Curator / Business & Finance Today / Biotech, Pharma /
October 9, 2008
Biotech, Pharma
Beyond Wall Street, Pockets Of Prosperity ·
Beyond Wall Street and Capitol Hill is another economy entirely. These producers have their challenges, but many are finding opportunities amidst the chaos. (Forbes.com)
U.S. Cracks Down On Internet Druggists · President Bush will sign legislation that will help the United States crack down on Internet pharmacies that peddle drugs like Vicodin or Ritalin without a prescription. (WSJ)
Scripps Gets $30M To Build HIV Vaccine Center · Scripps Research Institute won a $30 million grant from the International AIDS Vaccine Initiative to build a research center to work on developing an HIV vaccine. (FierceVaccines)
Scientists Leave Biotech For Clean Tech · A growing number of biotech scientists are leaving biotech and pharmaceutical businesses to find jobs in clean tech companies. Venture capitalists put $2.5 billion into clean tech in 2007. (FierceBiotech)
Rituxan Aids Survival For Leukemia Patients · Genentech and Biogen Idec's co-marketed drug Rituxan "significantly" boosted progression-free survival for patients with chronic lymphocytic leukemia when used in combination with two chemotherapy drugs. (FiercePharma)
Pfizer Says No Layoffs, Staff Not Convinced · Pfizer has promised no layoffs under Chief Executive Jeffrey Kindler's massive reorganization plan. Staffers don't believe that is how things will pan out, and their beliefs may be well founded. (BNET)
Lilly Pays $62M To Settle Zyprexa Probes · Eli Lilly will pay 32 states $62 million over its marketing of Zyprexa. But the settlement may not affect earnings at Lilly, which sells $62 million worth of the antipsychotic drug every five days. (WSJ)
Pfizer May Have Manipulated Epilepsy Studies · Experts working for plaintiffs in a lawsuit against Pfizer claim it manipulated the publication of scientific studies to support the use of its epilepsy drug Neurontin for other disorders and suppressed unfavorable research. (NYT)
Bayer Warned Over Birth Control Pill Ads · The U.S. Food and Drug Administration has sent a letter to Bayer warning that two TV commercials for its Yaz birth control pill overstate the drug's effectiveness, minimize its risks and imply it is approved to treat premenstrual syndrome. ( Pharmalot)
Bristol-Myers To Pocket $1B From Lilly-ImClone Deal ·
Bristol-Myers Squibb's 16.6% share of ImClone Systems will net it $1 billion in cash from Eli Lilly's takeover deal. The gain will greatly improve Bristol's cash position relative to Lilly. (BNET)
Free Drug Samples May Harm Children’s Health · Doctors may be risking the health of children by giving them free drug samples. Four of the 15 drugs most given to children in 2004 later got black-box warnings or big changes to their cautionary language. (FiercePharma)
Dendreon Prostate Cancer Study Appears Promising · Dendreon prostate cancer vaccine Provenge cut the risk of death in a test by 20% compared with a placebo. The study is not yet complete; the biotech's goal is a 22% reduction in the risk of death. (WSJ)
Roche Cuts Cancer Drug Price In U.K. · Roche is cutting the price of its its lung cancer treatment Tarceva by about $1,000 to win approval for its usage from the U.K.’s National Institute for Health and Clinical Excellence. (Pharmalot)
Alpharma Agrees To Talk With King Pharma · Two weeks after rejecting a sweetened bid of $37 a share from King Pharmaceuticals, Alpharma has agreed to talks. (Pharmalot)
Lilly To Buy ImClone For $6.5B, Tops Bristol Bid · Eli Lilly has formally offered $70 a share for ImClone Systems, topping Bristol-Myers Squibb's hostile bid of $62 a share. The 6.5 billion deal would be Lilly's biggest. (Bloomberg)