pharmaceutical industry

Is Your Doctor on Big Pharma's Payroll?

Drug companies spend hundreds of millions of dollars a year to influence doctors' prescribing habits -- money that often goes directly into physicians' pockets for "consulting fees" and "educational presentations." Wondering if your doc is one of them? The nonprofit journalists at ProPublica can tell you.

Big Pharma Ads Flaunt FDA Rules

Officially, it's the FDA's job to ensure that pharmaceutical ads adhere to guidelines. But the agency's annual compliance budget is $9 million, while drug companies spend $58 billion a year on marketing. So it comes as no surprise that only 18% of ads are in compliance with the rules. But it's still disturbing: This is your health.

Top-Selling Drugs About to Lose Patent Protection

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.

Big Pharma Looks Beyond Drugs to Smartphone Apps

Pharmaceutical companies looking for fresh sources of profit are increasingly investing in a range of health care innovations that aren't drugs at all, from smartphone apps and educational websites to social media platforms and wireless devices, reports Ernst & Young.

Confirmed: Why Merck Halted Its Stroke-Victim Study

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.

What a Wild Year It Was
for Health Care

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.

AstraZeneca's Brilinta Fails to Win FDA Approval

The FDA disappointed AstraZeneca and its investors by not approving its heart drug Brilinta, a blood-thinner that the company -- facing a severe patent cliff -- has high hopes for. If approved, it could be a multibillion-dollar blockbuster. But the FDA wants to see more analyses of results from a major study.

Johnson & Johnson Announces Bid for Crucell

As part of its efforts to expand into the biotech market, Johnson & Johnson is making a long-anticipated bid for Dutch vaccine maker Crucell -- in spite of Crucell's recent manufacturing troubles.

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.

Sanofi Says MS Drug Reduces Relapses

French pharmaceutical giant Sanofi-Aventis says its multiple sclerosis drug teriflunomide significantly cut relapses in patients who took the once-daily oral treatment.

Sanofi Denies Offering $69-$80 Price Range to Genzyme

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.

World Drug Sales to Hit $880 Billion in 2011

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.

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.

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.

Four Cash-Rich Pharma Picks From Goldman

While a new report from Goldman Sachs says health care is in a state of flux that most of the sector's companies haven't adjusted to yet, it also pinpoints four that have plenty of cash that could be put to good use for investors.

Sanofi Is in No Rush to Reach Deal With Genzyme

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.

Bristol-Myers Squibb to Buy ZymoGenetics for $885 Million

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.