pharmaceuticals

J&J to Acquire Vaccine Maker Crucell

Giant drugmaker Johnson & Johnson has agreed to buy Dutch vaccine maker Crucell. The deal will give J&J a bigger piece of the vaccine market and better access to emerging markets.

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.

Sanofi-Aventis Inks 10-Year R&D Deal with Covance

French pharmaceutical company Sanofi-Aventis announced a 10-year agreement with Covance on Thursday under which the Princeton, N.J.-based contract research firm will provide it with drug development services. Sanofi-Aventis will pay Covance between $1.2 billion to $2.2 billion.

Under the Radar: China's Biggest Drugstore Chain Looks Cheap

Here's a stock that is the largest drugstore operator in China, but still has huge growth ahead of it. The company just got costs under control, and has a new CEO. Plus, the stock is traded on the NYSE and sports a hefty dividend. Yet few know about it.

Under the Radar: Profiting from Growth in Pharmaceuticals

Looking for stocks that could move fast? Hilary Kramer, editor of GameChangerStocks.com, recommends taking a look at two lesser-known pharmaceuticals, Shire and Medco Health Systems, that she says will benefit greatly in the near term.

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.

Almost Half of All Americans Are on Drugs

The Centers for Disease Control and Prevention released data that found that almost half of all Americans took at least one prescription drug per month in 2008, up from 43.5% a decade ago.

Allergan Pays $600 Million to Settle Botox Charges

Pharmaceutical firm Allergan has settled criminal and civil charges that it promoted Botox for uses the FDA hadn't approved, agreeing to pay $600 million and enter into a "corporate integrity agreement." Allergan also dropped its related First Amendment lawsuit against the FDA.

Roche Announces Cost-Cutting Plan

Giant Swiss pharmaceutical company Roche has outlined a cost-cutting plan to help it offset pricing pressures in the U.S. and Europe, and following several setbacks in its late-stage research pipeline.

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.

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.

Sanofi-Avenits Won't Boost Genzyme Bid

Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.

Eli Lilly Shelves Potential Alzheimer's Drug

Eli Lilly has halted the development of an Alzheimer's treatment after studies showed the experimental drug not only failed to slow the disease's progression, it actually reduced patients' cognition.

FDA to Review Use of Avastin for Breast Cancer

Roche's (RHHBY) blockbuster cancer drug, Avastin, is up for review by the U.S. Food and Drug Administration next month. If the FDA follows its advisory panel's recommendation from last month, it may revoke its approval of Avastin for the treatment of advanced breast cancer.

Deutsche Bank Initiates Coverage of Biotech Stocks

Several biotech stocks were on the move Monday after Deutsche Bank started rating them. The bank's analyst, Robyn Karnauskas, took a generally wary view on the biotech sector, putting buy ratings only on Gilead and Dendreon.

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 a lot less than $80 a share, or $21.3 billion, that sources say Genzyme is looking for.

Sanofi-Aventis Earnings Beat Expectations

On Thursday, 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.

Genzyme Stock Up Again on Takeover Reports

Is Genzyme for sale? There's still no official confirmation, but Genzyme shares continued to rise on speculation the pharma firm may be a takeover target. Sanofi is a likely buyer, but other suitors are said to be waiting in the wings.