Novartis Halts Lung Cancer Drug Study
Novartis will discontinue studies of an experimental lung-cancer cancer drug because of disappointing trial results.
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Novartis's Vaccine Menveo Meets Goals in Protecting Infants From Meningitis
The results of a late-stage trial show Menveo could offer protection against meningitis -- an infection of the brain and spinal cord. Now, the drugmaker intends to file Menveo for use in infants in the U.S. and Europe.
Novartis Halts Two Drug Development Programs
Swiss pharmaceutical company Novartis announced Tuesday that it had discontinued the development of two drugs -- the hepatitis C treatment Zalbin, and antifungal agent Mycograb. The company will take impairment charges of approximately $590 million in third quarter of 2010.
Novartis's Multiple Sclerosis Pill Gets FDA Approval
After a long wait, the FDA has OK'd Novartis's Gilenya as a first-line treatment for relapsing forms of multiple sclerosis -- the disease's most common form. MS affects over 400,000 Americans and more than 2.1 million people worldwide, giving Gilenya blockbuster potential.
New Novartis Lung Disease Drug Beats GSK's Advair in Study
Shares of Swiss pharmaceutical company Novartis were up about 1.5% in morning trading Monday following its announcement over the weekend that its Onbrez Breezhaler was found to be more effective at treating lung disease than a standard medicine from GlaxoSmithKline.
Legal Briefing: A Roundup of Labor-Related News
Labor Day isn't just about rounding out the summer season with a nice three-day weekend, of course. It's a "national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country", notes the Labor Department, and has been a national holiday for over 100 years. In that vein, here's a roundup of recent labor-oriented legal news:
Novartis Completes Purchase of Alcon Majority Stake from Nestle
More than two years after beginning the acquisition process, Swiss pharmaceutical Novartis said Thursday that it had completed the purchase of a 77% stake in U.S. eye-care company Alcon from food giant Nestlé, paying $28.3 billion for the remaining 52% of Alcon that Nestlé owned.
Breathe Easier: WHO Declares H1N1 'Swine Flu' Pandemic Over
Though the threat of H1N1 infection remains, the World Health Organization has declared an end to the Swine Flu pandemic, citing "pure good luck" to explain why the disease wasn't as lethal as feared.
Legal Briefing: Novartis Settles Sex Discrimination Case
Pharmaceutical giant Novartis lost a huge gender discrimination case in May, and faced $250 million in punitive damages, plus possibly hundreds of millions more in compensatory damages. Rather than deal with years of appeals, both sides settled Wednesday for $152 million.
Legal Briefing: U.S. Targets More Rich Tax Cheats
Now that they are nearly done squeezing Swiss bank UBS for information about its wealthy tax-dodging clients, the IRS and the Justice Department are moving on to new tax fraud targets: Clients of London-based bank HSBC Holdings, mostly those with ties to India and Singapore.
Achillion Is a Small Biotech on the Verge of Big Moves
Its development of novel treatments for hepatitis C is leading Achillion to seek partnerships with major drugmakers. Many analysts see great potential for its drugs and expect it to strike one or more deals soon.
Merck Gets FDA Nod for Asthma Drug
Merck (MRK) today announced that the U.S. Food and Drug Administration has approved its respiratory drug Dulera for Asthma patients 12 years of age and older. Dulera is a new two-in-one, fixed-dose combination, which was developed by Schering-Plough and then inherited by Merck when it acquired its smaller rival last year.
Blood Pressure Drugs Linked to Higher Cancer Rate
Angiotensin-receptor blockers, a common class of blood pressure medications, have been linked to an increased risk of cancer in a recent study. These widely used drugs include medicines such as Boehringer's Micardis, Merck's Cozaar and Hyzaar, and Novartis's Diovan.