When a drug is recalled because there’s something in it that shouldn’t be, it’s scary but often traceable: Foreign objects such as shards of metal or microorganisms might infiltrate medications through dirty factories or lax manufacturing practices. But recently a more insidious—and difficult to eradicate—form of contamination has surfaced among makers of some of the world’s best-selling pharmaceuticals. They’re called nitrosamines. read more
Pfizer Inc.’s PFE, -0.25% $5.4 billion acquisition of Global Blood Therapeutics Inc. GBT, 0.24% is the latest sign that cash-flush drug makers are ready to jump back into dealmaking.
That deal was announced just days after Amgen Inc. AMGN, 0.86% said it plans to buy ChemoCentryx Inc. CCXI, 0.22% for $3.7 billion in cash and amid media reports that Merck & Co. Inc. MRK, -0.89% is making plans to buy Seagen Inc. SGEN, -0.32% for about $40 billion.
“We see strong underlying reasons to expect a big increase in deal activity. Whether or not prospective big deals like Merck’s rumored acquisition of Seagen close, we have already seen certain Big Pharma players returning to M&A in the second quarter of 2022,” Subin Baral, EY’s global life sciences deals leader, said in an email. “We anticipate that this trend will continue.” read more
Teva Pharmaceutical Industries Ltd. said it had agreed to pay more than $4 billion to resolve thousands of lawsuits filed against the drugmaker by state and local governments over its highly addictive opioid painkillers.
The Israeli drugmaker said Tuesday it reached a tentative deal to pay $3 billion in cash and $1.2 billion in donated overdose-fighting drug Narcan to resolve the claims. Native American tribes would also receive $100 million. The company said the total included $650 million it had committed in previous settlements. The deal would be paid out over 13 years, if finalized. read more
Washington (AFP) – In a first, a pharmaceutical company applied Monday for US approval to make its birth control pill available over-the-counter, weeks after the US Supreme Court overturned a federal right to abortion care.
HRA Pharma, a subsidiary of Perrigo, said in a statement it was seeking the switch away from prescription-only for its product Opill, a progestin-only daily birth control pill — also referred to as a mini pill or non-estrogen pill.
Over-the-counter (OTC) birth control has long been backed by major medical organizations as a way to reduce barriers to contraception access.
The timing of the application — which comes amid a wave of state-level restrictions and bans on abortion following the top court’s ruling — was “coincidental,” according to an HRA spokeswoman, who said the company had been compiling research for its application for the past seven years. read more
For too long big pharmaceutical corporations have held patients to ransom by charging extortionate prices for life-saving medicines. And at least one former Conservative minister should applaud Jeremy Corbyn’s conference announcement yesterday, aimed at constraining this powerful sector.
Former commercial secretary to the Treasury, and one-time Goldman Sachs economist, Jim O’Neill, is not your traditional radical, but earlier this year he compared the socially destructive practices of big pharma to the way the banks gambled with our livelihoods in the financial crisis. He warned that nationalised industry might be the only way to solve the coming catastrophe of antibiotic resistance. read more
As a monkeypox outbreak quietly gains steam in the U.S. and elsewhere, American health officials are laying out a plan to stop it. One major component is vaccinations.
Tuesday, officials with the Centers for Disease Control and Prevention (CDC) revealed a plan to make available 1.6 million doses of Bavarian Nordic’s smallpox and monkeypox vaccine Jynneos by the end of the year, according to press reports. Of that total, officials will immediately make available 56,000 doses in areas of high transmission.
They’ll follow that release with another 240,000 doses in the coming weeks, then with another 750,000 doses over the rest of the summer, USA Today reports. The officials plan to release another 500,000 doses in the fall, taking the total supply to around 1.6 million doses. read more
While revenue reflects how well a pharma company’s products and services are selling, profit is an important metric that gives investors a look at the health of the business and how efficiently it has been managed.
Here, we rank the top 10 pharma companies by 2021 net income, also known as net earnings or the bottom line.
The six largest drugmakers by 2021 revenue—Johnson & Johnson, Pfizer, Roche, AbbVie, Novartis and Merck & Co.—all made the top profits list but in quite a different order. read more
In its back-and-forth battle with Merck for supremacy of the next-gen pneumococcal vaccine market, Pfizer is looking for any edge it can get. Monday’s news that the drugmaker has begun testing its COVID-19 vaccine and 20-valent pneumococcal vaccine candidate together could provide exactly that advantage.
Pharmaceutical stocks often need just a single blockbuster drug to make their fortunes.
Though the definition varies, blockbuster drugs are those that generate annual sales of $1 billion or more. The biggest blockbuster drugs can even exceed $100 billion in lifetime sales.
All of the companies on this list have drugs in their pipelines which could eclipse the billion dollar revenue milestone.
A blockbuster drug may be enough to send a smaller company’s stock price skyrocketing. Yet, in a larger pharmaceutical firm, a succession of blockbuster drugs is necessary simply to keep prices stable. Investors should keep that in mind before buying into any of the equities on this list.
As the impeachment trial for former President Trump plays out, the pharmaceutical industry can thank itself for playing a role — albeit, a small one — in this unseemly national spectacle.
Why do I say that? Let’s connect some dots.
During the previous two election cycles, the industry donated more than $2.4 million to the Republican Attorneys General Association, which made campaign contributions to the Texas attorney general who filed a lawsuit challenging results from the presidential election in several states. The association also funded attorneys general from 11 other states who supported the effort.
- A New Contaminant Found in Popular Drugs Could Cost Big Pharma Millions September 1, 2022
- Stem Cell Transplant in MS: Patients Support, but Neurologists Hesitant September 1, 2022
- Thousands of Pa. nursing home workers may strike despite $600M for care in state budget September 1, 2022
- Students wait months for mental health help. ‘We’re bombarded,’ counselor says September 1, 2022
- Tea drinkers enjoy possible health benefits, study suggests September 1, 2022