Japan's health ministry says it's continuing its suspension of pediatric vaccines made by Pfizer and Sanofi-Aventis, despite finding no connection between the vaccines and the deaths of four children. Both drugmakers are cooperating with the government and expect to be cleared.
Two pediatric vaccines have been suspended in Japan after the deaths of four children. Shares of Sanofi-Aventis and Pfizer, which make the drugs, have fallen in midday trading.
The pharmaceutical industry is ready to fall off a cliff -- a "patent cliff." Over the next few years, some of the world's most popular and lucrative medicines will go off patent, and generic competition will siphon an estimated quarter of a trillion dollars from drugmakers' bottom lines.
Sanofi-Aventis announced its cancer drug candidate iniparib failed in a late-stage clinical trial. Other pharmaceutical companies have also experienced recent setbacks as they scramble to bolster their pipelines ahead of the patent cliff, when they will be forced to compete with cheaper generics.
This little-known biopharmaceutical outfit has signed not just one but seven partnership pacts with Big Pharmas to help develop some of its products. Micromet's No. 1 appeal: It's developing novel antibody-based drugs to treat cancer, inflammatory and autoimmune diseases.
The U.S. biotech is holding an analyst and investor meeting focused on the commercial potential of its multiple sclerosis drug Campath. The goal: to convince Paris-based Sanofi-Aventis to raise its hostile takeover offer in a battle that has now gone on for five months.
Genzyme, which makes drugs to treat leukemia and multiple sclerosis, has rejected a hostile takeover bid from French drugmaker Sanofi-Aventis. The offer "dramatically undervalues" Genzyme, the company said Friday, putting its value about 30% higher.
French pharmaceutical giant Sanofi-Aventis says its multiple sclerosis drug teriflunomide significantly cut relapses in patients who took the once-daily oral treatment.
There's a new plot twist in the takeover battle between French pharmaceutical giant Sanofi-Aventis and U.S. drugmaker Genzyme. A regulatory filing made by Genzyme on Thursday claims Sanofi may be willing to go much higher than its current $69 bid -- a claim the French company disputes.
Sanofi-Aventis CEO Chris Viehbacher said Wednesday that he believes his French pharmaceutical company will eventually buy U.S. biotech company Genzyme at a reasonable price. However, he expects it will take some time to agree on a deal, and he won't rush into anything.
After a couple of fairly sleepy years, mergers and acquisition activity has bounced back dramatically, with potential long-term consequences for the stock market. It's a rare ray of hope at a time when other economic indicators are pointing straight toward the floor.
Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.