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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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/)