Biotech and Pharmaceuticals Pharmaceuticals

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  • Valeant Pharmaceuticals resolved its default on some of its $30 billion in debt by finally filing its long-overdue U.S. financial report for 2015 on Friday. The moves briefly nudged up Valeant's battered shares, but they quickly headed south amid a broader market sell-off and the realization that the former Wall Street darling's future is still in question.

  • April 29- Medivation Inc said on Friday its board rejected an unsolicited $9.3 billion takeover proposal from Sanofi SA, saying the offer undervalued the company and its pipeline of oncology drugs. The French drugmaker went public with its $52.50 per share cash offer on Thursday. Medivation's shares were trading at $56.41 before market open on Friday.

  • April 29- Beleaguered Canadian drugmaker Valeant Pharmaceuticals International Inc filed its annual report on Friday, which will help it stave of a default on its $30 billion debt. The company said it was in compliance with its credit agreement and senior note indentures. Valeant said no additional restatements were required beyond those previously...

  • LONDON, April 29- Strong demand for hyperactivity treatment Vyvanse helped lift first-quarter earnings 12 percent at Shire, the London- listed drugmaker that is buying U.S. rare diseases firm Baxalta for $32 billion. Quarterly non-GAAP earnings per share of $3.19 on revenue up 17 percent to $1.71 billion compared with analysts' consensus forecasts of $3.05...

  • *Won't be drawn on potential to sweeten $9.3 bln offer. PARIS, April 29- Sanofi, which reported higher quarterly profit on Friday boosted by its Genzyme division, is confident Medivation shareholders will back its proposed takeover of the U.S. cancer drug company. "We are confident that Medivation shareholders will ultimately share our strong belief that our...

  • LONDON, April 29- An antiseptic gel to stop umbilical cord infections in newborn babies was recommended as safe and effective by European regulators on Friday in a boost for GlaxoSmithKline scientists who developed it from a mouthwash. The British drugmaker, which worked on the product with the Save the Children charity, won't make any money from the...

  • LONDON— Anglo-Swedish drugmaker AstraZeneca says first-quarter earnings fell 12 percent as it announced plans to cut costs so it can devote more resources to cancer drugs. AstraZeneca said Friday that income increased to $646 million from $550 million. AstraZeneca also says it plans to cuts costs by about $1.1 billion over the next two years as the company...

  • Jesper Brandgaard, CFO of Novo Nordisk, discusses the pharmaceutical company's earnings results and the impact of the declining dollar.

  • Biotech drugmaker Gilead Sciences said its results were hurt by big discounts and rebates on its costly hepatitis C medicines, and its stock lost $8.52, or 8.8 percent, to $88.48. Rival biotech giant Amgen reported relatively solid results, but fell $2.59, or 1.6 percent, to $157.97. Health insurer Molina Healthcare slashed its full-year guidance because of...

  • *China healthcare deals tripled to more than $50 bln. *Impact of Beijing push for' Made in China' drug sector. SHANGHAI, April 29- Armed with Beijing funds and friends in the right places, Chinese drug minnows are thriving, luring money from' Big Pharma' majors struggling to restore the strong growth they once enjoyed in the world's second-largest medicine market.

  • Sales of hepatitis C drugs Sovaldi and Harvoni, the company's second generation hepatitis treatment, totaled $4.29 billion, which was short of the $4.63 billion average Wall Street estimate, as compiled by ISI Evercore. "The hep C numbers are a little light in the USA and that could be due to higher rebating and more competition," said RBC Capital Markets analyst...

  • April 28- Gilead Sciences Inc's first quarter net profit fell 18 percent as hepatitis C drug sales missed Wall Street estimates, with pricing pressure leading to lower U.S. sales of hepatitis treatment Harvoni. Sales of hepatitis C drugs Sovaldi and Harvoni totaled $4.29 billion, which was short of the $4.63 billion average Wall Street estimate, as compiled by...

  • Gilead Sciences Inc

    Analysts expected Gilead to report earnings of about $3.15 a share on $8.12 billion in revenue, according to a consensus estimate from Thomson Reuters.

  • WASHINGTON— Gilead Science Inc.' s earnings tumbled more than 17 percent in the first quarter as steeper discounts and rebates on its blockbuster hepatitis C drugs cut into sales. Gilead attributed the decline to discounts given to private insurers and higher rebates for patients in government-run health plans like Medicaid. That was below the average...

  • A screen displays the share price for pharmaceutical maker AbbVie on the floor of the New York Stock Exchange.

    Drugmaker AbbVie said it would buy privately held oncology company Stemcentrx in a deal valued at $5.8 billion in cash and stock.

  • Just weeks after the collapse of Pfizer's controversial deal to buy fellow drugmaker Allergan and move its headquarters to Ireland, company executives faced sharp criticism from shareholders at their annual meeting. Rules issued by the U.S. Treasury Department on April 5 eliminated most of the Allergan deal's financial incentives and forced New York-...

  • Michael Neidorff, Centene

    UnitedHealth is pulling out of most state health-care exchanges, but Centene is benefiting from Medicaid expansion.

  • Pharmacy

    The pharmacy benefits manager is looking to partner with retail pharmacies that do the best job at keeping diabetes patients healthy.

  • COLUMBUS, Ohio— The state attorney general says Ohio's Medicaid program will get nearly $25 million from drugmaker Pfizer Inc.' s payments to resolve allegations that one of its companies didn't give Medicaid the same discounts it provided to private buyers of a heartburn treatment. The deal finalized Wednesday centers on Wyeth's practices related to...

  • Sen. Collins: Valeant's pricing problem

    Sen. Susan Collins, (R-Maine), discusses Valeant's drug pricing practices and why the company was brought before Congress for testimony.