PHARMACEUTICAL: Pay-for-delay pandemonium?

So-called pay-for-delay deals are rapidly gaining popularity according to data from the US Federal Trade Commission (FTC), a government agency concerned with anti-competitive practices.

Specifically, the number of such deals struck in 2010 shot up 60 per cent to 31, up from 19 in 2009. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Willetts discusses Pfizer and Sandwich

What does UK science minister David Willetts have to say about Pfizer’s decision to close its R&D site at Sandwich in the UK, a decision that has put 2400 jobs under threat? He’s been giving evidence to the House of Commons Science and Technology Committee, which has launched an inquiry. A session that took place earlier this week involved representatives from Pfizer and the RSC. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

 

MedImmune interest in Amgen biologic

MedImmune – the biologics unit at pharma major AstraZeneca – has gained rights to a monoclonal antibody from US biotech Amgen. AMG 108 is a fully human monoclonal antibody in Phase I and II clinical trials for the treatment of inflammatory diseases. The companies have not disclosed financial details. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Bayer and Evogene to work together on GM wheat

German chemical group Bayer has said it will pay $20 million (£13 million) as part of a five-year deal with Israeli plant sciences company Evogene that will see the two develop new genetically modified wheat varieties. In a separate deal, Bayer will buy a $12 million stake in Evogene at a price of $7 per share. The aim of the project will be to improve key characteristics such as yield, drought tolerance and fertiliser utilisation. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

BASF buys Cognis

German chemical company BASF has completed its €3.1 billion (£2.6 billion) purchase of speciality chemical company Cognis, which it agreed to in June. Cognis makes chemicals for industries covering: health and nutrition; cosmetics; mining; agriculture; and detergents and cleaners. It also makes lubricants and coatings. The company employs 5500 people, and in 2009 it made sales of €2.6 billion. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Ashland and Süd-Chemie joint venture

German speciality chemical company Süd-Chemie and US speciality company Ashland have combined their activities in the area of chemicals for the foundry industry. Each company holds a 50 per cent stake in the joint venture, ASK Chemicals, which is based in Hilden, Germany and employs 1300 staff. A wide range of chemicals, such as additives, catalysts and coatings, are used in foundries, which produce metal castings using moulds.  

New Lanxess plant in India

German specialty chemicals company Lanxess has opened a new plant for ion exchange resins in India. Lanxess is best known as a manufacturer of synthetic rubber for tyres. The plant is located in Jhagadia in Gujarat and has an annual capacity of 35,000 metric tons. Lanxess says it has invested about €50 million (£43 million) in the site, which already has a rubber chemicals production plant that the company took over in March. Ion exchange resins are used for water treatment in power generation, microelectronics production and the industries for drinking water and food preparation.  (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

We’ve had a look at some of the financial results for the third quarter of 2010 already. Here’s the rest of the data. (All percentage changes are based on the same period last year.)

PHARMACEUTICAL

AstraZeneca made sales of $7.9 billion (£5 billion), a 4 per cent decrease. Operating income decreased 25 per cent to $2.4 billion.

Bayer made sales of €8.6 billion (£7.3 billion), a 16 per cent increase. Operating income decreased 14 per cent to €560 million. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

PHARMACEUTICAL 

Pfizer to divest Capsugel?

Pfizer has said it is ‘reviewing strategic alternatives’ for drug delivery unit Capsugel and raised the possibility of divestiture. In 2009, the unit generated sales of $740 million (£460 million). Pfizer expects to give the results of its review process by the end of the first quarter of 2011.

US approval for Kombiglyze XR

The US Food and Drug Administration (FDA) has granted market approval to the combination diabetes candidate Kombiglyze XR (saxagliptin-metformin). The candidate, developed by AstraZeneca and Bristol-Myers Squibb, is a combination of the dipeptidyl peptidase-4 (DPP-4) inhibitor saxagliptin, marketed by Bristol-Myers Squibb as Onglyza, and metformin, a commonly used glucose lowering drug. Onglyza was approved in the US for type 2 diabetes in July 2009. It made sales of $85 million in the first nine months of this year. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)



PHARMACEUTICAL

GSK settles $750 million whistleblower suit

GlaxoSmithKline (GSK) has agreed to pay $750 million (£471 million) to settle the criminal and civil charges relating to the manufacture of adulterated drugs at the company’s now closed plant at Cidra, Puerto Rico. Under the provisions of the US False Claims Act, the whistleblowing former staff member who initiated the suit will receive approximately $96 million.

The case involves drugs manufactured by GSK’s Puerto Rican subsidiary, SB Pharmaco, between 2001 and 2005. SB Pharmaco has pleaded guilty to releasing adulterated forms of its antiemetic Kytril (granisetron); the antibiotic Bactroban (mupirocin), the antidepressant Paxil (paroxetine); and its diabetes drug Avandamet (rosiglitazone with metformin), for which the company will pay a criminal fine of $150 million. GSK will pay an additional $600 million to the federal and state governments to resolve allegations that it caused false claims to be submitted to Medicaid and other federal healthcare programs for the adulterated drugs. (more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

PHARMACEUTICAL

Lorcaserin refused entry

The US decision on obesity candidate Lorqess (lorcaserin), developed by Arena, has been made – and it’s a thumbs down. According to the company, the Food and Drug Administration (FDA) said in its ‘complete response’ letter that ‘it cannot approve the application in its present form’.

The decision won’t be a surprise for most people. In September, the drug received a negative opinion from the FDA advisory committee. But it’s led to much speculation about how quickly Arena might be able to turn things around. The main issues flagged by the FDA seem to relate to tumours in animal studies and the overall efficacy of the drug – its capacity to reduce weight – which is described as ‘marginal’. 

(more…)

Digg This
Reddit This
Stumble Now!
Share on Facebook
Bookmark this on Delicious
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)