Pharma readings

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Novartis to Pay as Much as $1 Billion for Skin Drug Rights

Novartis AG agreed to buy the rights to a skin-disease drug from developers Galapagos NV and MorphoSys AG in a deal that could reach $1 billion as …

Galapagos

Novartis shelves US price increases | Financial Times

Swiss drugmaker Novartis has announced that it will shelve price increases for medicines in the US after criticism of the sector from President …

Novartis

Novartis CEO Says It's `Prudent' to Pull Back From Further Price Increases – Bloomberg

Novartis CEO Says It's `Prudent' to Pull Back From Further Price Increases<p>Novartis CEO Says It's `Prudent' to Pull Back From Further Price …

Health Care

J&J beats quarterly expectations on drug sales surge, shares jump

(Reuters) - Johnson & Johnson on Tuesday reported better-than-expected second quarter profit as sales of pharmaceuticals surged 20 percent despite a sharp decline in blockbuster arthritis drug Remicade, and its shares rose more than 4 percent.<p>The healthcare conglomerate also expressed confidence …

Johnson & Johnson

Novartis Blockbuster Drug Rebounds, Easing Generics Pressure

Novartis AG saw sales of one of its key drugs rebound last quarter, helping counter the impact of cheaper copycats on older products.<p>Cosentyx’s sales …

Novartis

Johnson & Johnson CEO defends drug prices, calls for changes in how medical costs are covered

Johnson & Johnson CEO Alex Gorsky called for changes in the way prescription drugs are paid for but stopped short of saying pharmaceutical companies …

Health Care

Bill Gates Announces Further Investment In Alzheimer's Research, Taking On Disease Detection

Microsoft cofounder Bill Gates revealed more of his plan to invest in Alzheimer’s disease research on Tuesday.<p>He along with fellow billionaire Leonard Lauder, the Dolby family, the Charles and Helen Schwab Foundation and other donors are committing more than $30 million over the next three years to …

Bill Gates

Big Pharma’s Metabolism Is Slowing Down

The biggest players in pharma and biotech firms are in a rut, and even a heroic earnings season might not be enough to lift it out.<p>The broader environment is positive: The Trump administration’s drug-pricing push is for now more sound than fury, the economy is humming, and new treatments are being …

Blockbusters

Drugmakers will think twice on price increases after Trump's Pfizer skirmish, says analyst

Elliot Wilbur, Raymond James specialty pharmaceuticals analyst, discusses the rising cost of prescription drugs and how President Trump is tackling …

Donald Trump

Novartis Exits Antibiotics Research, Cuts 140 Jobs in Bay Area

Novartis AG will shut down its antibacterial and antiviral research operations in the San Francisco Bay area and cut about 140 jobs, joining other …

San Francisco Bay Area

Pfizer delays drug price hikes after talking with Trump

WASHINGTON/NEW YORK (Reuters) - Pfizer Inc (PFE.N) said on Tuesday it was deferring drug price increases for no more than six months after the company's chief executive officer had an extensive conversation with U.S. President Donald Trump.<p>The rollback came a day after Trump took aim at Pfizer and …

Donald Trump

China vows to accelerate cancer drug price cuts | Financial Times

China has vowed to speed up cuts to the cost of cancer drugs in a move that threatens to dent revenues in the country for multinationals such as Eli …

Eli Lilly

The dementia dilemma

The failure of several Alzheimer’s drug trials in the past year has dampened, but not destroyed, hopes for a cure<p>To the patients desperately waiting …

Dementia

Theranos? Whatever. Healthcare Startups Have Raised $15 Billion So Far This Year

<i>This story was written by Matthew Herper and Michela Tindera.</i><p>The indictment of Theranos founder Elizabeth Holmes, and the barrage of shocking details about her company unearthed by John Carreyrou in his best-selling chronicle of the Theranos saga, <i>Bad Blood</i>, could give nightmares to people who …

Venture Capital

Hitting cancer early: AstraZeneca's bid to outmaneuver rivals

LONDON (Reuters) - AstraZeneca (AZN.L) suffered its biggest daily share price drop a year ago after a key cancer drug trial failed amid feverish speculation the chief executive might quit.<p>Yet today two-thirds of analysts tracked by Thomson Reuters recommend the stock, making it one of the sector's …

Cancer

Biogen And Eisai Say Alzheimer's Drug A Success, Reversing Earlier Result

A complicated new clinical trial could give some hope to Alzheimer’s patients and investors in drug companies. But there are lots of devilish details.<p>Drugmakers Biogen and Eisai said the top dose of an experimental Alzheimer’s drug slowed deadly brain-destroying disease over the course of 18 months …

Dementia

A Risky Drug Approval Lesson

What the FDA can learn from progress against muscular dystrophy.<p>Some welcome news arrived recently for boys with a condition called Duchenne muscular dystrophy. A new therapy is showing promising results, and it raises a question for the Food and Drug Administration: What if society had missed this …

FDA

Amazon could start selling discounted meds to cash payers as soon as the PillPack deal closes

Now that Amazon has snapped up internet pharmacy PillPack for around $1 billion in cash, how long will it take before consumers can rely on the …

Pharma

Sanofi beefs up diabetes pipeline to retrieve success

PARIS (Reuters) - Sanofi sees a more diversified pipeline driving a return to growth at its diabetes unit in the coming years and will consider acquisitions and partnerships to help boost performance, a company executive said on Tuesday.<p>The French drugmaker's diabetes revenues have fallen since …

Diabetes

PillPack Aside, Amazon's Far From Catching CVS And Walgreens

Despite investor enthusiasm for Amazon’s purchase of the online pharmacy PillPack, the giant online retailer needs to do more deals to catch CVS Health, Walgreens Boots Alliance and Walmart if it’s to compete in the U.S. prescription business.<p>Most Americans get healthcare coverage through health …

Pharma

Sanofi’s rare blood disorder drug Cablivi set for European approval

Rare disease drug among notable CHMP recommendations

Pharma

AstraZeneca wins speedy approvals for cancer drugs in Japan

LONDON (Reuters) - AstraZeneca has won rapid regulatory approval for new uses of two of its important cancer drugs in Japan, less than six months after the first global approvals in Western markets.<p>The decisions by the Japanese Ministry of Health, Labour and Welfare reflect an increased urgency by …

Cancer

Lundbeck looks to boost drug range with new CEO | Reuters

COPENHAGEN, July 2 (Reuters) - Danish pharmaceutical company Lundbeck has picked Deborah Dunsire as its new chief executive after former CEO Kaare Schultz was poached by Teva last year.<p>Dunsire will take the helm at a time where Lundbeck is looking to make up for declining sales of older drugs whose …

Environmentalism

U.K. Doctors Can Get Paid by Big Pharma and Keep Out of Sight

Half of the British doctors who received consulting fees, travel expenses and other payments from the pharmaceutical industry last year remain …

Evidence-Based Medicine

Chinese investment into US biotech start-ups soars | Financial Times

Chinese venture capital investment into US biotech companies in the first half of the year has already surpassed the record set for the whole of …

China

US drugmaker Pfizer lifts price of Viagra and 100 other products | Financial Times

Pfizer has raised the prices of 100 products just weeks after US President Donald Trump claimed the pharmaceuticals industry was about to implement …

Multiple Sclerosis

Roche 'highly encouraged' by Tecentriq results in breast cancer

ZURICH (Reuters) - Swiss drugmaker Roche said on Monday that a trial showed its immunotherapy Tecentriq plus the chemotherapy Abraxane significantly reduced the risk of disease worsening or death in people with metastatic triple negative breast cancer.<p>The company, citing its IMpassion130 study, …

Cancer

Novartis chairman says Alcon worth $20 billion-$30 billion: Finanz und Wirtschaft

ZURICH (Reuters) - The chairman of Swiss drugmaker Novartis (NOVN.S) expects Alcon to be valued at between $20 billion and $30 billion when the opthalmic devices unit is spun off to shareholders next year, he said in an interview with Finanz und Wirtschaft.<p>"Just how much it's ultimately going to be …

Novartis

The Biopharmaceutical Industry Provides 75% Of The FDA's Drug Review Budget. Is This A Problem?

Caroline Chen of <i>ProPublica</i> has written a provocative article challenging the objectivity of the FDA in its approval of new drugs. Entitled: “FDA Repays Industry by Rushing Risky Drugs to Market”, Chen contends that the agency is beholden to the biopharmaceutical industry which pays three quarters …

CEOs