Pharma/Biotech News
Actavis Buying Warner Chilcott for $8.5B
May 20, 2013 8:00 am | by Michelle Chapman | News | CommentsActavis is buying Warner Chilcott in a transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S. The new company is expected to be called Actavis PLC and will be incorporated in Ireland, where Warner Chilcott is currently incorporated.
Impax Marketing Generic Zomig
May 17, 2013 10:46 am | News | CommentsImpax Laboratories Inc. is now selling a low-cost generic version of Zomig tablets and orally disintegrating Zomig tablets in two strengths. Zomig, or zolmitriptan, is available in tablet and nasal spray form and as tablets that will disintegrate and can be taken without liquid.
Prestige Turns 4Q Profit
May 16, 2013 7:04 am | by The Associated Press | News | CommentsPrestige Brands Holdings Inc. returned to a profit in its fiscal fourth quarter, benefiting from lower operating expenses and better sales of over-the-counter health care products. The company reported net income of $19.3 million for the three months ending March 31.
Merck Debt Rating Takes Hit
May 14, 2013 6:11 pm | News | CommentsMoody's Investors Service has lowered the long-term debt ratings of drug maker Merck & Co. The rating agency put Merck on review for downgrade at the beginning of May following the company's plans to buy back about $7.5 billion worth of its shares over the next 12 months.
Hospira's Former CSO Returns
May 14, 2013 1:58 pm | News | CommentsHospira Inc. said that Dr. Sumant Ramachandra was coming back as senior vice president and chief scientific officer, just two months after he had left the company. Ramachandra left the company in March to be president of research and development at Synta Pharmaceuticals Corp.
India Developing $1 Vaccine
May 14, 2013 9:21 am | by Ravi Nessman | News | CommentsThe Indian government announced the development of a new low-cost vaccine proven effective against a diarrhea-causing virus that is one of the leading causes of childhood deaths across the developing world. The Indian manufacturer of the new rotavirus vaccine pledged to sell it for $1 a dose.
Rebif Prices Push Merck Up 54%
May 14, 2013 5:46 am | by David McHugh | News | CommentsHigher prices for its multiple sclerosis drug Rebif helped German pharmaceutical and high-tech materials company Merck KGaA post a 54 percent rise in first-quarter profit. Merck also saw stronger sales of materials for liquid-crystal displays and raised its profit forecast, saying it would...
Optimer Names Sirota COO
May 13, 2013 4:59 pm | News | CommentsOptimer Pharmaceuticals said Monday that it has named Eric Sirota as its chief operating officer. The Jersey City, N.J., company said that Sirota has experience in building pharmaceutical brands and that his appointment fills a significant need at the company. Hank McKinnell, chairman and CEO of of Optimer, said the appointment allows him to focus on the strategic review process.
Impure Drugs Cost Ranbaxy $500M
May 13, 2013 2:28 pm | by Eric Tucker | News | CommentsA subsidiary of India's largest pharmaceutical company has agreed to pay $500 million in fines and civil penalties for selling adulterated drugs and lying about tests of the medications to federal regulators. Prosecutors said the guilty plea by Ranbaxy USA Inc. represents the largest financial penalty by a generic drug company for violations of the Federal Food, Drug and Cosmetic Act, which prohibits the sale of impure drugs.
FDA Denies Endo's Opana Request
May 10, 2013 5:53 pm | by The Associated Press | News | CommentsIn a surprise move Friday, federal health regulators denied a request by Endo Health Solutions to block generic versions of its painkiller Opana ER, which the company argued are more easily abused than its branded product. Endo's Opana ER is a long-acting narcotic drug used to treat moderate and and severe pain. Such medications are frequently crushed and then injected or snorted by drug abusers to achieve a euphoric effect.
Actavis, Warner Chilcott Talk Combination
May 10, 2013 3:38 pm | by MARLEY SEAMAN - AP Business Writer - Associated Press | News | CommentsThe drugmakers Actavis Inc. and Warner Chilcott PLC say they are holding early discussions about a possible combination of the two companies. The companies say there is no guarantee that Actavis will make an offer for Warner Chilcott, however. Actavis expects to generate more than $8.1 billion in revenue this year while Warner Chilcott expects raise about $2.3 billion to $2.4 billion.
Pfizer Having Second Thoughts on Remoxy
May 10, 2013 11:35 am | by The Associated Press | News | CommentsPfizer Inc. may not pursue further development of Remoxy, an experimental pain drug that has been plagued with delays in regulatory approval. Durect Corp. developed Remoxy and licensed it to Pain Therapeutics Inc. who in turn sublicensed the drug to Pfizer.
Competition Hammers Provenge Sales
May 9, 2013 1:54 pm | News | CommentsDendreon Corp. said that sales of its prostate cancer therapy Provenge fell in the first quarter because of increased competition from two newer drugs. Regulators approved Medication's Xtandi in August, and Johnson & Johnson has received approval to market Zytiga for use against prostate cancer.
Almac Out-Licenses ALM201
May 9, 2013 10:45 am | News | CommentsAlmac Discovery announced the licensing of its novel anti-angiogenic peptide ALM201 to Shin Poong Pharmaceutical Company Ltd. for clinical development and marketing in South Korea. Shin Poong will make an undisclosed upfront payment and pay milestones and royalties as part of the deal.
Vaccine Program Aimed at Vulnerable Girls
May 9, 2013 7:34 am | by Linda A. Johnson | News | CommentsTwo multinational drugmakers are teaming up with top global health groups to protect millions of girls in the world's poorest countries from deadly cervical cancer. The ambitious project ultimately is intended to inoculate more than 30 million girls in more than 40 countries by 2020.
Alexza Licenses Adasuve to Teva
May 8, 2013 1:30 pm | News | CommentsAlexza Pharmaceuticals Inc. said Teva Pharmaceutical Industries Ltd. will market its agitation drug Adasuve in the United States. The companies said that Teva will be responsible for all U.S. commercial and clinical-related activities, including a required post-approval study.
Endo Health Turns 1Q Profit
May 7, 2013 8:46 am | News | CommentsEndo Health Solutions Inc. turned a first-quarter profit, reversing a loss at the start of 2012, when the drug developer absorbed a sizeable pre-tax charge tied to a settlement and license agreement. The company said it earned $15.3 million in the three months that ended March 31.
Alnylam 1Q Loss Shrinks
May 6, 2013 6:07 pm | News | CommentsAlnylam Pharmaceuticals Inc. said it took a smaller loss in the first quarter as its expenses decreased. The RNAi drugmaker said its general and administrative spending decreased, but it also reported less in revenue because payments from its drug development partners decreased.
Lilly CEO Going Under the Knife
May 6, 2013 5:00 pm | News | CommentsDrugmaker Eli Lilly & Co. said that President, CEO and Chairman John Lechleiter will undergo surgery for a dilated aorta. The company said the condition was discovered during unrelated testing and Lechleiter has not experienced any symptoms.
Merck Pushes Its Consumer Products
May 6, 2013 1:24 pm | News | CommentsMerck & Co., the third-largest drugmaker, has been hurt by new generic competition like many other drugmakers, particularly for its top-selling asthma drug, Singulair. To offset that, Merck has been playing up its consumer-product division with a new ad campaign focusing on active families.
Pfizer Makes Move Towards Online Sales
May 6, 2013 3:20 am | by Linda A. Johnson | News | CommentsMen who are bashful about needing help in the bedroom no longer have to go to the drugstore to buy that little blue pill. In a first for the drug industry, Pfizer Inc. announced that it will begin selling its popular erectile dysfunction pill Viagra directly to patients on its website.
Positive Results Buoy Gilead
May 3, 2013 4:55 pm | News | CommentsGilead reported its first-quarter results and new trial data for two of its experimental hepatitis C drugs. Gilead said its net income climbed on lower costs and greater sales of its new HIV drugs Complera and Stribild. Sales of its heart drug Letairis and angina treatment Ranexa also improved.
Actavis Posts 1Q Loss
May 2, 2013 1:26 pm | News | CommentsGeneric drugmaker Actavis Inc. took a loss in the first quarter on costs related to acquisitions. Actavis combined with Watson Pharmaceuticals in October, and in January the company acquired Belgian drug developer Uteron Pharma to expand its women's health business.
Teva Q1 Profit Sinks 27%
May 2, 2013 10:14 am | News | CommentsTeva Pharmaceutical Industries Ltd.'s first-quarter earnings fell 27%, as generic competition, a weaker Japanese yen and other factors dragged down revenue for one of the world's largest generic drugmakers. The company's U.S. sales of Provigil plunged 92% in the quarter.
Sanofi Earnings Slashed In Q1
May 2, 2013 2:52 am | News | CommentsFrench 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.
