GlaxoSmithKline Plc said that it will pay $3 billion to settle several criminal and civil cases brought against it by the US government, several states and the District of Columbia relating to past sales and marketing practices, including sales of Avandia.
The steep rise in pharmaceutical prices over recent decades has finally come to a halt and prices are now showing signs of declining at an accelerating pace. As a result, Big Pharma is asking European policy makers to do something about it.
Bristol-Myers Squibb Company and AstraZeneca Plc are set to strengthen their diabetes franchise through a staged deal in which BMS will acquire Amylin Pharmaceuticals Inc and thereafter exploit Amylin’s portfolio with AstraZeneca
GlaxoSmithKline Plc has again extended its $13 per share cash offer for Human Genome Sciences Inc- this time to a date after management will have completed a review of other strategic options. GSK’s offer to shareholders is now set to expire on 20 July.
Oxford BioMedica Plc has announced plans to raise up to £16 million in a combined private share placement and open offer. The proceeds will be used to continue development of its gene therapy technology, particularly in the area of ophthalmology.
The erosion of pharmaceutical prices in Europe has accelerated with the debt crisis and prices now look set to decline by 5% or more, according to Andrew Witty, president of the European pharmaceutical industry federation, EFPIA, and chief executive of GlaxoSmithKline Plc.
The Roche group has announced plans to close its Nutley, New Jersey, US research site with the anticipated loss of 1,000 jobs and the relocation of the activities to Switzerland and Germany. The reorganisation is expected to keep group R&D costs stable.
Ablynx NV said that fresh data from a trial of its anti-tumour necrosis factor-alpha antibody for rheumatoid arthritis, ozoralizumab (ATN-103), has shown some promising results, at least one of which was unexpected.
An antibiotic from AstraZeneca Plc is one of four new medicines to be recommended for marketing in Europe by the EMA’s Committee for Medicinal Products for Human Use. The drug, Zinforo, is a cephalosporin antibiotic.
In an unusual public rebuke, the European Medicines Agency has cited Roche for deficiencies in its medicine-safety reporting system. It has given the company until 27 June to submit a comprehensive plan for dealing with outstanding cases.