider splitting up into two. In a letter to investors, Third Point, a hedge fund run by Daniel Loeb, said it has recently increased its stake by an unspecified amount, making it one of the drugmaker's top shareholders.
A Spanish court has upheld an appeal by a German pharmaceutical company, ditching a previous ruling that ordered the company to pay compensation to 22 Spaniards who blame their disabilities on the drug thalidomide.
Johnson & Johnson will start safety testing in early January on a vaccine combination that could protect people from a strain of the deadly Ebola virus. The company has committed up to $200M to speed up and expand production of a vaccine program being developed by its Janssen Pharmaceutical Companies.
First, CVS Health pulled tobacco from its store shelves. Now, it plans to make some customers think twice about filling prescriptions at other stores that still sell smokes. The nation's second-largest drugstore chain is developing a new tobacco-free pharmacy network for clients of its Caremark pharmacy benefits management business.
AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said the deal was off following the decision last week by AbbVie's board to withdraw support from the proposed acquisition.
NewLink said it will get $150M upfront from Genentech, and could receive more than $1B in payments based on milestones, as well as royalties if the drug is approved. The drug, now called NLG919, is in early-stage clinical testing.
The European Union committed itself to step up efforts toward getting 1 billion euros ($1.27 billion) in aid to fight Ebola in West Africa and rejected the idea of halting direct flights coming from the region.
Canadian Law Professor Urges Country to Cancel Ebola Vaccine License with NewLink, Transfer Rights to Bigger CompanyOctober 20, 2014 1:57 pm | by Helen Branswell, The Canadian Press | News | Comments
A prominent law professor is urging the federal government to terminate an American company's licence for a Canadian-made Ebola vaccine. The company, NewLink Genetics, doesn't have the capacity to develop the much-needed vaccine, argues Amir Attaran, a professor of law and population health at the University of Ottawa.
Valeant Pharmaceuticals said that its strong third-quarter results and a higher growth forecast give it ammunition to win over reluctant takeover target Botox maker Allergan with an increased bid at the appropriate time.
Business World Columnist Holman Jenkins Jr. on what’s behind AbbVie’s decision not to merge with Dublin-based Shire.
China has donated $6 million to help stave off food shortages in the three African countries worst affected by the Ebola virus, the World Food Program announced Monday, part of Beijing's growing assistance to a continent where its companies have become major investors.
Aduro Expands Collaboration with Johnson & Johnson Innovation and Janssen for Lung Cancer ImmunotherapiesOctober 17, 2014 8:40 am | News | Comments
Under the agreement, facilitated by the Johnson & Johnson Innovation center in California, Aduro will receive a $30M up-front payment and is eligible to receive significant development, regulatory and commercialization milestone payments up to a potential total of $817M.
Nuvo Research Inc. has completed the sale of its PENNSAID 2% U.S. sales and marketing rights to Horizon Pharma for a cash payment of US$45 million (CDN$50 million) which was payable on closing.
Shares of Sarepta Therapeutics jumped 11 percent before the opening bell Friday after the drug developer said its potential Ebola treatment generated no safety concerns in early-stage human testing.
The development of a vaccine to prevent Ebola virus disease will be accelerated with support from the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response (ASPR).
Eli Lilly and Company has announced plans to conclude production and pursue a sale of one of its three manufacturing plants in Puerto Rico. The manufacturing site, located in Guayama, Puerto Rico, will remain in operation until the end of 2015.
Roche Holding AG posted flat sales for the first nine months of 2014, but said Thursday the results show strong demand for its cancer drugs and emerging new products.
AbbVie's board is telling shareholders to vote against its own $55 billion takeover bid for the Irish drugmaker Shire after the U.S. made reincorporating overseas a less lucrative tax maneuver.
The Supreme Court seems divided as it considers a high-stakes patent dispute between rival pharmaceutical companies over the world's best-selling multiple sclerosis treatment.
Since 2011 I have postulated that pharma needs a “creative destructionist” for its manufacturing technology innovations to get out from its archaic “quality by analysis” methods to “quality from the get go methods”. Current practices have cost patients billions in excessive costs. Generally most of the “creative destructionists” are from outside the industry, McLaren could be the one for the pharma and the chemical industry.
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