The Food and Drug Administration on Wednesday approved the first new drug to treat lupus in 56 years. It's not terribly effective: It only worked for 35% of the patients tested. But experts say the approval could prompt the development of more effective drugs.
In an update Tuesday, Pfizer said it is discontinuing 15 of the projects in its development pipeline. The news comes a month after the world's largest pharmaceutical company announced large research and development cuts were on the way.
To get potentially lifesaving drugs to patients faster, the U.S. Food and Drug Administration is allowed to approve some drugs -- those that address unmet medical needs -- based on fewer trials than usual. But it turns out that many of the pharmaceutical companies fail to conduct follow-up trials to prove the drugs work.
Whistleblowing firm Ven-A-Care has recovered $2 billion for taxpayers by suing drug companies that overcharge the government and create windfalls for participating pharmacies. It also has made $380 million for itself. What's the problem with that?
When Merck halted a late-stage study of its potential clot-preventing drug vorapaxar in stroke victims last week, it didn't explain why. Now, the company has confirmed it stopped the study after concerns that the drug increased the risk of bleeding in some patients.
Mergers, acquisitions and major restructurings made Big Pharma a much smaller and leaner sector, with some 54,000 jobs lost. At least that's better than 2009's 61,000 layoffs.
Led by the health insurance reform law, a flurry of drug and food recalls, key medical breakthroughs and plenty of layoffs and lawsuits, 2010 proved to be an exciting -- if not always positive -- year. Here's our rundown of the biggest health care stories.
According to the latest leaked U.S. diplomatic cables from WikiLeaks, Pfizer hired investigators to try to uncover evidence of corruption in order to pressure the Nigerian attorney general to drop the case against it.
After the U.S. Food and Drug Administration rejected two other weight-loss pills earlier this year, an advisory panel has recommended the approval of Orexigen Therapeutics's Contrave. If the FDA follows the recommendation, Contrave could become the first diet drug to win approval in a decade.
CVS Caremark has agreed to pay $77.6 million in fines for illegally selling a chemical, common in some cold and cough medicines, that ended up being used to make methamphetamine.
Drugmaker Alkermes said Tuesday it has received U.S. approval to market its addiction medication for use in patients addicted to narcotics like heroin and morphine. Vivitrol, a monthly injection, is already approved for alcoholism.
Global pharmaceutical sales are expected to grow by 5% to 7% in 2011, thanks to robust growth in emerging markets, especially China, as well as new innovative treatments, and despite patent expirations and budget pressures in the developed world.
Drugmaker Bristol-Myers Squibb plans to buy ZymoGenetics, its partner in developing a hepatitis C treatment, for $885 million. The move is part of a trend of pharmaceutical acquisitions as several big patents face expiration soon.
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.
