Jan 30 (Reuters) – AbbVie Inc’s chief executive
said on Friday the company’s new hepatitis C treatment Viekira
Pak has the potential to capture a “meaningful share” of the
U.S. market, where it is competing against Gilead Sciences
AbbVie CEO Richard Gonzalez told investors the company
expects an annualized sales run rate of more than $3 billion by
the end of 2015, which could grow beyond that as more countries
begin using Viekira Pak, which is a combination of several
Jan 29 (Reuters) – Scientific instruments maker PerkinElmer
Inc on Thursday reported better-than-expected fourth
quarter revenue and profit, helped by strong demand for its
newborn screening tests in developing markets.
The company forecast 2015 adjusted earnings of $2.58 to 2.64
per share, assuming the stronger U.S. dollar will reduce profit
by about 15 cents. Analysts’ estimates are already at the high
end of the range at $2.64 per share.
Jan 29 (Reuters) – Celgene Corp on Thursday said
early first quarter sales trends indicate the year is off to a
strong start, and that it has growth drivers in place to meet or
exceed its 2015 and long- term forecasts.
Earlier this month, the U.S. biotechnology company issued a
2020 forecast that called for revenue to exceed $20 billion, up
from $7.56 billion in 2014.
Jan 27 (Reuters) – Amgen Inc on Tuesday reported
higher-than-expected fourth-quarter profit, driven by strong
sales of its blockbuster rheumatoid arthritis drug Enbrel and a
Despite pressure on overseas sales from the strong dollar
that has put a crimp in pharmaceutical company profits, Amgen
reiterated the 2015 forecast it provided in October for adjusted
earnings of $9.05 to $9.40 per share on revenue of $20.8 billion
to $21.3 billion. Analysts are estimating earnings of $9.28 per
share and revenue of $20.87 billion.
By Bill Berkrot
(Reuters) – Regeneron Pharmaceuticals on Monday said U.S. health regulators accepted its application to review a potent cholesterol drug on a priority basis, potentially giving it the upper hand in a fierce race with Amgen to bring a new medicine from the promising class to market.
Regeneron, which is developing the drug, alirocumab, in partnership with Sanofi, said the target date for a Food and Drug Administration approval decision was July 24, following a six-month review period.
By Bill Berkrot
(Reuters) – A panel of experts on Thursday voted to recommend that U.S. health regulators approve Astellas Pharma Inc’s drug for the treatment of rare, often fatal invasive fungal infections that can target patients with blood cancers.
The Anti-Infective Drugs advisory committee panel voted 11-0 that the Japanese drugmaker had demonstrated sufficient safety and efficacy to support approval of the drug, isavuconazonium to treat invasive aspergillosis.
NEW YORK (Reuters) – U.S. drugmaker Bristol-Myers Squibb Co on Tuesday said Chief Operating Officer Giovanni Caforio will replace Lamberto Andreotti as chief executive on May 5, in another selection of a long-time insider to lead the company.
Caforio, 50, who has a medical background and led the company’s global oncology operations, will take over Bristol-Myers at a time when it is riding high on its new high-profile cancer drugs that help the immune system fight the disease.
By Caroline Humer and Bill Berkrot
(Reuters) – Aetna Inc, the third-largest U.S. health insurer, said it negotiated a discount with Gilead Sciences Inc for its hepatitis C treatment and will offer it as the preferred choice to nearly 11 million commercial customers.
Aetna, which posted an updated coverage policy on its website on Friday, said it believes the price it received for Gilead’s Sovaldi, and a newer combination treatment called Harvoni, is “competitive with other recently announced agreements for this class of therapy.” It would not detail the size of the discount.
By Bill Berkrot
(Reuters) – Researchers believe they have discovered a mechanism by which tumors eventually evade effective combination treatments for melanoma, providing clues that could lead to longer-lasting therapies for the deadliest of skin cancers.
The two-year study, led by Dr. Roger Lo of the UCLA Jonsson Comprehensive Cancer Center, looked at tumor samples from 15 melanoma patients prior to therapy that combined a BRAF inhibitor with an MEK inhibitor and after they developed resistance to the drugs.
By Bill Berkrot
(Reuters) – Orthopedic device and surgical equipment maker Stryker Corp said on Wednesday it is eyeing growth through acquisitions, and has set its sights on improving market share for its products in Europe.
Stryker Chief Executive Kevin Lobo, speaking at the JP Morgan healthcare conference in San Francisco, said the company was in a very strong cash position that would allow it to make acquisitions that are “small, medium or even large.”