Biotech and Pharmaceuticals Pharmaceuticals

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  • Florida governor declares Zika emergency Wednesday, 3 Feb 2016 | 3:44 PM ET
    Aedes aegypti mosquitos known to carry the Zika virus.

    Florida Governor Rick Scott has declared a health emergency in four counties due to the Zika virus.

  • Shkreli attorney: I told him to stop talking Wednesday, 3 Feb 2016 | 3:35 PM ET
    Former drug executive Martin Shkreli (R) exits with his lawyer Benjamin Brafman at the U.S. Federal Courthouse in Brooklyn, New York February 3, 2016.

    After his hearing at Brooklyn court on Wednesday, Martin Shkreli will no longer be speaking to the press according to his new lawyer.

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million to $41...

  • New lawyer silences bad-boy ex-pharma CEO Martin Shkreli Wednesday, 3 Feb 2016 | 11:32 AM ET

    NEW YORK— Bad-boy ex-pharmaceutical company CEO and prolific social media user Martin Shkreli has been muzzled. "We want to try this case in the courtroom and not in the media," defense attorney Benjamin Brafman said with a silent Shkreli at his side following a pretrial hearing in Brooklyn. Shkreli, 32, gained notoriety last year after a drug company he founded,...

  • LONDON, Feb 3- GlaxoSmithKline said on Wednesday the chance of it spinning off or selling its consumer health business before 2018 was "extraordinarily low," arguing the group's strategy was delivering, helped by rising sales of new medicines. Growing demand for recently launched HIV and respiratory drugs helped Britain's biggest drugmaker beat forecasts...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...

  • LONDON— British-based drugmaker GlaxoSmithKline posted a loss of 428 million pounds for the fourth quarter of 2015— compared with a profit of over 1 billion pounds for the same period a year earlier— as the company moved to integrate new businesses. Those deals included GSK's sale of its cancer-drug business to Novartis in a swap for the Swiss company's...

  • Merck revenue falls as dollar strengthens Wednesday, 3 Feb 2016 | 7:39 AM ET
    Merck KGaA is a German company in the chemical and pharmaceutical industry based in Darmstadt

    Merck reported a 2.5 percent fall in quarterly revenue, hurt by a strong dollar and declining sales of its Remicade arthritis treatment.

  • New drugs help GSK offset flagging Advair sales Wednesday, 3 Feb 2016 | 7:15 AM ET

    Growing demand for new drugs helped GlaxoSmithKline beat forecasts for earnings, offsetting a slide in sales of its older Advair respiratory medicine.

  • Drug store swept up in ‘sexist pricing’ storm Wednesday, 3 Feb 2016 | 7:10 AM ET
    Boots store

    U.K. drug store Boots has cut the prices on some of its products after it emerged it was charging women more than men for similar products.

  • Merck& Co. posted an 87 percent drop in fourth-quarter profit compared with last year when the drugmaker had a huge gain from the sale of consumer health business. It beat Wall Street profit forecasts, but came up short on revenue. "This is not business as usual, not in the U.S. and not globally," said analyst Steve Brozak, president of WBB Securities, adding, "Merck gets it."

  • LONDON, Feb 3- The world is once again asking scientists and drugmakers to come up rapidly with a vaccine for a viral disease that, in the latest case, few people had heard of until a few weeks ago, and even fewer feared. Making a shot to generate an immune response against Zika virus, which is sweeping through the Americas, shouldn't be too hard in theory.

  • *Assembles eight-person team to look into practicalities. *Will reach conclusion on how to proceed in next few weeks. LONDON, Feb 3- Japan's leading drugmaker Takeda Pharmaceutical is investigating ways in which it might help make a Zika vaccine, becoming the latest company to study vaccine options for the mosquito-borne disease sweeping the Americas.

  • Seven $1 billion-plus drugs seen reaching market in 2016 Wednesday, 3 Feb 2016 | 12:00 AM ET

    LONDON, Feb 3- Drug companies are likely to launch seven "blockbuster" drugs in 2016, each with $1 billion- plus annual sales potential, led by new treatments for liver disease and HIV, according to a Thomson Reuters analysis. The two top hits of 2016 are tipped to be Intercept Pharmaceuticals' chronic liver disease drug obeticholic acid, with a consensus sales...

  • GENEVA/ PARIS, Feb 2- The Zika virus could spread to Africa, Asia and southern Europe, the World Health Organization said on Tuesday, as major French drugmaker Sanofi SA and others joined the race to create a vaccine. A day after Geneva- based WHO declared an international public health emergency due to Zika's association with the birth defect microcephaly in...

  • LONDON, Feb 2- The world is once again asking scientists and drugmakers to come up rapidly with a vaccine for a viral disease that, in the latest case, few people had heard of until a few weeks ago, and even fewer feared. Making a shot to generate an immune response against Zika virus, which is sweeping through the Americas, shouldn't be too hard in theory.

  • Obama wants $1.1B more to fight opioid epidemic Tuesday, 2 Feb 2016 | 12:00 PM ET
    President Barack Obama answers questions from members of the audience during a community forum at the East End Family Resource Center in Charleston, W.Va., Wednesday, Oct. 21, 2015. Obama is in Charleston to lead a community discussion on prescription drug abuse and heroin epidemic.

    The money would augment more than $400 million in funds earmarked to fight heroin and painkiller abuse.

  • A congressional review of more than 300,000 pages from Turing Pharmaceuticals and Valeant Pharmaceuticals reveals how executives planned to maximize profits while fending off negative publicity over the price hikes. Elijah Cummings, D- Maryland, released the information Tuesday ahead of a hearing Thursday to examine exorbitant price spikes.

  • Feb 2- Hospital products and drug maker Baxter International Inc's quarterly revenue fell 7 percent, hurt by a strong dollar and increased generic competition for its chemotherapy treatment in the United States. Net income fell to $205 million, or 37 cents per share, for the fourth quarter ended Dec. 31 from $953 million, or $1.74 per share, a year earlier.