NEWS

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U.S. drugmaker AbbVie Inc's revenue beat analysts' estimates for the fourth straight quarter as sales of arthritis drug Humira jumped nearly 11 percent. The company, however, reported a net loss of $810 million (537.47 million pounds), or 51 cents per share, for the fourth quarter, mainly due to a charge…

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Targeted Medical Pharma, Inc. (TRGM), announced several major changes that streamline operations and signify a commitment to revenue growth, cost containment and profitability. The Company has appointed Kim Giffoni, a co-founder and former Vice President of Foreign Sales at Targeted Medical Pharma, as the Chief Executive Officer. Dr. David Silver,…

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Drug manufacturer Dr Reddy's Laboratories is looking at shifting some of its key active pharmaceutical ingredients (APIs) from its Srikakulam facility to an alternative facility to avoid any adverse impact in the future, analysts said. The Hyderabad-based company has received a Form 483 from the US Food and Drug Administration…

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GlaxoSmithKline plc has received clearance from the European Commission of its proposed three-part transaction with Novartis which includes the acquisition of Novartis’s vaccines business (excluding influenza vaccines), the creation of a consumer healthcare joint venture between GSK and Novartis and the divestment to Novartis of GSK’s marketed Oncology portfolio, related…

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Salix Pharmaceuticals Ltd said it would restate financial statements for all of 2013 and the first three quarters of 2014, adding to the drugmaker's list of woes. The restatement, which corrects errors related to the timing of revenue recognition, revenue-reducing returns, discounts and expenses, will cumulatively reduce reported net product…

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Drugmaker Mylan Laboratories Ltd today said it has expanded its hepatitis C licensing agreement with Gilead Sciences, a US-based biopharma company. The arrangement includes the non-exclusive rights to manufacture and distribute investigational NS5A inhibitor GS- 5816 and single tablet regimen of sofosbuvir in 91 developing countries after approvals, a Mylan…

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Pfizer Inc said on Tuesday it agreed to pay $400 million to avert a trial in a class action lawsuit accusing the pharmaceutical giant of misleading investors in connection with off-label marketing. Pfizer disclosed the agreement-in-principle as it released its fourth-quarter results. The accord, which must be approved by a…

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Ajanta Pharma today reported 35.7 per cent increase in its net profit at Rs 84.71 crore for the quarter ended December on account of robust sales in domestic market. The company had posted a net profit of Rs 62.42 crore for the same period of previous fiscal. Net sales of…

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Moorfields Eye Hospital NHS Foundation Trust has decided to close its specials manufacturing facility in London, its board announced on 27 January 2015. Manufacturing of specials has been suspended at the plant since December 2013 following concerns raised by the UK Medicines and Healthcare products Regulatory Agency (MHRA) about some…

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Payers are likely to put pressure on drugmakers to lower the cost of cancer medicines, particularly when alternative treatments are available, the head of Novartis' pharma division said on Tuesday. "I think there will be increased pressure on oncology prices," David Epstein, head of Novartis' pharmaceutical division told an analyst…