Drugmaker Eli Lilly Plans to Cut Hundreds of Sales Jobs
Eli Lilly plans to cut hundreds of workers from its U.S. sales force as the drugmaker prepares to deal with the loss of patent protection for two more top-selling drugs.
pharmaceutical stocks
UBS Releases List of 14 Favorite Stocks
Stocks have soared to record levels this year, but one brokerage firm says there are still plenty of profits left to mine: UBS is out with a new list of 14 favorite stocks.
Pfizer Sells Capsugel: Will More Asset Sales Follow?
On Monday, Pfizer announced it would sell its Capsugel business to private-equity firm KKR for $2.375 billion. If the hints the drugmaker has been giving lately are true, the move could be the start of two years of major asset sales. Here's what's ahead for the world's biggest pharmaceutical company.
Inside Wall Street: How Goldman Is Playing the Coming Tide of Generic Drugs
Generic drugs are expected to enjoy a banner year in 2011, prompting some investment pros to reformulate their portfolios to get a jump on the transition. For Goldman Sachs, that means betting on several wholesale distributors and retail drugstores that stand to benefit.
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.
Still No Deal Between Sanofi-Aventis and Genzyme
What is preventing the French pharmaceutical group and U.S. biotech from reaching a merger agreement?
Sanofi-Aventis, Genzyme on the Brink of a Merger
It seems that months of merger talks between French pharma Sanofi-Aventis and U.S. biotech Genzyme have entered the home stretch. This week, Sanofi is expected to offer $74 a share for Genzyme, with an option included potentially worth $5 to $6 a share.
Pfizer Joins Other Pharmas in Giving a Cautious Outlook
Pfizer reported fourth-quarter earnings on Tuesday that nearly quadrupled from a year ago as revenue rose 6%. But it also lowered its sales guidance for 2012, due to some of its bestselling drugs going off patent. What's ahead for the world's biggest drugmaker:
Another Cancer-Drug Failure Highlights Difficulties Facing Pharmas
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.
As Diabetes Explodes, Big Pharma Is Gearing Up
Diabetes is a growing global scourge, but for Big Pharma it's more of a lifesaver -- and many 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.
Glaxo Faces First of Many Possible Avandia Trials
Did GlaxoSmithKline's blockbuster diabetes drug Avandia cause fatal heart attacks? The first federal trial of an Avandia lawsuit began this morning in Philidelphia. As many as 50,000 more lurk in the wings.
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.