Biotech and Pharmaceuticals Pharmaceuticals

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  • PARIS— Drugmaker Sanofi Pasteur said Tuesday it is launching an effort to research and develop a vaccine to prevent the Zika virus, after the World Health Organization declared a global emergency over its explosive spread across the Americas. Sanofi made the first dengue vaccine shot, licensed last year in Brazil after years of scientific struggle to develop...

  • NEW YORK, Feb 2- The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. Drugmaker Eli Lilly is holding its capex budget flat and Verizon Communications Inc said it plans to cut its budget from $17.8 billion, to between $17.2 and $17.7 billion. "I think companies are going to be lean...

  • LONDON, Feb 2- Index Ventures, an early investor in technology hits like Skype and Dropbox, is spinning off its biotech portfolio into a new $1 billion business, with backing from drug giants GlaxoSmithKline and Johnson& Johnson. The new Medicxi Ventures business will be led by the existing life sciences team from Index Ventures and includes all the current...

  • ZURICH, Feb 1- India's Sun Pharma launched a generic version of Novartis's leukaemia drug Gleevec on Monday in the United States and hopes to poach a third of sales in six months by pricing the copycat some 30 percent cheaper, its Sun's North American chief executive said. Gleevec, or imatinib mesylate, costs up to about $90,000 annually in the United States,...

  • Privately owned, Connecticut- based Purdue had sued Teva, Amneal Pharmaceuticals and Epic Pharma after they sought approval from the U.S. Food and Drug Administration to make generic OxyContin. Purdue said in a statement that it was reviewing the decision and considering what to do next. "Despite the court's ruling, Purdue has several other patents protecting...

  • Drugmaker Abbott to buy Alere for $5.8B Monday, 1 Feb 2016 | 10:19 AM ET
    Employees walk near an Abbott Laboratories sign at the company's headquarters complex in Abbott Park, Illinois.

    Drugmaker Abbott Laboratories said it would acquire Alere for $5.8 billion to boost its global diagnostics presence.

  • Feb 1- Drugmaker Abbott Laboratories said it would buy Alere Inc for $5.8 billion to boost its global diagnostics business and enter into new markets. Abbott will pay $56 per share in cash, a premium of about 51 percent to Alere's Friday closing of $37.20. Abbott, which had total annual sales of $20.4 billion in 2015, said its total diagnostics sales would exceed $7...

  • REFILE-Drugmaker Abbott to buy Alere for $5.8 bln Monday, 1 Feb 2016 | 8:12 AM ET

    Feb 1- Drugmaker Abbott Laboratories said it would acquire Alere Inc for $5.8 billion to boost its global diagnostics presence.

  • Durgmaker Abbott to buy Alere for $5.8 bln Monday, 1 Feb 2016 | 8:10 AM ET

    Feb 1- Drugmaker Abbott Laboratories said it would acquire Alere Inc for $5.8 billion to boost its global diagnostics presence.

  • NEW YORK, Jan 29- Express Scripts Holding Co, the U.S. No. 1 pharmacy benefits manager, said on Friday it would stop covering Glumetza, a diabetes drug made by Valeant Pharmaceuticals International Inc, after a generic competitor enters the market on Feb. 1. Pharmacy benefit managers typically exclude branded products when a generic competitor hits the market,...

  • FACTBOX-Race to develop Zika vaccine Friday, 29 Jan 2016 | 1:44 PM ET

    Jan 29- Drugmakers globally are racing to produce a vaccine for Zika, a mosquito-borne virus that has been linked to severe birth defects. The World Health Organization has warned the disease is spreading explosively through the Americas. But, companies and scientists have made clear that a vaccine for public use is, at the very least, some months away.

  • REFILE-COLUMN-Why millennials want to quit their jobs Friday, 29 Jan 2016 | 11:31 AM ET

    NEW YORK, Jan 29- Twenty-eight year old Margaret Davis was making nice money as a writer in the legal department of a big pharmaceutical company in New York. She liked her coworkers and enjoyed the job on a day-to-day basis- except it was not going anywhere. Davis is not alone. Sixty percent of millennials, ages 22-32, have changed jobs between one and four times in the...

  • Led by Chief Executive Gualtiero Pasquarelli, Doc Generici ranks as one the leading suppliers of cheap generic drugs in Italy and competes with international players such as Teva and Sandoz, part of Swiss drugmaker Novartis. The London- based private equity house wants to cash out before a new wave of patent expirations takes place in Italy in 2017, hoping to...

  • Gilead Sciences names Milligan new CEO Friday, 29 Jan 2016 | 10:00 AM ET
    Gilead Sciences names Milligan new CEO

    The biotech giant says the company’s current president and chief operating officer will be promoted to CEO.

  • Global sales of AbbVie's arthritis treatment Humira jumped 10.5 percent to $3.72 billion, even as a stronger dollar crimped sales by 13 percent in markets outside the United States. Still, sales of both products came in slightly below Wall Street analysts' forecasts, raising questions about the sustainability of AbbVie's key products, Credit Suisse analyst...

  • COLUMN-Why millennials want to quit their jobs Friday, 29 Jan 2016 | 9:00 AM ET

    NEW YORK, Jan 29- Twenty-eight year old Margaret Davis was making nice money as a writer in the legal department of a big pharmaceutical company in New York. She liked her coworkers and enjoyed the job on a day-to-day basis- except it was not going anywhere. Davis is not alone. Sixty percent of millennials, ages 22-32, have changed jobs between one and four times in the...

  • Rep. Chaffetz addresses drug pricing and competition Friday, 29 Jan 2016 | 8:47 AM ET
    Rep. Chaffetz addresses drug pricing and competition

    Rep. Jason Chaffetz, Chairman, (R- Utah), discusses his concerns about drug pricing controls ahead of the upcoming Congressional hearing.

  • Gilead names Milligan as new CEO Friday, 29 Jan 2016 | 8:18 AM ET
    A scientist at Gilead Sciences analyzes patient antibody levels at the Gilead laboratory in Foster City, Calif.

    Gilead Sciences on Friday that John Milligan, currently president and chief operating officer, will be promoted to CEO and appointed to the board of directors.

  • The company's shares fell 4.82 percent to $53.50 in premarket trading. The company posted a net profit of $1.52 billion, or 92 cents per share, in the fourth quarter ended Dec. 31, compared with a loss of $810 million, or 51 cents per share, a year earlier. Adjusted revenue rose to $6.36 billion, below the average analyst estimate of $6.39 billion.

  • Drugmaker AbbVie reports higher quarterly revenue Friday, 29 Jan 2016 | 7:53 AM ET

    Jan 29- Drugmaker AbbVie Inc reported a 17.4 percent jump in quarterly revenue, driven by higher sales of its arthritis drug, Humira. The company posted a net profit of $1.52 billion, or 92 cents per share, in the fourth quarter ended Dec. 31, compared with a loss of $810 million, or 51 cents per share, a year earlier. Revenue rose to $6.40 billion from $5.45 billion.