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Jul 30, 2015

Amgen profit tops Street view, boosts full-year forecast

July 30 (Reuters) – Amgen Inc on Thursday reported
higher-than-expected second-quarter profit and revenue, helped
by strong sales of its Enbrel rheumatoid arthritis drug and cost
cutting, and the company raised its full-year forecasts.

Excluding special items, Amgen earned $2.57 per share,
topping analysts’ average expectations by 14 cents, according to
Thomson Reuters I/B/E/S.

Jul 30, 2015

Abbott strikes deals with heart valve replacement companies

By Bill Berkrot

(Reuters) – Abbott Laboratories (ABT.N: Quote, Profile, Research, Stock Buzz) on Thursday said it would buy a small private company and has invested in another, with an option to buy, as it places bets on the future growth potential of minimally invasive systems to replace diseased heart valves.

Abbott said it has agreed to acquire the equity in Minnesota-based Tendyne Holdings Inc that it does not already own for $225 million plus future payments tied to regulatory milestones. Abbott already had a 10 percent stake in the company worth about $25 million.

Jul 27, 2015

Mylan independence from Teva’s embrace comes with a price

By Bill Berkrot

(Reuters) – Generic drugmaker Mylan NV won a reprieve on Monday from its unwanted suitor, Teva Pharmaceutical Industries, but now faces an uphill battle to make its own acquisition as its biggest rival just got bigger.

Teva announced a $40.5 billion deal for the generic assets of Allergan Plc after an unsuccessful three-month attempt to bring Mylan to the table.

Jul 22, 2015

Biogen Alzheimer’s data disappoints, Lilly gets slight bump

By Ransdell Pierson and Bill Berkrot

(Reuters) – Disappointing data for Biogen Inc’s experimental Alzheimer’s drug dragged shares of the company lower on Wednesday, while investors took a slightly more positive view of new findings for a treatment from Eli Lilly and Co.

Shares of Biogen traded 3.9 percent lower in midafternoon after falling as much as 4.9 percent, while Lilly was up slightly, recovering from a decline of 4.7 percent after the two companies released study data at the Alzheimer’s Association International Conference in Washington.

Jul 22, 2015

Mixed result on Biogen Alzheimer’s drug as 6mg dose falls short

July 22 (Reuters) – A 6 mg dose of Biogen’s
experimental Alzheimer’s disease drug significantly reduced beta
amyloid plaque in the brain but failed to significantly slow
mental decline, potentially tempering great enthusiasm that
greeted data on two other doses of the treatment earlier this
year.

The 6 mg data, which showed some slowing of mental decline,
were presented on Wednesday at the Alzheimer’s Association
International Conference (AAIC) in Washington, D.C.

Jul 21, 2015

Novartis blocked from selling Neupogen copycat until Sept. 2

NEW YORK, (Reuters) – Novartis AG must wait until
Sept. 2 to sell the first biosimilar drug to be approved in the
United States, a copycat version of Amgen Inc’s $1.2
billion-a-year Neupogen, a U.S. appeals court said on Tuesday.

The ruling stemmed from a lawsuit Amgen filed last October
in federal court in San Francisco in which it accused Novartis’
generic drugs unit Sandoz of infringing on a patent for
Neupogen, which boosts white blood cell counts to fight
infections in cancer patients.

Jul 21, 2015

Drugmaker Novartis blocked from selling Neupogen copycat until Sept 2

NEW YORK (Reuters) – Novartis AG must wait until Sept. 2 to sell the first biosimilar drug to be approved in the United States, a copycat version of Amgen Inc’s $1.2 billion-a-year Neupogen, a U.S. appeals court said on Tuesday.

The ruling stemmed from a lawsuit Amgen filed last October in federal court in San Francisco in which it accused Novartis’ generic drugs unit Sandoz of infringing on a patent for Neupogen, which boosts white blood cell counts to fight infections in cancer patients.

Jul 18, 2015

Ahead of Alzheimer’s meeting, researchers seize on signs of progress

NEW YORK (Reuters) – After decades of Alzheimer’s research that led to dead ends, including 123 drugs that failed, top researchers in the field say they are far more confident now of producing an effective treatment.

Their optimism has been building ahead of the Alzheimer’s Association International Conference (AAIC), which starts on Saturday in Washington, DC. New experimental drugs from Eli Lilly and Co and Biogen have shown promise in slowing down the progression of the mind-wasting disease, attracting the attention of investors and patients.

Jul 14, 2015

Celgene to buy Receptos for $7.2 billion; gains promising drug

By Bill Berkrot

(Reuters) – Celgene Corp said on Tuesday it would buy Receptos Inc for $7.2 billion in a move that will give the U.S. biotechnology company a potential multibillion-dollar drug in late stage development for inflammatory bowel disease and multiple sclerosis.

Celgene, whose shares rose nearly 6 percent in extended trading to $130.15, said it would pay $232 per share in cash for the smaller biotech. Receptos shares closed at $207.18 on Nasdaq and rose to $228.14 after hours.

Jun 30, 2015

U.S. doctors, hospitals reap $6.5 bln from drug and device makers -report

June 30 (Reuters) – U.S. doctors and research hospitals
collected nearly $6.5 billion in payments for services rendered
to pharmaceutical and medical device companies in 2014,
according to the Centers for Medicare & Medicaid Services (CMS)
Open Payments report released on Tuesday.

The report, in its second year, lists 11.4 million payments
to 607,000 physicians and more than 1,100 teaching hospitals
made by 1,444 companies. (openpaymentsdata.cms.gov/)

    • About Bill

      "Based in New York, I primarily cover the pharmaceutical and biotechnology sectors as well as other publicly traded companies involved in health care. Previously covered a wide range of sports for Reuters."
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