pharmaceutical industry

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FDA Approves Drug Made From Gene-Tweaked Goats

Landmark decision could signal start of large-scale 'pharming' for drugs

(Newser) - An FDA decision to approve a drug made from genetically engineered goats is being called a milestone decision likely to lead to many more "pharm animals," the Boston Globe reports. Biotech firm GTC says the milk from a single genetically modified goat can produce as much of the...

Dow Rebounds, Rises 142
 Dow Rebounds, Rises 142 
MARKETS
Feb 3, 2009 3:13 PM CST

Dow Rebounds, Rises 142

Banks still feel pain ahead of next bailout

(Newser) - Stocks bounced back in the wake of yesterday’s sell-off, with news of a rise in December existing-home sales feeding optimism, the Wall Street Journal reports. Merck continued to rise after reporting a quarterly profit, closing up 7.7% and boosting other pharmaceuticals. The Dow closed up 141.53 points...

FTC Challenges Payments to Delay Generics

Deal to keep generic drug off the market is anti-competitive, regulators say

(Newser) - The Federal Trade Commission, pledging to oppose “pay-for-delay” agreements, filed suit against a brand-name testosterone-replacement drug manufacturer for paying three competitors to delay introductions of generic versions, the Washington Post reports. Nearly half of settlements between brand-name drug-makers and their generic counterparts in 2006 and 2007 resulted in such...

Pfizer Snaps Up Wyeth for $68B
 Pfizer Snaps Up Wyeth for $68B 
Jan 26, 2009 6:11 AM CST

Pfizer Snaps Up Wyeth for $68B

Merger would be largest pharma deal since GlaxoWellcome-SmithKline 2000 merger

(Newser) - The world’s largest drugmaker, Pfizer, is poised to become even more gargantuan after it agreed early this morning to buy rival Wyeth for $68 billion, reports the Wall Street Journal. In the first major merger to hit Wall Street in months, Pfizer will borrow $22.5 billion from four...

Pfizer in Talks to Buy Wyeth
 Pfizer in Talks to Buy Wyeth  




Jan 23, 2009 5:49 AM CST

Pfizer in Talks to Buy Wyeth

Sources say drug maker plans $60B acquisition of rival Wyeth

(Newser) - Pfizer is seeking to create a Big Pharma behemoth with the acquisition of rival Wyeth, insiders tell the Wall Street Journal. The deal, expected to be worth around $60 billion, would make Pfizer—already the world's biggest drug company—big enough to redraw the map of the industry, although sources...

Pfizer to Can 800 Researchers
 Pfizer to Can 800 Researchers 
Jan 13, 2009 12:19 PM CST

Pfizer to Can 800 Researchers

Company must cut R&D spending ahead of Lipitor patent expiration

(Newser) - Pfizer will eliminate the jobs of up to 800 researchers in 2009, starting today, the Wall Street Journal reports. The pharmaceutical giant is attempting to cut costs ahead of a $30 billion reduction in revenue expected in 2011 when its patent on the popular cholesterol drug Lipitor expires. But the...

Engineered Goats May Usher In New Age of Drugs

Animals' bodies act as processors for key protein

(Newser) - Goats could be the pharma factories of tomorrow: Genetic engineering can prompt them to make a protein in their milk to fight excessive blood clotting. A medication culled from the process was greeted warmly yesterday by an expert panel, and now the FDA is looking into it. If approved, the...

Drug Companies Agree to Stop Docs' Free Goodies

Critics charged stacks of free trinkets were attempt to influence doctors' decisions

(Newser) - The piles of freebies drug companies lavish on doctors will go the way of the VHS tape as of tomorrow, the New York Times reports. The industry, facing criticism that it is trying to unduly influence doctors' decisions, has voluntarily decided to stop handing out pens, stethoscope holders, bandages, T-shirts,...

Big Pharma Seeks Big Profits in Developing Nations

Drug Makers See Future in New Markets

(Newser) - 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...

Non-Profit Pharma Puts Cures Over Cash

Institute for OneWorld Health finds cheap, new uses for partially developed meds

(Newser) - Combating diseases that afflict only the poor doesn't plump the profit margins of pharmaceutical companies; now comes one that sets out to do just that as a non-profit, Good Magazine reports. Using grants to look at long-forgotten compounds, fund clinical trials, and distribute affordable meds to the world’s poorest...

Dems Get Higher Doses of Drug Company Donations
Dems Get Higher Doses of Drug Company Donations
ANALYSIS
Sep 23, 2008 4:43 PM CDT

Dems Get Higher Doses of Drug Company Donations

McCain's scorn, growth of government programs behind shift in support

(Newser) - Pharmaceutical firms have been a stalwart Republican ally—$22 million of the industry’s $30 billion in contributions went to GOP congressional candidates in 2002—but drug makers are increasingly supporting Democrats, Jeanne Cummings reports in Politico. Programs such as President Bush’s prescription-drug plan mean half of pharmaceutical sales...

Drugs Shrinking Psychiatrists' Talk Time: Study

Cost-conscious managed care also seen behind decline

(Newser) - Psychiatry is increasingly focused on prescribing drugs and less on psychotherapy, a study published in the Archives of General Psychology finds. A reluctance by insurance firms to pay for therapy is one factor, HealthDay reports, along with the wide variety of drugs now available to treat various conditions.

Bristol-Myers Makes Bid for Icahn's ImClone

Offers 29% premium for biotech partner; shares soar

(Newser) - Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the  rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant...

America: Land of Doggy Doping
 America: Land of  Doggy Doping 
GLOSSIES
Jul 10, 2008 7:07 AM CDT

America: Land of Doggy Doping

The business of pet pharmacology is booming

(Newser) - Americans spent $49 billion on their pets last year, with an ever-growing percentage paying for treatment of  behavioral issues with tailor-made psychotropics, reports James Vlahos in the New York Times Magazine. Frustrated owners are feeding dogs drugs like Reconcile—beef-flavored Prozac—-for "mental illnesses that eerily resemble human ones,...

Big Pharma Sickens Universities
 Big Pharma
 Sickens Universities 
OPINION
Jun 22, 2008 6:07 PM CDT

Big Pharma Sickens Universities

It's too easy for drug companies to skirt lax academic regulations

(Newser) - Weak legislation allows professors to collect huge under-the-table payments from Big Pharma, and it’s time to fight back, Dan Greenberg writes in the Chronicle of Higher Education. Pharmaceutical companies pay professors to shill drugs and lend their names to industry research, and the only oversight is an honor-system mechanism...

Deal Delays Generic Lipitor Until 2011

Pact with Indian drug maker stands to net billions for Pfizer

(Newser) - 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...

Court Tosses $32M Verdict Against Vioxx

Says evidence insufficient that it contributed to Texan's death

(Newser) - A Texas appellate court threw out a $32 million verdict against Merck today, citing a lack of evidence that Vioxx contributed to a man’s fatal heart attack. Lionel Garza was taking the painkiller when he died in 2001 at age 71, but was also a smoker with high blood...

FDA Finds Contaminant in Blood Thinner

Substance discovered in heparin, linked to 19 deaths nationwide

(Newser) - The FDA has found a contaminant in samples of heparin, a blood thinner produced mainly in China linked to 19 deaths and nearly 800 allergic reactions in the US, the New York Times reports. The contaminant may be a counterfeit form of heparin added to reduce its manufacturing cost. The...

Heparin Supply Chain Shaky in China
Heparin
Supply Chain Shaky in China
Feb 28, 2008 2:07 PM CST

Heparin Supply Chain Shaky in China

Troubles could trace back to vulnerable raw materials

(Newser) - With at least four US patients dead and hundreds suffering complications from the blood-thinning drug heparin, the New York Times follows the supply chain back to Chinese slaughterhouses that deal with the pig intestines that provide raw material for the drug. Though companies say the chain is secure, the Times...

Antidepressants Mostly Useless, Study Finds

Prozac and others make a difference only in most extreme cases

(Newser) - Big Pharma swallowed a bitter pill yesterday as Prozac and other antidepressants were found in a UK study to be largely ineffectual in all but the most extreme cases of depression. The meta-analysis of 47 clinical trials submitted to the FDA with licensing applications for six popular antidepressants concluded that...

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