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Biotech and Pharmaceuticals Pharmaceuticals

  • LONDON— Anglo-Swedish drugmaker AstraZeneca says first-quarter revenue fell amid declining sales of cholesterol treatment Crestor, which lost patent protection last year. Net income fell to $537 million, from $646 million. CEO Pascal Soriot said Thursday that the impact of recent patent expirations should ease this year as he highlighted optimism about...

  • SEOUL, April 27- South Korea said on Thursday it has fined Swiss drugmaker Novartis 55.1 billion won for offering doctors kickbacks to recommend the company's drugs, and also suspended insurance coverage for some of its drugs. The Ministry of Health and Welfare said in a statement that it has preliminarily decided to suspend insurance coverage of nine...

  • LONDON, April 27- AstraZeneca, struggling with loss of patents on blockbusters like cholesterol pill Crestor, reported another quarter of falling drug sales on Thursday as it awaits pivotal clinical trial data that may revive its fortunes. Despite income from disposals and external deals, first-quarter revenue fell 12 percent to $5.4 billion, although core...

  • April 26- Key healthcare stakeholders, led by the World Economic Forum, plan pilot programs this year to show the value of a new model for healthcare that would track and pay for treatment based on how well it works rather than the volume of care. The first pilot, being set up in Atlanta, Georgia, will focus on treating heart failure. Signatories include Novartis AG,...

  • Martin Shkreli (C), former chief executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals, departs following a hearing at a U.S. federal court in New York City on June 6, 2016.

    Shkreli is accused of defrauding his former drug company out of millions to pay back hedge-fund investors he allegedly ripped off.

  • April 26- Merck& Co's cholesterol-reducing drug Vytorin faces competition for the first time ever after two companies announced progress on their generic versions of a drug that generated more than $1 billion in sales last year. The U.S. Food and Drug Administration on Wednesday approved Impax Laboratories Inc's generic version of Vytorin, while Teva...

  • April 26- The U.S. Food and Drug Administration on Wednesday approved Impax Laboratories Inc's generic version of Merck& Co's cholesterol-reducing drug Vytorin, the first cheap competitor for a drug that in 2016 generated more than $1 billion in sales. Zetia generated 2016 sales of $2.6 billion. Merck faces generic competition this year not only to Vytorin and...

  • WASHINGTON, April 26- U.S. Supreme Court justices on Wednesday struggled over whether to speed up the time it takes to bring to the market copycat versions of biologic drugs, expensive medicines that can generate billions of dollars in sales for drug makers. The nine justices heard arguments in an appeal by Novartis AG of a lower court decision that prevented the...

  • WASHINGTON, April 26- U.S. Supreme Court justices on Wednesday struggled over whether to speed up the time it takes to bring to the market copycat versions of biologic drugs, expensive medicines that can generate billions of dollars in sales for drug makers. The nine justices heard arguments in an appeal by Novartis AG of a lower court decision that prevented the...

  • WASHINGTON— The Supreme Court on Wednesday considered a drug company's fight to keep a generic version of its biotech drug off the market for an additional six months that would mean billions more in sales and higher costs to the public. Several of the justices seemed to side with California- based Amgen, which claims that rival Sandoz did not wait long enough...

  • Celgene exec. chair: Trump administration will listen to reccomendations from the industry

    CNBC's Meg Tirrell speaks with Robert Hugin, Celgene executive chairman, about the outlook for the pharmaceutical industry under the Trump administration.

  • JERUSALEM, April 26- Teva Pharmaceutical Industries' finance chief Eyal Desheh will step down in the next few months after nearly a decade in the job, the second top official to resign from the Israel- based company this year. Teva said it would immediately start a search for a new CFO, but that Desheh will take part in the company's first-quarter earnings call on May...

  • LONDON— GlaxoSmithKline says new products helped first-quarter sales rise 17 percent from the year before but warned that competition from generic drugs may weigh on earnings later this year. London- based GSK said Wednesday that its sales jumped to 7.38 billion pounds from 6.23 billion pounds, ahead of analysts' expectations for a rise to 7.3 billion pounds.

  • MUMBAI, April 26- India's antitrust regulator has ordered a probe into Swiss drugmaker Roche for allegedly using anti-competitive practices to restrict cheaper copies of a blockbuster cancer drug from reaching patients. India's Biocon and U.S. firm Mylan, which together sell biosimilars of the drug in over a dozen countries including India, filed a...

  • LONDON, April 26- GlaxoSmithKline's new chief executive reported slightly better than expected first-quarter results on Wednesday, keeping the drugmaker on track to hit financial targets in 2017 as it braces for generic competition to blockbuster lung drug Advair. Analysts, on average, had forecast sales of 7.26 billion pounds and EPS of 24.5 p, according to...

  • LONDON, April 26- Summit Therapeutics is about to start pivotal tests of a novel antibiotic discovered by UK scientists to treat a sometimes deadly bowel infection, but Britons could be the last patients to get it after Britain leaves the EU. Some manufacturers are already seeking to write into supplier contracts a clause asserting who should shoulder the...

  • LONDON, April 26- Summit Therapeutics is about to start pivotal tests of a novel antibiotic discovered by UK scientists to treat a sometimes deadly bowel infection, but Britons could be the last patients to get it after Britain leaves the EU. Some manufacturers are already seeking to write into supplier contracts a clause asserting who should shoulder the...

  • Caterpillar rose 7.9 percent and McDonald's jumped 5.6 percent, while biotech drug maker Biogen rose 3.6 percent. Stocks are moving higher on Wall Street after Caterpillar, McDonald's and other big companies reported solid earnings. Caterpillar jumped 6.9 percent in midday trading Tuesday, while McDonald's rose 5 percent.

  • Bottles of Eli Lilly's Cymbalta on a pharmacy shelf in Princeton, Illinois.

    Eli Lilly reported a bigger-than-expected profit as the drugmaker benefited from higher demand for its newer products including diabetes treatment Trulicity.

  • *Shares rise 4.8 pct to $290.20 premarket. Shares of the company, which spun off its hemophilia business in February, were up 4.8 percent at $290.20 in pre-market trading on Tuesday. "We saw continued stability in our MS business, executed a strong launch of Spinraza, grew market share for our biosimilars business across Europe, and reinforced the intellectual...