ANALYSIS
Drug Makers See Future in New Markets
Economist Nov 15, 08 2:47 AM CST
(Newser)
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The pharmaceutical industry is turning away from the US shores that helped fill its pockets and toward the developing world, the Economist reports. Massive growth has made markets like India and China too attractive to ignore, despite lower income levels and weaker patent laws. And many companies fear Barack Obama's health-care plans will mean major price cuts.
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Anti-smoking drug linked to more seizures, accidents
Wall Street Journal Oct 22, 08 5:25 PM CDT
(Newser)
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The FDA may beef up its warning for the anti-smoking drug Chantix after an increase in the number of serious incidents linked to the drug, the Wall Street Journal reports. A drug-safety group tallied 1,001 reports of patients suffering seizures, blackouts, and loss of motor control—some while driving—in three months. The figure is more than the combined total of incidents linked to the top 10 prescription drugs.
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MARKETS
Markets absorb gloomy Fed data and continued oil drop
Wall Street Journal Jul 23, 08 3:15 PM CDT
(Newser)
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The markets pared earlier gains to end just slightly positive today, amid mixed earnings reports and a gloomy-but-expected Federal Reserve data on the US economy, the Wall Street Journal reports. The Dow gained 29.88, closing at 11,632.38. The Nasdaq gained 21.92, settling at 2,325.88, while the S&P 500 fell 5.19 to 1,282.19.
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Pact with Indian drug maker stands to net billions for Pfizer
New York Times Jun 18, 08 5:11 PM CDT
(Newser)
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Pfizer has struck a deal with an Indian generic drug maker to delay a cheaper version of Lipitor in the US until November 2011. The agreement limiting generic versions of the cholesterol-lowering drug will translate into billions more in profits for Pfizer, the New York Times reports. Lipitor, the world's best-selling medicine, costs about $3 a day; a generic version will likely be less than $1.
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FAA bans pilots and air controllers from using Chantix after report
Wall Street Journal May 22, 08 7:39 AM CDT
(Newser)
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Pfizer smoking-cessation drug Chantix has been linked to nearly a thousand serious incidents in the last quarter of 2007, the Wall Street Journal reports. A report from a drug safety group found that some users of the drug—already linked to depression and suicide—suffered heart trouble, diabetes, or accidents caused by dizziness and confusion.
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Cholesterol, anemia drugs in spotlight
Wall Street Journal May 8, 08 3:10 AM CDT
(Newser)
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A congressional panel will examine three ad campaigns as part of a move to tighten regulations on drug companies' direct-to-consumer marketing, the Wall Street Journal reports. The committee will focus on ads for cholesterol drugs Vytorin and Lipitor, and anemia drug Procrit, which has been promoted as an anti-fatigue drug despite FDA demands not to do so.
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MARKETS
Mixed data leads to seesaw after Wednesday's rally
MarketWatch Apr 17, 08 3:27 PM CDT
(Newser)
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The Dow ticked up 1.22 points to close at 12,620.49 today, after a flood of mixed earning reports mostly kept stocks down during the session. One analyst was impressed the market didn’t dip, saying it “seems to be holding up relatively well, especially after yesterday’s rally.” The Nasdaq was off 8.28 points, closing at 2,341.83, and the S&P rose 0.85 to 1,365.56.
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Supreme Court left deadlocked by recusals amid calls to divest
Bloomberg Mar 7, 08 7:35 PM CST
(Newser)
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The stock portfolios of Supreme Court justices have become a flash point this term, in which six cases could be affected by justices recusing themselves because they own financial stakes in companies involved. Chief Justice John Roberts, Justice Samuel Alito, and Justice Stephen Bryer have bowed out of cases involving Pfizer, Exxon and Cisco, respectively—apparently because of stock holdings, Bloomberg reports.
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Critics accused
pharma giant of
inflating doctor's CV
New York Times Feb 25, 08 7:55 PM CST
(Newser)
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Pfizer said today it will drop its ads for cholesterol drug Lipitor due to criticisms of the TV spots, the New York Times reports. US lawmakers recently probed whether the campaign had inflated the credentials of artificial heart developer Dr. Robert Jarvik. "The way in which we presented Dr. Jarvik in these ads has, unfortunately, led to mis-impressions and distractions," said Pfizer president Ian Read.
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Drug giants collect now against expected future losses
Wall Street Journal Feb 21, 08 4:45 AM CST
(Newser)
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Drug companies have slapped a series of huge price hikes on some prescription drugs ahead of drug patent expirations, the Wall Street Journal reports. GlaxoSmithKline has raised the price of antidepressant Wellbutrin 44.5%, while Sanofi-Aventis hiked Ambien's price 70%. Wholesale prices for the top 50 drugs increased an average of nearly 8% last year.
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Latest warning on side effects appears certain to rattle big pharma
San Francisco Chronicle Feb 1, 08 6:11 PM CST
(Newser)
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Taking epilepsy medication can double risk of suicidal behavior, the San Francisco Chronicle reports. Results of a government study showed the increased risk for 11 specific drugs, including Pfizer’s Neurontin and Lyrica, but the Food and Drug Administration warned that the findings probably apply to all epilepsy medications. Labels for the drugs will be changed to reflect the risks.
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Paralyzing meds made by Chinese firm that sells all RU-486 in US
New York Times Jan 31, 08 5:00 AM CST
(Newser)
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A Chinese pharmaceutical giant which exports the abortion pill RU-486 to the US is accused of producing tainted cancer medication and of attempting a cover-up. Shanghai Hualian's tainted drugs left 200 Chinese leukemia patients hospitalized, some paralyzed, reports the New York Times . There's no indication US shipments of RU-486 are also tainted. The company is the sole supplier of RU-486 to the US.
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New study says negative reports often go unpublished
Wall Street Journal Jan 16, 08 9:37 PM CST
(Newser)
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Roughly half of the medical studies involving antidepressants that found little or no effect on patients have gone unpublished or had their findings mischaracterized as positive, a new study reveals. The emphasis on publishing only studies with glowing reviews gives patients and doctors a false sense of the effectiveness of drugs such as Zoloft and Effexor, the Wall Street Journal reports.
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Widely advertised Lyrica treats fibromyalgia, but some docs raise red flags
New York Times Jan 14, 08 4:20 PM CST
(Newser)
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The first drug approved by the FDA to treat fibromyalgia is raising questions, but not the typical ones about whether the medication works. They're questions about whether the disease even exists. Lyrica sales are up and climbing, but critics say giving a name to the chronic pain that characterizes fibromyalgia lends the diagnosis undeserved legitimacy, the New York Times reports.
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