NEW YORK— Nutritional supplements and weight-loss products maker Herbalife is being investigated by the attorney general of Illinois. Herbalife says it will work with the attorney general's office, and that it is confident in the integrity of its business and its compliance with the law. Herbalife shares fell 17 cents to $55.10 on Thursday.» Read More
April 17- Teva Pharmaceutical Industries Ltd said it settled a patent lawsuit with Pfizer Inc, allowing the Israeli drugmaker to launch a generic version of Pfizer's blockbuster painkiller Celebrex in December.
April 17- Teva Pharmaceutical Industries Ltd said it settled a patent litigation with Pfizer Inc, allowing the Israeli drugmaker to launch a generic version of Pfizer's blockbuster pain medication, Celebrex, in December. Celebrex's basic chemical patent expires on May 30.
CICERO, N.Y.— An Albany-based pharmaceutical company that's part of a $250 million economic development project in Buffalo is shutting down its Syracuse- area research center, eliminating 45 jobs. Albany Molecular Research Inc. announced Wednesday that it will close its 12- year-old facility in Cicero on July 15.
BEIJING/ SHANGHAI, April 17- China has backtracked on its policy of capping retail prices on medicines and will allow pharmaceutical companies to set prices for some drugs, after criticism that controls had caused a drug drought that derailed treatment for millions of patients.
LONDON, April 17- Drugmaker GlaxoSmithKline- hit by bribery claims in five countries- is to employ hundreds more doctors as members of staff as it seeks to build a new sales model designed to eliminate sharp marketing practices.
*AstraZeneca, Pfizer, UK charity link in multi-drug trial. Instead of testing one drug at a time, a novel lung cancer study announced on Thursday will allow British researchers to test up to 14 drugs from AstraZeneca and Pfizer at the same time within one trial.
The Sierra Club, the American Lung Association and other groups say that proposed emissions limits for coal-fired power plants are too lax. The biggest plants would be allowed to release more than 130,000 tons of smog-causing nitrogen oxides annually— 40 percent more than they do now, according to an analysis by the Sierra Club.
NORTHBROOK, Ill.— The U.S. Justice Department announced Wednesday that an Illinois- based pharmaceutical company will pay $7.3 million to resolve allegations involving the marketing of the drug Mycamine. Northbrook- based Astellas Pharma US Inc. manufactures and sells Mycamine, which is used to treat invasive fungus infections.
NEW YORK— A unit of Japanese drugmaker Astellas Pharma will pay the U.S. government $7.3 million to resolve claims it illegally marketed its antifungal drug Mycamine for children before that use was approved. Another $3.1 million will go to state Medicaid programs. Medicaid did not cover Mycamine for children because the FDA had not yet approved that use.
April 16- Abbott Laboratories Inc reported better-than-expected quarterly earnings on Wednesday, but combined sales of its nutritional products, medical devices and generic medicines were slightly below Wall Street expectations.
NEW YORK— British drugmaker GlaxoSmithKline is looking into allegations of bribery within its operations in Jordan and Lebanon. On Monday the BBC reported that GlaxoSmithKline PLC is facing a bribery investigation in Poland, where a sales representative allegedly paid doctors to prescribe the company's asthma drug Seretide.
BOSTON— A federal judge has blocked Massachusetts from banning the powerful new painkiller Zohydro. The judge issued a preliminary injunction Tuesday after pharmaceutical company, Zogenix, argued in a lawsuit that the ban issued by Gov.
Total U.S. prescription drug spending climbed more than 3 percent last year, propelled in part by fewer patent expirations that would have allowed for cheaper generic alternatives, according to the data firm IMS Health. IMS Health also noted that 36 new treatments entered the market last year, including 10 for cancer.
April 15- Johnson& Johnson reported quarterly earnings well above expectations, as strong sales of new drugs offset weak demand for consumer products and medical devices, and the company slightly raised its full-year profit view. J&J on Tuesday said it earned $4.73 billion, or $1.64 per share, in the first quarter.
Johnson & Johnson turned in a solid first quarter Tuesday, topping analysts' profit and revenue estimates and increasing its 2014 earnings forecast by 5 cents a share.
Americans used more health services and spent more on prescription drugs in 2013, reversing a recent trend.
ZURICH, April 15- A strong uptake of new cancer medicines helped Roche to limit a decline in first-quarter sales and the Swiss company confirmed a forecast for higher earnings this year.
*Q1 sales 11.496 bln Swiss francs vs 11.887 bln forecast. ZURICH, April 15- Adverse currency moves weighed on first-quarter sales at Roche Holding AG, which fell 1 percent, despite a healthy uptake of its new cancer medicines.
WASHINGTON, April 14- Generic drug manufacturers on Monday asked the U.S. Supreme Court to allow a lower court ruling favoring them to take effect while the high court considers an appeal in a patent fight over Teva Pharmaceutical Industries Ltd's top-selling multiple sclerosis drug, Copaxone.
Shares of Biogen Idec, Celgene, Gilead Sciences, and Lexicon Pharmaceuticals recovered from last week's selloff.