FDA cites violations at three Novartis plants

2011-12-06T12:30:32Z

(Reuters) - Drug regulators cited Novartis AG for "significant violations" of manufacturing regulations at its three generic drug plants in the United States and Canada, several of which were repeat offenses.

Reuters) - The government urged the Supreme Court to rule in favor of a generic drugmaker in a case over how companies can fight brand-name rivals to get cheaper drugs to market.

The nation's top court on Monday heard arguments about whether the generics company, Reuters) - Regulators and drugmakers need to find ways to make more clinical data openly available, since vital knowledge about fighting disease is often locked away in confidential databases, the head of the U.S. drugs watchdog said on Monday.

Food and Drug Administration

Court rejects Teva appeal over cholesterol drug Crestor

2011-12-02T11:30:25Z

(Reuters) - A federal appeals court on Thursday refused to revive Teva Pharmaceutical Industries Ltd's patent infringement suit against AstraZeneca Pharmaceuticals LP for the rights to Reuters) - Pfizer Inc and Teva Pharmceutical Industries Ltd were sued by Walgreen Co and four other large retailers, accused of violating U.S. antitrust law by conspiring to keep generic v...

Facebook apologizes for Merck homepage mix-up

2011-11-28T15:00:25Z

(Reuters) - Facebook Inc said on Monday that it made a mistake in letting Merck & Co take over a page on the social networking website from its German rival Merck KGaA.

The takeover prompted an unusual November 21 filing by Merck KGaA with a New York state court.

...

Merck said to hijack German rival's Facebook page

2011-11-23T14:00:14Z

(Reuters) - German drugmaker Merck KGaA accused U.S. rival Merck & Co of hijacking its Facebook page and said it plans to sue to get it back.

Merck KGaA asked a New York judge to force Facebook Inc to turn over information to help determine how the Germa...

Merck fined $950 mn over painkiller marketing

2011-11-23T05:30:22Z

Pharmaceutical giant Merck will pay nearly $1 billion to resolve criminal and civil charges for wrongfully marketing its former hit painkiller Vioxx, the US Department of Justice said.

Merck agreed to plead guilty to breaking the Food, Drug, and Cosmetic Act after it promoted Vioxx for rheumatoid arthritis when the drug had not been approved for that disease...

FDA warns Mylan on Puerto Rico plant violations

2011-11-22T08:00:24Z

(Reuters) - U.S. drug regulators found "significant violations" of manufacturing regulations at Mylan Inc's Caguas, Puerto Rico, facility, according to a letter posted on Tuesday.

A Reuters) - A continuing shortage of some essential medicines in Britain is to be investigated by members of parliament, following complaints by pharmacists that vital supplies are being lost to exports.

The All-Party Pharmacy Group, which announced its inquiry on Monday, said shortages in the supply chain had be...

Returns on R&D tumble at world's top drugmakers

2011-11-21T08:00:34Z

LONDON (Reuters) - Investment returns from researching new drugs have fallen nearly 30 percent in the past year at the world's 12 top pharmaceutical companies, highlighting the productivity dilemma facing the sector, according to a report on Monday.

The average internal rate of return (IRR) from research and development dropped to 8.4 percent from 11.8 percent a year ago ...

Novartis unit pays $150 million to end drug-price dispute

2011-11-20T05:00:12Z

ZURICH (Reuters) - Novartis' Sandoz unit has agreed to pay $150 million Swiss francs to settle claims it charged the U.S. and state governments inflated prices for drugs, a Swiss newspaper reported on Sunday.

Under the deal Novartis will pay the U.S. government $86.5 m...

U.S. doctors group supports fight on drug shortages

2011-11-14T15:00:32Z

NEW ORLEANS (Reuters) - The American Medical Association threw its support behind government efforts to ensure the supply of lifesaving medicines but stopped short of recommending financial penalties against drug companies.

The influential...

No need for new cost cut plan at Roche: chairman

2011-11-13T03:00:07Z

ZURICH (Reuters) - Swiss drugmaker Roche Holding AG does not need a new cost cutting program after it announced a big savings plan last year, Chairman Franz Humer told a newspaper on Sunday.

"We don't need new programs....

Analysis: Europe's crisis spells more pain for drugmakers

2011-11-10T04:30:17Z

LONDON (Reuters) - Drugmakers are counting the cost of the deepening euro zone crisis, with further austerity-driven price cuts expected in important European markets, including Italy and France.

Growing alarm at multip...

FDA spurns Merck contraceptive, glaucoma drug

2011-11-09T13:00:20Z

(Reuters) - The Food and Drug Administration has declined to approve an oral contraceptive and a glaucoma treatment being developed by Merck & Co Inc, but the drugmaker did not disclose details of the agency's concerns.

Merck already sells both products in some overseas markets. The contraceptive, cal...

China drug executive sentenced to death for graft

2011-11-09T03:31:52Z

China has sentenced to death the former president of state-owned Shanghai Pharmaceutical Group for corruption, state media said Wednesday, in a case that has fuelled concerns over drug safety.

A Shanghai court on Tuesday sentenced Wu Jianwen, 42, to death with a two-year reprieve for ta...

Novartis drug helps in severe childhood arthritis

2011-11-07T02:32:14Z

ZURICH (Reuters) - Novartis' Ilaris helps patients with the most serious form of childhood arthritis, a second late-stage study has shown, further boosting prospects for the Swiss drugmaker's medicine that hit a setback earlier this year.

...

Novartis unit Alcon faces U.S. health fraud probe

2011-10-25T10:00:07Z

(Reuters) - Novartis's recently acquired eyecare business Alcon is facing a U.S. government investigation into alleged healthcare fraud, the Swiss drugmaker said on Tuesday.

Alcon received a subpoena from the Novartis said on Tuesday it would slash 2,000 jobs, mostly in Switzerland and the United States, despite reporting third quarter net profits of $3.53 billion (2.5 billion euros).

The firm said in a statement that profits for the quarter were up 12 percent but that the job cuts were part of a ...

Novartis to cut 2,000 jobs to save annual $200 million

2011-10-25T04:00:09Z

ZURICH (Reuters) - Novartis AG is slashing 2,000 jobs in Switzerland and the United States to keep costs under control in the face of growing price pressures and the strong Swiss franc, the Swiss drugmaker sa...

Forest Labs looks longterm for next product deals

2011-10-13T15:00:07Z

(Reuters) - Forest Laboratories Inc is looking more at earlier-stage products to acquire rather than more advanced ones because it feels confident it can weather the patent expirations of its two biggest medicines, the drugmaker's finance chief said on Thursday.

Forest has one of the most severe "patent c...

EU sets out tough rules on medicines information

2011-10-11T06:00:25Z

LONDON (Reuters) - Europe will strictly limit the amount of information that drugmakers can supply to the public on prescription-only medicines and retain a ban on advertising under proposed rules set out on Tuesday.

The latest proposals from the European Commissio...

AstraZeneca's U.S. business to cut 400 jobs

2011-10-06T12:30:39Z

(Reuters) - AstraZeneca Plc said on Thursday it will cut about 400 jobs from its U.S. commercial business as Britain's second-largest drugmaker seeks to reduce costs.

The cuts will hit the company's U.S...

AstraZeneca back in court to defend Crestor patent

2011-10-05T06:00:38Z

(Reuters) - AstraZeneca went back to court on Wednesday to defend the U.S. patent on its multibillion-dollar cholesterol fighter Crestor in the face of an appeal by generic drugmakers.

Industry analysts believe the British company is likely to win the case, protecting exclus...

Targacept depression drug: high risk, high reward

2011-10-03T14:00:16Z

BOSTON (Reuters) - Targacept Inc, a small drugmaker that began life inside the bowels of R.J. Reynolds Tobacco Co, has for years been using its understanding of nicotine to develop experimental treatments for depression, schizophrenia and, yes, ...

Drugs firm GSK 'eyes India acquisitions'

2011-10-03T09:30:30Z

British drugmaker GlaxoSmithKline is in the market to buy assets in India at a total cost of up to $2.0 billion (1.5 billion euros), its chief executive said in an interview published on Monday.

Chief executive Andrew Witty told The Times newspaper that GSK was seeking "bolt-on acquisitions" as it seeks ...

Novartis seeks approval for new smoker's cough drug

2011-09-26T23:00:04Z

AMSTERDAM (Reuters) - Swiss drugmaker Novartis said it has applied to start selling its experimental drug to treat smoker's cough -- which afflicts 80 million people worldwide -- after tests showed that it helped patients breathe more easily.

Novartis has carried out late-stage trials for ...

Novartis cut 2,500 jobs globally: report

2011-09-25T09:00:07Z

ZURICH (Reuters) - Swiss drugmaker Novartis cut 2,500 jobs at sites across the world in a bid to control costs, the daily Tages Anzeiger reported on Saturday.

Like many pharmaceutical companies, Novartis is starting to face generic competition, with i...

Roche halts drug supply to Greek hospitals over unpaid bills

2011-09-18T15:30:34Z

Swiss pharmaceutical giant Roche has stopped delivering its medicines to some Greek hospitals as they have failed to pay their bills, a spokesman confirmed Sunday.

"There are hospitals who haven't paid their bills in three or four years," a Roche spokesman said, quoting chief executive Severin Schwan. "There comes a point where the business is not sustainable anymore."

Schwan noted in particular that Gre...

Novartis drug helps in serious childhood arthritis

2011-09-16T10:00:13Z

(Reuters) - Patients with the most serious form of childhood arthritis can get substantial symptom relief from a Novartis drug, researchers said on Friday, raising hopes for a product that had a recent setback in its application to treat gout.

Ilaris

Fear in US as drug shortages mount

2011-09-04T15:30:10Z

Shortages of vital drugs, particularly cancer-fighting medication, have raised concerns in the United States, where regulators often have to race to try to find replacements.

A recent report by the Food and Drug Administration (FDA) found that the number of important treatments that are difficult or impossible to find nearly ...

Eli Lilly may partner with Turkish generic maker: report

2011-09-01T22:30:07Z

(Reuters) - U.S. drugmaker Eli Lilly & Co is in talks to form a partnership with, and potentially invest in, Turkish generic-drug company Mustafa Nevzat Ilac Sanayii AS (MN Pharmaceuticals), the Wall Street Journal reported...

Pfizer, Dr. Reddy's settle Lipitor patent battle

2011-08-31T12:30:49Z

NEW YORK (Reuters) - Pfizer Inc reached a settlement with Dr. Reddy's Laboratories , an Indian drugmaker that has been fighting in court to launch cheaper generic forms of Pfizer's blockbuster cholesterol fighter, the companies said on Wedne...

Pfizer wins Viagra patent battle against Teva

2011-08-15T06:00:13Z

BOSTON (Reuters) - Pfizer Inc said on Monday it won a patent infringement case against the U.S. unit of Teva Pharmaceuticals Industries Ltd, preventing Teva from launching a generic version of Pfizer's erectile dysfunc...

India's Ranbaxy's Q2 profit down 25 percent

2011-08-05T12:30:29Z

Top Indian generic drugmaker Ranbaxy Laboratories on Friday reported a 25 percent drop in its second-quarter net profit, buffeted by US regulatory problems, but it still beat market forecasts.

Net profit for the generic and branded pharma giant, which is controlled by Japan's PHILADELPHIA (Reuters) - Relatives of a man whose chemist wife is accused of poisoning him with thallium have filed a wrongful death lawsuit against the pharmaceutical company where she worked and the hospital where he died.

Xiaoye Wang, 39, a computer engineer also known as Alex Wang, died on January 26 at Uni...

Pfizer profit rises, buoyed by animal products

2011-08-02T04:30:22Z

NEW YORK (Reuters) - Pfizer Inc reported higher second-quarter earnings, as booming sales of animal health products that company aims to divest helped offset falling sales of its core pharmaceuticals business.

The world's biggest drugmaker said on Tuesday that it earned $2.61 billion, or 33 cents per share, compared wi...

FDA finds drug research firm faked samples, documents

2011-07-27T13:00:53Z

WASHINGTON (Reuters) - Drug companies that had medicines tested by contractor Cetero Research might have to reevaluate results, U.S. regulators warned after the firm was found faking documents and manipulating samples.

The Food and Drug Administration said on Tuesday two 2010 ins...

FDA finds U.S. drug research firm faked documents

2011-07-26T16:00:25Z

The Food and Drug Administr...

AstraZeneca not planning confirmatory Brilinta trial

2011-07-21T07:01:03Z

LONDON (Reuters) - AstraZeneca Plc has no plans to run a clinical trial to confirm the reasons behind a discrepancy between the performance of its newly approved heart drug Brilinta in North America and other parts ...

South African ruling party mulls state drugs firm

2011-07-19T16:30:16Z

South Africa's ruling party Tuesday said it was considering setting up a state-owned pharmaceutical company to capture the flourishing drugs manufacturing market.

The plan which was first mooted in 2007 at the African National Congress (ANC) national conference was revived by the party after its executive meeting over the weekend.

Hong Kong orders recall of Glaxo antibiotic

2011-07-19T12:30:35Z

Hong Kong has ordered pharmaceutical giant GlaxoSmithKline to recall an antibiotic which contained chemical additives, and warned it may take legal action against the manufacturer.

The health department said tests revealed the British-based firm's Augmentin antibiotic tabl...

Drug giant Novartis reports profits rise

2011-07-19T07:30:20Z

Swiss pharmaceutical giant Novartis said on Tuesday its second-quarter net profit rose 12 percent to $2.72 billion (1.9 billion euros), lifted by strong demand for new drugs.

"Our recently launched products continue to transform our portfolio, our new products grew 46 percent and represent now 25 percent of our group sales in Q2 (second quarter)," Novartis chief executive officer Joseph Jimenez said.

Sales of ...

Hong Kong orders recall of GSK children's drug

2011-07-19T05:30:22Z

Hong Kong has ordered pharmaceutical giant GlaxoSmithKline to recall an antibiotic used to treat infections in children which contained chemical additives, and warned it may sue the drugmaker.

The health department on Monday said tests revealed the British firm's Augmentin...

Novartis expects to be able to fend off generics

2011-07-18T22:30:13Z

ZURICH (Reuters) - Novartis expects volume growth at its pharma unit to more than offset the impact of generic competition, the Swiss drugmaker said after posting a 27 percent rise in second-quarter sales.

The Basel-based group's core earnings per share jumped 23 percent to ...

NICE seen at heart of new UK drug pricing system

2011-07-15T09:01:43Z

LONDON (Reuters) - Britain's cost-effectiveness health watchdog NICE expects to play a central role in a value-based pricing system for new medicines due to take effect from 2014, according to its chief executive.

After a government rethink last month, the MOSCOW (Reuters) - Russian police searched the offices of four pharmaceutical companies in Moscow on Tuesday, including Swiss drug maker Novartis AG and Israel-based Teva, the business daily Ve...

Research cuts may haunt Pfizer, ex-R&D chief says

2011-07-05T12:01:02Z

NEW YORK (Reuters) - Pfizer Inc may have won over shareholders with its recent decision to pare back research and development spending but could be shortchanging them in the long run, according to its former research chief.

Pfizer, the world's largest drugmaker, said in February it would cut its planned researc...

Glaxo to pay $41 million to U.S. states over drug plant

2011-06-23T11:00:59Z

NEW YORK (Reuters) - GlaxoSmithKline Plc will pay nearly $41 million to 37 U.S. states and the District of Columbia to settle allegations related to faulty drug manufacturing processes at a former ...

Top court rejects generic drug labeling suits

2011-06-23T07:30:31Z

WASHINGTON (Reuters) - The Supreme Court ruled on Thursday that generic drug companies cannot be sued under state law over allegations that they failed to provide adequate label warnings about potential side effects.

The justices handed a victory to Israel's AstraZeneca on Wednesday said it had agreed to sell its Astra Tech unit to US dental implant manufacturer Dentsply International for $1.8 billion (1.25 billion euros).

The cash d...

Icahn aims at longtime Forest CEO in shake-up bid

2011-06-20T09:00:21Z

NEW YORK (Reuters) - Billionaire investor Carl Icahn is taking aim at Forest Laboratories Inc's longtime chief executive officer as he seeks to shake up the U.S. drugmaker's board.

In a

China orders recall of Glaxo drug

2011-06-18T11:30:11Z

China Saturday ordered British pharmaceutical giant GlaxoSmithKline to recall an antibiotic used to treat infections in children which was found to be tainted with a plasticiser.

Traces of diisodecyl phthalate (DIDP), which is used to make plastics more flexible, were found in Glaxo's amoxicillin and clavulanate potassium suspension, which is sold under the tradename

Analysis: Drugmakers set aside rivalries to lift products

2011-06-15T13:00:18Z

NEW YORK/LONDON (Reuters) - The rise of combination treatments and tailored therapies is giving drugmakers even more incentive to team up, beyond seeking ways to limit the risks and costs of drug development.

Roche, Bristol-Myers Squibb and Merck & Co are among the largest global companies that have r...

Novo Nordisk settles U.S. probe for $25 million

2011-06-12T08:32:39Z

NEW YORK (Reuters) - Danish drugmaker Novo Nordisk will pay $25 million to settle a lawsuit over the alleged improper marketing of its anti-clotting medicine NovoSeven.

The company said on Friday that it will pay the U.S. government $25 million to resolve a Department of Justice investigation into whether it improperly promoted bl...

Taiwan orders recall of Glaxo children's drug: report

2011-06-11T16:30:14Z

Taiwan has ordered pharmaceutical giant GlaxoSmithKline to recall an antibiotic used to treat infections in children for containing a chemical additive, a report said Saturday.

The Department of Health was prompted to order the recall of Augmentin antibiotic syrup produced follo...

Novo Nordisk pays $26.7 million to settle claims

2011-06-11T15:30:08Z

Danish drug company Novo Nordisk has agreed to pay $25 million to settle allegations that it promoted the misuse of blood clotting drug NovoSeven, the US Justice Department announced Friday.

Separately, the company will also pay a $1.7 million settlement over allegations that it encouraged fraudulent claims to be submitted to a government...

Hong Kong orders recall of Glaxo children's drug

2011-06-10T11:30:10Z

Hong Kong has ordered pharmaceutical giant GlaxoSmithKline to recall an antibiotic used to treat infections in children which contained a chemical additive twice recommended European safety limits.

A government spokesman said Friday that tests revealed the Augmentin antibi...

Pfizer will suspend U.S. sales of poultry drug

2011-06-08T14:00:20Z

WASHINGTON (Reuters) - Pfizer Inc has agreed to suspend U.S. sales of a popular poultry drug after a study found the drug increased levels of a carcinogen in chickens, U.S. health officials said on Wednesday.

A study from the Food and Drug Administra...

Drug firms go online to test and sell medicines

2011-06-08T05:00:12Z

LONDON (Reuters) - Prompted by the soaring cost of developing and marketing their medicines, drug companies are embracing the Internet in a bid to drive down costs.

The hope is that digital tools will not only make them more efficient, but also smarter and nimbler.

Pfizer, the world's biggest drugmaker, is pushing the e...

AstraZeneca pulls plug on free trips for doctors

2011-05-27T08:00:16Z

LONDON (Reuters) - In an industry first, drugmaker AstraZeneca is scrapping payments for doctors to attend international medical congresses.

The move follows increased scrutiny of the $850 billion-a-year industry's potentially undue influence on prescribers and could put pressure on rivals to follow suit.

AstraZeneca

Takeda to buy Swiss drugmaker Nycomed for $13.7 billion

2011-05-19T06:00:30Z

TOKYO/LONDON (Reuters) - Japan's largest drugmaker Takeda Pharmaceutical is buying privately held Japan's Takeda Pharmaceutical said Thursday it reached a 9.6 billion euro ($13.6 billion) deal to buy Swiss drugmaker Nycomed in what would be one of the biggest overseas acquisitions by a Japanese firm.

Takeda said it will finance part of the tr...

Japan's Takeda to buy drugmaker Nycomed for $12 bn

2011-05-12T06:30:35Z

Japan's top drugmaker Takeda Pharmaceutical has reached a $12 billion deal to buy Swiss drugmaker Nycomed, a report said Thursday.

Takeda has struck a basic agreement and is expected to make a formal announcement soon, the TOKYO (Reuters) - Japan's largest drugmaker Takeda Pharmaceutical Co is in talks to buy privately-held Swiss rival Ranbaxy Laboratories said Tuesday its first-quarter net profit tumbled by 68 percent to $67 million, but was still above forecasts.

Net profit for the generic and branded drugmaker, controlled by Japan's Daiichi Sankyo, fel...

Biogen CEO shakes up culture as stock price soars

2011-05-10T09:00:14Z

WESTON, Massachusetts (Reuters) - George Scangos, the chief executive of Biogen Idec Inc , is uncomfortable in the well-appointed office he inherited when he took the top job last July.

Though his office is spacious -- i...

India's Ranbaxy shares fall on US penalty threat

2011-05-05T06:30:33Z

Shares in India's largest drugmaker Ranbaxy Laboratories fell by nearly nine percent on Thursday on reports it may have to pay over $1 billion to resolve ongoing regulatory issues in the United States.

Ranbaxy, a unit of Japan's

Novartis dice estudio muestra Lucentis es más seguro que Avastin

2011-05-04T13:30:24Z

ZURICH (Reuters) - El laboratorio suizo Novartis AG dijo el miércoles que un nuevo estudio muestra que su fármaco oftálmico Lucentis es más seguro que el medicamento oncológico Avastin para el tratamiento de la degeneració...

Israel's Teva to buy Japan's Taiyo: report

2011-05-03T01:30:15Z

Israel's Teva Pharmaceutical Industries has decided to buy Japan's third-largest generic drug company Taiyo Pharmaceutical Industry for about $500 million, the Nikkei newspaper said Tuesday.

Teva, the world's top generic drug maker, will likely...

Pfizer investors on alert for more shrinkage clues

2011-05-02T21:30:10Z

NEW YORK (Reuters) - Pfizer Inc is expected to report slightly lower quarterly earnings on Tuesday, but investors will be more focused on any signs the world's biggest drugmaker will further shrink itself to weather looming competition from generic drugs for its Lipitor...

Teva to acquire Cephalon, topping Valeant

2011-05-02T04:30:26Z

NEW YORK (Reuters) - Teva Pharmaceutical Industries Ltd plans to acquire specialty drugmaker Cephalon for $81.50 a share, topping an unsolicited bid by

EU opens anti-trust probe into stay-awake drug deal

2011-04-28T13:30:30Z

European antitrust authorities announced on Thursday the opening of a formal antitrust probe into US drugs company Cephalon and Israel-based generic drugs firm Teva over stay-awake drug Modafinil.

The controversial anti-tiredness drug, marketed under the brand-name GlaxoSmithKline said on Wednesday that net profit rose 14 percent to £1.525 billion (1.72 billion euros, $2.5 billion) in the first quarter, despite a slump in product sales.

Savings from a major cost-cutting programme and asset disposals helped to offset a 10-percent drop in sales to £6.585 billion in the three months to March 31, compared with the first quarter of 2010, GSK said in a...

U.S. top court questions state drug data limits

2011-04-26T11:30:16Z

WASHINGTON (Reuters) - U.S. Supreme Court justices sharply questioned on Tuesday whether a state may prohibit the use of prescription drug records for marketing, expressing concerns that it violated free-speech rights.

Chie...

Lost flu sales weigh on Roche and other pharmas in Q1

2011-04-11T08:00:14Z

LONDON (Reuters) - Roche is set to kick off the Big Pharma reporting season with a fall in sales on Thursday as a strong Swiss franc, weak demand for top-selling cancer drug Avastin and lack of Tamiflu revenue take th...

Merck, Sun Pharma eye India marketing tie-up: report

2011-04-10T21:00:10Z

BANGALORE (Reuters) - U.S. drugmaker Merck & Co is close to striking a marketing alliance with Sun Pharmaceutical Industries Ltd for the Indian market, the Mint reported on Monday.

The partnership between Sun and <...

J&J settles bribery, kickback allegations: SEC

2011-04-08T09:30:13Z

WASHINGTON (Reuters) - Johnson & Johnson <JNJ.N> has agreed to pay $70 million to settle U.S. charges that it paid bribes and kickbacks to win business overseas, the first major pharmaceutical company to settle since the Obama administration bega...

Pfizer selling Capsugel to KKR for $2.38 billion

2011-04-04T06:30:18Z

NEW YORK (Reuters) - Pfizer Inc said it struck a deal to sell its Capsugel unit, the world's largest maker of hard capsules, to private equity firm KKR & Co for nearly $2.38 billion.

Pfizer, which said in October it was exploring the sale of Capsugel, said it expects to make additional share repurchases this year as a ...

Special report: When the drugs don't work

2011-03-31T02:30:33Z

LONDON (Reuters) - David Livermore is in a race against evolution. In his north London lab, he holds up an evil-smelling culture plate smeared with bacteria. This creamy-yellow growth is the enemy: a new strain of germs resistant to the most powerful antibiotics yet devised by humankind.

Out on t...

U.S. jury rejects Glaxo antitrust claims vs Abbott

2011-03-30T15:30:15Z

OAKLAND, California (Reuters) - A U.S. jury rejected GlaxoSmithKline's antitrust claims against Reuters) - Canadian drugmaker Valeant Pharmaceuticals International said it made an unsolicited $5.7 billion bid to buy Cephalon Inc and plans to make its case directly to Cephalon shareho...

AstraZeneca settles US tax dispute, raises earnings

2011-03-28T10:30:20Z

Anglo-Swedish pharmaceuticals giant AstraZeneca said Monday it had settled a tax dispute with US authorities by agreeing on a net payment of $1.1 billion (783 million euros).

AstraZeneca additionally raised its 2011 earnings target after also securing a lower tax rate and being able to free up some of the $2.3 billion it had set aside as tax provisions, it sai...

Sanofi, Merck abandon animal health joint venture

2011-03-22T05:30:16Z

PARIS/LONDON (Reuters) - Regulatory pressure prompted Sanofi-Aventis and Merck & Co to abandon plans for a joint animal health powerhouse with $5 billion in sales.

The move sets back the French and U.S. drugmakers' plans to achieve economies of scale in the consolidating animal care industry, and comes a month after they d...

Eli Lilly "very much opposed" to merger: CEO

2011-03-18T22:30:06Z

BEIJING (Reuters) - Drugmaker Eli Lilly , which faces plunging sales due to competition and lapsing patents, will not merge with another peer to ride out any rough times ahead, chief executive John Lechleitr said on Saturday.

Speaking on the sidelines of...

Supreme Court won't review drug patent deal

2011-03-07T08:00:08Z

WASHINGTON (Reuters) - The Supreme Court let stand a ruling that drug companies can pay rivals to delay production of generic drugs without violating federal antitrust laws.

The justices refused to review a federal appeals court ruling that upheld the dismissal of a legal challenge to a deal between Bayer AG and Farnsworth Art Museum show the 1969 painting "Portrait of Andrew Wyeth," by his son Jamie Wyeth. The oil painting has sold for $2.4 million at an auction to benefit the Farnsworth Art Museum in Rockland, Maine. It was a record amount for a Jamie ...

Pfizer CEO Resigns

2010-12-05T19:01:36Z

FILE - In this Jan. 26, 2009 file photo, Jeffrey Kindler, chairman and CEO of Pfizer, speaks at a news conference in New York. Kindler, the head of the world's biggest drugmaker, Pfizer Inc., has stepped down unexpectedly after less than five years at the helm. (AP Photo/Mark Lennihan, File)

Eli Lilly Acquisition

2010-11-08T08:31:01Z

FILE - In this Jan. 25, 2006 file photo, the Eli Lilly and Company headquarters in pictured in Indianapolis. Drugmaker Eli Lilly said Monday, Nov. 8, 2010, it will buy Avid Radiopharmaceuticals in a deal that could be worth up to $800 million. (AP Photo/Darron Cummings, File)<...

Earns Pfizer

2010-11-02T12:31:43Z

FILE - In this Jan. 25, 2009 file photo, a sign at Pfizer world headquarters in New York is shown. Pharmaceutical giant Pfizer Inc. said Tuesday, Nov. 2, 2010, revenue in the third quarter jumped 39 percent due to its acquisition of fellow drugmaker Wyeth, but hefty charges dragged its profit down 70 percent. (AP Photo/Mark Lennihan, file)

Pfizer King Pharmaceuticals

2010-10-12T06:02:45Z

FILE - In this Jan. 25, 2009 file photo, Pfizer's world headquarters is shown in New York. Pfizer Inc., the world's largest pharmaceutical company by revenue, said Tuesday, Oct. 12, 2010, it will buy pain drug maker King Pharmaceuticals Inc. for $3.6 billion in cash. (AP Photo/Mark Lennihan, File)

News on Pharmaceuticals Sector

Actavis prepares for end of generic drugs model

Merck CEO defends hefty research spending

AstraZeneca slashes 1,150 U.S. sales jobs

AstraZeneca to cut 1,150 U.S. sales jobs

AstraZeneca to cut 1,150 sales jobs in U.S.