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Pharmaceuticals

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  • LOS ANGELES, Dec 23- Express Scripts, the largest manager of prescription drug plans for U.S. employers, is taking an increasingly aggressive stance in price negotiations with pharmaceutical companies after winning discounts on medications with a strategy introduced last year. On Monday, Express Scripts said it lined up a cheaper price for AbbVie Inc's newly...

  • Asian shares up after Dow surpasses 18,000 points Tuesday, 23 Dec 2014 | 4:31 AM ET

    In a year full of market milestones, Wall Street crushed a couple more Tuesday, lifting the Dow Jones industrial average past the 18,000- point mark for the first time and delivering the Standard& Poor's 500 index its second record-high close in two days. Investors welcomed the latest encouraging news on the economy as the government said the U.S. grew at the...

  • LOS ANGELES, Dec 23- Express Scripts, the largest manager of prescription drug plans for U.S. employers, is taking an increasingly aggressive stance in price negotiations with pharmaceutical companies after winning discounts on medications with a strategy introduced last year. On Monday, Express Scripts said it lined up a cheaper price for AbbVie Inc's newly...

  • Dec 22- The largest U.S. pharmacy benefit manager said on Monday it has lined up a cheaper price for AbbVie Inc's newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead Sciences Inc's treatments after trying for nearly a year to win a deeper discount. Express Scripts' move reignited investor concerns that pharmaceutical companies...

  • Dec 22- The nation's largest pharmacy benefit manager has lined up a cheaper price from AbbVie Inc on its newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead Sciences Inc treatments, Express Scripts said on Monday. Express Scripts has opposed the $84,000 pricetag of Gilead Sciences' Sovaldi treatment since it was approved a year...

  • FDA OKs Cubist antibiotic for serious infections Friday, 19 Dec 2014 | 6:34 PM ET

    TRENTON, N.J.— The Food and Drug Administration has approved a new medicine to fight complex infections in the abdomen and urinary tract, the fourth antibiotic the agency has approved since May. The approval of Zerbaxa on Friday is the second antibiotic approval this year for Cubist Pharmaceuticals, a drugmaker focused on antibiotics. It is being acquired for...

  • AstraZeneca cancer drug, companion test approved Friday, 19 Dec 2014 | 1:24 PM ET

    TRENTON, N.J.— U.S. regulators on Friday granted accelerated approval to the first in a new class of targeted drugs for ovarian cancer, Lynparza from British drugmaker AstraZeneca PLC. The Food and Drug Administration also approved a companion diagnostic test from Myriad Genetics Inc. of Salt Lake City called BRACAnalysis CDx. Richard Pazdur, director of the...

  • Roche and Italian banks stymie European share rebound Friday, 19 Dec 2014 | 12:36 PM ET

    *Continental shares underperform Britain's FTSE. LONDON, Dec 19- Continental European stocks edged lower on Friday as a late advance was hindered by Swiss drugmaker Roche after two of its major drugs failed tests, with Italian banks under pressure from a downgrade by S&P. However, the FTSEurofirst 300 index of top European shares, which was boosted by a 1.2...

  • Spain's Almirall gains on report of Actavis interest Friday, 19 Dec 2014 | 12:29 PM ET

    Dec 19- Shares in Spanish drugmaker Almirall jumped 9 percent on Friday after a Bloomberg report of potential takeover interest from Actavis. Almirall played down the report, saying in a regulatory filing that "the news is untrue." Almirall, with a market value of 2.3 billion euros, recently sold its respiratory business to AstraZeneca, while Actavis is in the...

  • Juno Therapeutics soars in Nasdaq debut Friday, 19 Dec 2014 | 12:13 PM ET

    CEO Hans Bishop told CNBC investors are feeling optimistic about immunotherapy and the company's cancer treatments in development.

  • LONDON, Dec 19- European stocks held steady on Friday, pegged back by Swiss drugmaker Roche after it saw two major drugs fail tests and with Italian banks under pressure from a downgrade by S&P. "The upcoming drug pipeline was priced into the stock, but it looks unlikely these revenues will materialise," Jasper Lawler, market analyst at CMC Markets, said.

  • INDIANAPOLIS— Eli Lilly and Co. could pay more than $570 million to French pharmaceutical company Adocia under an agreement to develop a fast-acting insulin that is in the early stages of clinical testing. Lilly said Friday that it will pay $50 million upfront and an additional $280 million and $240 million if the insulin reaches some development and sales...

  • LONDON, Dec 19- European stocks edged lower on Friday, reversing an early rise, as Italian banks came under pressure from a downgrade by S&P and Swiss drugmaker Roche saw two major drugs fail tests. The FTSEurofirst 300 index of top European shares was down 0.1 percent tot 1,355.47 points at 1113 GMT, retreating after a 3 percent advance on Thursday.

  • Merck buys Swiss biotech with promising cancer drug Thursday, 18 Dec 2014 | 12:16 PM ET

    KENILWORTH, N.J.— Drugmaker Merck says it's bought a Swiss biotech company developing cancer drugs as part of its strategy to be a top player in cancer, one of the hottest pharmaceutical research areas. Merck& Co., based in Kenilworth, New Jersey, will pay up to $110 million upfront to OncoEthix. The privately held company could receive further payments of up to $265...

  • LONDON, Dec 18- Shareholders in British drugmaker GlaxoSmithKline have approved a planned deal with Switzerland's Novartis, which will see the two pharmaceutical groups trade more than $20 billion of assets. The transaction, which includes GSK buying Novartis' vaccines business, Novartis purchasing GSK's cancer drugs, and the two groups tying up in consumer...

  • Obesity can be deemed a disability at work: EU Thursday, 18 Dec 2014 | 7:00 AM ET

    Europe's top court ruled that obese people can be considered as disabled, meaning they would be covered by an EU law barring discrimination at work.

  • Amgen's leukemia drug one of world's priciest Wednesday, 17 Dec 2014 | 7:26 PM ET
    Amgen building in South San Francisco, California.

    Amgen's new leukemia drug Blincyto costs $178,000 for two courses of the treatment.

  • Supplement maker admits lying about ingredients Wednesday, 17 Dec 2014 | 5:30 PM ET

    NEWARK, N.J.— Federal prosecutors say the owner and president of a dietary supplement company has admitted his role in the sale of diluted and adulterated dietary ingredients and supplements sold by his company. The 69- year-old Hackettstown resident faces up to five years in prison when he's sentenced March 30. Prosecutors say Steinlight admitted that the...

  • Dec 17- Amgen Inc on Wednesday said its new type of treatment for a deadly form of leukemia would cost about $178,000 when it becomes available on Thursday, which would make it one of the world's most expensive cancer drugs. "We believe the price reflects the significant clinical, economic and humanistic value of the product to patients and the healthcare system,...

  • Arrests made in 2012 meningitis outbreak Wednesday, 17 Dec 2014 | 8:46 AM ET

    Federal authorities arrested 14 people related to a Massachusetts pharmacy connected to a deadly 2012 outbreak of fungal meningitis.