Ending months of uncertainty, the Sanofi-Aventis deal with Genzyme finally came to an end since Sanofit was able to buy out Genzyme for $74 per share. This means that a total of $20.1 billion is going to be given as contingent value right and will bring to a halt the nine months of chase of the US biotech firm by French drugs' giant.
It is going to help Sanofi in controlling the falling revenues that are a result of several of its patents expiring and the cost that it has to bear for reshaping its business.
With the US maker Pfizer announcing the shutdown of its research and development site at Sandwich in Kent, the decision came as a blow this week as around 2,400 jobs are at risk.
The site, which has had remarkable success stories, was Pfizer's congregation for more than half a century. The site saw hits like the development of Viagra, the company's successful impotence drug, the Norvasc heart drug, and Celsentri, for HIV/Aids treatment.
GlaxoSmithKline (GSK) Limited is expected to resume its share buyback programme on Thursday despite loss due to a massive legal charge in the fourth quarter. The investors who had urged GSK to adopt ‘giving cash back’ decision of other major drug companies would greatly welcome this move.
According to Thomson Reuters estimation the giant British drugmaker is believed to reveal its forecast to record a loss of around 6 pence a share in its 2010 results.
The pharmaceutical group, renowned for its varisolve varicose veins treatment, BTG is going to add oncology products in its profile by capturing drug device group Biocompatibles, paying £160m.
The company will be paying premium of 28 pc on yesterday's Biocompatibles' share price thus taking the per share price to 430p and giving four-fold increase to the private investors having 10 percent shares in the company.
Novo Nordisk has announced plans to drop Mixtard 30, an insulin drug, in order “to focus resources on developing the next generation of insulins”.
Mixtard 30 closely resembles insulin made naturally by the body, and is therefore known as human insulin. The new generation, called insulin analogues, have a different chemical make-up.
Dr. Anders Toft, Novo Nordisk’s UK Medical Director, says that Mixtard 30’s use is in decline. “There are several other preparations available which patients can switch to.”
There are several procurements to be made by Hikma Pharmaceuticals as it still is said to have some $500m war chest to spend. It is said to have bought Baxter International's US drugs unit recently.
“You should see the big smile on my face. Our global injectables business has doubled in size overnight. We will see $180m worth of sales a year and our sales team will grow from eight to 28 people”, said Darwazah, Hikma's Chief Executive.
Pfizer is reported to have widened the voluntary recall of its blockbuster cholesterol-fighting drug again. As per the company’s statement, an additional 38,000 bottles of the drug Lipitor have been recalled.
The decision emerged following reports that linked a "moldy or musty" odor with the packaging bottles, the Company highlighted. Pfizer had earlier given a recall for over 190,000 bottles of Lipitor because of similar kind of complaints.
On Friday, ceftaroline fosamil (Teflaro), manufactured by Forest Laboratories Inc. has been shown green signal by the Food and Drug Administration to provide treatment to adults suffering from community-acquired bacterial pneumonia (CABP) and other skin related infections such as acute bacterial skin and skin structure infections (ABSSSI) and methicillin-resistant Staphylococcus aureus (MRSA).
The development taking place everyday has made the international dieting Company, p change its fat and calorie-based points plan. They are now said to have adopted the new system since the old plan has come out to be inaccurate and outdated.
As per this new system, the main focus is being laid on the amounts and types of protein, carbohydrate, fibre and fat in food. According to speculation, it also permits alcohol and the odd fast food binge.
German pharmacy Company Grunenthal GmbH is now sued by the Victorian Supreme Court for distributing the drug thalidomide to pregnant Australian women whose children developed inabilities after being born.
A number of plaintiffs who represent the victims of the harming substance want the firm to take responsibilities for severe violations more than 50 years ago.
After the pharmaceutical Company GlaxoSmithKline PLC needed to reassess one of their manufacturing plants in Puerto Rico, they sent one of the Company’s quality assurance managers Cheryl Eckard. The former employee of the Company exposed severe abuses such as the production of a skin product for children that was poisonous.
Furthermore, Ms. Eckard observed that drugs often were mixed up in the same bottles in Puerto Rico, a dangerous mistake that has not been corrected.
Pharmaceutical Companies are closer to marketing alternative means of birth control. A new contraceptive gel, developed by the Population council Research Centre in conjunction with Antares Pharma, will prevent pregnancy. By applying 3mg every day—to the arms, shoulders, abdomen or legs—women get the same protection as the pull, and with fewer side effects to boot.
Novartis AG, a Swiss pharmaceutical company, has released data from a study indicating that the Menveo meningitis vaccine is effective in infants. Bacterial meningitis is a contagious illness that causes an infection of the membrane around the brain and spine. Approximately 50,000 deaths a year result from meningitis. Survivors can experience side effects such as brain damage and learning disabilities.