By Susan Kelly and Bill Berkrot
(Reuters) – Medtronic Inc’s (MDT.N: Quote, Profile, Research, Stock Buzz) $43 billion deal for Dublin-based Covidien Plc (COV.N: Quote, Profile, Research, Stock Buzz) should accelerate already intense efforts by medical device rivals to seek merger partners, industry analysts and bankers said on Monday.
Medtronic announced the transaction on Sunday, saying it would re-base the combined company in Ireland, where it can take advantage of lower corporate tax rates and easier access to cash generated overseas.
June 14 (Reuters) – Novo Nordisk’s big-selling
diabetes drug Victoza appears to be an effective weight loss
therapy, data from a late-stage clinical trial presented on
In the 56-week study of 846 overweight or obese adults with
type 2 diabetes, a daily injection of 3 milligrams of Victoza
led to significantly greater weight loss than did a placebo.
June 14 (Reuters) – A Novo Nordisk drug combining
its long-acting insulin degludec with its type 2 diabetes
treatment Victoza maintained superior blood sugar reduction
after one year than either medicine separately, according to
data from a late stage trial presented on Saturday.
The combination therapy also helped more patients achieve
recommended blood sugar levels and appeared to reduce side
effects of each of the drugs when taken alone.
June 11 (Reuters) – A drug being developed by Amgen Inc
for psoriatic arthritis demonstrated sustained
effectiveness after a year of treatment with no new safety
concerns, according to data from a midstage trial.
Amgen and partner AstraZeneca Plc had previously
presented 12-week data from the 168-patient trial of the biotech
drug, brodalumab, showing it to be significantly more effective
than a placebo.
June 2 (Reuters) – New data on Bristol-Myers Squibb Co’s
melanoma drug Yervoy, including fresh results from an
effort to combine it with another promising cancer
immunotherapy, suggest it can improve treatment for patients
with both advanced and slightly earlier stage disease, according
to findings released on Monday.
Yervoy, which takes natural brakes off the immune system to
help it more effectively attack cancer, is approved to treat
metastatic, or stage 4, melanoma – the deadliest form of skin
cancer. Cowen and Co expects the drug to capture annual sales of
$1.95 billion by 2020, as it is approved in new indications and
combinations with other treatments.
May 31 (Reuters) – Eli Lilly and Co’s cancer drug
ramucirumab modestly extended survival in a large, late-stage
study of patients with advanced, nonsmall cell lung cancer who
had relapsed following initial treatment, according to data
presented on Saturday.
In the 1,253-patient trial, those who received ramucirumab
and the common chemotherapy drug docetaxel on average lived for
10.5 months compared with 9.1 months for those who got only the
LONDON/NEW YORK (Reuters) – Pfizer abandoned its attempt to buy AstraZeneca for nearly 70 billion pounds ($118 billion) on Monday as a deadline approached without a last-minute change of heart by the British drugmaker.
The decision ends a month-long public fight between two of the world’s biggest pharmaceutical companies that sparked political concerns on both sides of Atlantic over jobs and corporate tax maneuvers.
LONDON/NEW YORK, May 26 (Reuters) – Pfizer said on
Monday it had abandoned its current attempt to buy AstraZeneca
for nearly 70 billion pounds ($118 billion) as a
deadline approached without a last-minute change of heart by the
Pfizer had until 5.00 pm (1600 GMT) on May 26 to make a firm
offer or walk away, under UK takeover rules. Its decision to
quit the stage, at least for now, had been widely expected after
AstraZeneca refused its final offer of 55 pounds a share.
By Bill Berkrot
(Reuters) – Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) said on Thursday it would file for approvals of more than 30 major products by the end of 2016 as it looks to restore growth to a medical device division that has been overshadowed by its drugs business.
The diversified healthcare company said it was positioned for growth through new products and would place significant focus on fast-growing emerging markets, particularly China and Russia.
May 22 (Reuters) – Johnson & Johnson said on
Thursday it planned to file for approvals of more than 30 major
products by the end of 2016 as the diversified healthcare
company looks to restore growth to a medical device and
diagnostics division that has been overshadowed by its drugs
business in recent years.
The company, prior to a review of the division for analysts
and investors, said its recently launched products and extensive
pipeline position it for continued growth.