French drug maker Sanofi said its net profit was slashed in the first quarter from a year earlier as falling sales and patent losses on key drugs combined to hammer earnings. Sanofi's net profit was $1.3 billion in the January-March quarter, down 45% from a year earlier.
Pharmacyclics Inc. had a bigger loss in the first quarter as its costs increased. Pharmacyclics said costs increased with the timing of stock option grants, growth in its share price, and hiring employees. The company is developing the cancer drug ibrutinib with a unit of Johnson & Johnson.
Companion diagnostic tools allow companies to increase their chances of drug approval by targeting the right patients early. Developing the strategy, timing, and resources necessary for companion diagnostics success begins with understanding the mechanisms that successful companies use to build their programs.
Allergan executives announced that are delaying late-stage testing of an experimental eye treatment by one to two years. Allergan was previously expected to launch a study of DARP-in, an experimental drug for macular degeneration, by late 2013.
Hospira Inc. took a loss in the first quarter after it decided to take some of its older infusion pumps and devices off the market. Hospira will retire older products like its Symbiq infusion device, GemStar pumps, and some of its Plum and PCA pumps.
Moody's Investors Service said that it's reviewing its ratings for drugmaker Merck & Co.'s and may downgrade them. Moody's cited Merck's plan to buy back about $7.5 billion worth of its shares over the next 12 months. Those repurchases are part of a new $15 billion share repurchase program approved by Merck's board.
Actavis has acquired a bacterial vaginosis gel developed by Valeant Pharmaceuticals. Actavis said it agreed to pay Valeant $55 million for its metronidazole gel product, which has not yet received marketing approval. The total includes both an upfront payment and payments related to sales targets.
Perosphere and Daiichi Sankyo have entered into a clinical trial agreement under which Daiichi Sankyo will support and co-sponsor a Phase 1 clinical trial testing the safety, tolerability, and effectiveness of PER977 to reverse the anticoagulant activity of Daiichi Sankyo’s edoxaban.
Merck & Co. reported lower first-quarter results and cut its 2013 profit forecast by 15 cents a share. Merck tried to reassure investors by announcing a huge share buyback, up to $15 billion worth of its stock, but its share price dropped nearly 3% in premarket trading after its revenue missed expectations.
There’s hope for patients with myotonic dystrophy. A new small-molecule has been shown to break up the protein-RNA clusters that cause the disease in living human cells, an important first step toward developing a pharmaceutical treatment for the as-yet untreatable disease.
Researchers have found a way to see synthetic nanostructures and molecules using a new type of super-resolution optical microscopy that does not require fluorescent dyes, representing a practical tool for biomedical and nanotechnology research.
Despite advances that have been made in sunscreen technology and growing public awareness of the need for sunscreen, recent data have found that the average U.S. lifetime risk of invasive melanoma has increased from 1 in 600 in 1960 to 1 in 50 in 2008.
Cells ingest proteins and engulf bacteria by a gymnastic, shape-shifting process called endocytosis. New research reveals, on the real-life scale of nanometers, how individual molecules work together during a single act of endocytosis.
Pfizer Inc.'s first-quarter net income rose 53% despite growing generic drug competition as the drugmaker benefited from a gain related to a joint venture with China. But the company's results still fell short of Wall Street's expectations, and Pfizer lowered its 2013 profit forecast.
Researchers using a stripped-down experimental system have exposed the possible function, in the healthy brain, of a mysterious molecule that has been strongly implicated in Parkinson's disease, a degenerative disorder of the central nervous system.