drugmakers

U.S. Companies Park Profits Overseas, Avoid Taxes

Large American companies are parking more of their profits overseas. A Wall Street Journal analysis found that 60 big companies shielded more than 40 percent of their annual profit from U.S. taxes.

Affymax, Takeda Recall Anemia Drug Omontys After Deaths

U.S.-based Affymax Inc and Japan's Takeda Pharmaceutical Co said they are voluntarily recalling all lots of anemia treatment Omontys (peginesatide) in the United States due to reports of serious hypersensitivity reactions, including some deaths.

Two Reasons for Clinical Data Shares to Soar Again

From October 2010 to February 2011, biotech Clinical Data's stock doubled, mostly thanks to FDA approval of its novel antidepressant. But also pushing the stock up -- and making it likely to perhaps double again -- is speculation that a Big Pharma will buy Clinical Data.

As Diabetes Explodes, Big Pharma Is Gearing Up

Diabetes is a growing global scourge, but for Big Pharma it's more of a lifesaver. As the number of people with diabetes and prediabetes explodes, drugmakers are cranking up their research efforts. After all, many existing drugs will soon be losing their patents, and diabetes could be a $55 billion market by 2019.

What Pfizer Sees in Lpath's Innovative Blindness Drugs

Lpath focuses on developing therapeutics that target bioactive lipids for treating a range of human diseases, including cancer and diseases that cause blindness. Its promising drugs have attracted attention -- and lots of money -- from Pfizer. More of both could be coming.

A Depressing Outlook for Big Pharma's Next Few Years

After several years of robust expansion, the leading branded pharma companies will see growth slow to just 1.3% from now to 2015, independent market analyst company Datamonitor said in a new report. The primary culprit: expiring patents and an onslaught of generic competition.

Drug Shortages: A Deadly Problem With No Cure in Sight

If gasoline or jobs or milk were in short supply, we'd all know about it. But unknown to most Americans, the country is now in the grips of a life-threatening drug shortage. Medical professionals are quite aware of it, however, and they're deeply concerned.

J&J Unit to Develop Blood Test to Find Cancer Cells

Teaming with Massachusetts General Hospital and others, J&J's Veridex is developing a novel method of isolating cancer cells from a patient's bloodstream. If successful, the blood test could ultimately replace more invasive and painful ones such as biopsies.

Biotechs and Big Pharma Squabble in Sweden

At a recent life-sciences conference in Stockholm, execs of several U.S. and foreign biotechs clashed with Big Pharma in a lively debate on the merits of their respective goals and products. The result, however, was a stand-off.

Pharmas Probed Over Foreign Bribery Allegations

Federal investigators are looking into allegations that major drug companies, including Merck, AstraZeneca, Bristol-Myers Squibb and GlaxoSmithKline, paid bribes overseas to boost sales and accelerate approvals.

Setback for Roche and Immunogen Breast Cancer Drug

The FDA denied accelerated approval of Roche's trastuzumab-DM1 (T-DM1) license application. T-DM1 is a potential breast cancer treatment. Roche will continue with its trials and plans a global regulatory submission in mid-2012.

Sanofi-Aventis Opens Buyout Talks with Genzyme

French pharmaceutical giant Sanofi-Aventis sent a letter to major U.S. biotech firm Genzyme proposing a friendly takeover valued at $69 a share, or $18.4 billion. But that's significantly less than the offer of $80 a share, or $21.3 billion, that sources say Genzyme is looking for.

Sanofi-Aventis Earnings Beat Expectations

Sanofi-Aventis reported its second-quarter net profit rose 7.6% to 2.48 billion euros, beating expectations. But the French drugmaker warned that earnings may fall for the full year, and it remained silent about its rumored plan to make a friendly bid for Genzyme.

Bristol-Myers Squibb Earnings Beat Estimates

Bristol-Myers Squibb reported better-than-expected second-quarter earnings on Thursday, driven in part by higher sales for some of its virology blood-thinner drugs, cost controls and a favorable tax rate.

Pfizer's Pipeline Looks Primed to Deliver

The stock of the world's largest drugmaker has been a laggard lately. But that could be soon changing if analysts who are pointing to a solid lineup of new products are right. They think the giant can easily offset the patent loss for Lipitor.

Merck After Health Care Reform: Still Looking Hale

Like other Big Pharmas, Merck has estimated how much the new law will crimp revenues. Unlike its peers, however, the news here looks a lot less. Merck has some advantages, including the Schering acquisition, that should help it thrive in the new era.

Despite Soaring Revenues, Merck Plans New Layoffs

Merck & Co.'s sales clearly benefited -- jumping 67% to $10.09 billion from $6.03 billion -- from its $41.1 billion purchase of Schering-Plough. Still, it aims to save $12.5 billion by 2012, and that means a 15% reduction in headcount, or perhaps 17,500 workers all told.