PFIZER TO MAKE $635MN ACQUISITION OF BAXTER’S VACCINES UNIT

Pfizer agreed on 30th July to buy Baxter’s vaccines unit and a part of a production facility for $635 million, Reuters reports. The deal will give Pfizer access to Baxter’s meningitis vaccine, NeisVac-C, and its encephalitis vaccine, FSME-IMMUN. Pfizer will also get access to a portion of Baxter’s facility in Austria where the vaccines are ...

MEDA TO ACQUIRE ROTTAPHARM FOR $3.1BN TO ADD OTC BRANDS

Meda, the Swedish drug maker that rejected a takeover approach from Mylan, has agreed to buy Italian family-owned pharma company Rottapharm Madaus for around SEK21.2 billion ($3.1 billion) to add consumer-health products, Bloomberg reports. The Rovati family, which controls all of Rottapharm, will receive SEK15.3 billion in cash, 30 million Meda shares valued at SEK3.3 ...

THIRD US APPROVAL FOR REGENERON’S EYELEA

US regulators have given the all clear for using Regeneron’s Eylea to treat Diabetic Macular Odema, a common complication of diabetes and a leading cause of vision loss among working age adults, pharmatimes.com reports. Approved with an eight-weekly dosing schedule (after five initial monthly shots), the move sees Eylea become the first VEGF inhibitor on ...

CELGENE MYELOMA DRUG FACES NEW NICE KNOCKBACK

The National Institute for Health and Clinical Excellence is consulting once again on the use of Celgene’s Revlimid (lenalidomide) in the treatment of multiple myeloma following one prior treatment with J&J’s Velcade (bortezomib), as it issued a second draft guidance not recommending it in this use, pharmatimes.com reports. Multiple myeloma is a blood cancer for ...

ASTRAZENECA RAISES FORECAST AS NEXIUM FEE BOOSTS PROFIT

AstraZeneca raised its forecast after reporting quarterly profit that beat analyst estimates, helped by a $200 million payment from one-time suitor Pfizer for rights to an OTC version of the Nexium heartburn treatment, Bloomberg reports. Profit excluding certain items declined one per cent to $2.03 billion, or $1.30 a share, from $2.05 billion, or $1.20 ...

SANOFI RAISES 2014 PROFIT FORECAST AS 2Q14 BEATS EXPECTATIONS

French drug maker Sanofi raised its full-year profit forecast 31st July along with a set of stronger than expected quarterly earnings driven by its rare disease and diabetes businesses and higher sales in emerging markets, Reuters reports. CEO Chris Viehbacher was upbeat on the company’s performance in the months ahead, with sales of vaccines seen ...

ACTIVIST INVESTOR AT TEVA CLAIMS VICTORY AS DIRECTORS PRESSURED

An activist investor calling for change at Teva said the result of a shareholder vote to reappoint all board members is a victory, and that the level of dissent shows the company will have to listen to stockholders, Bloomberg reports. Teva’s shareholders passed all measures that were up for approval at the company’s annual meeting ...

INDIA’S PIRAMAL, DUTCH APG TIE UP FOR $1BN INDIAN INFRASTRUCTURE INVESTMENT

India’s Piramal Enterprises has tied up with Dutch pension fund APG Asset Management to invest $1 billion in Indian infrastructure companies over three years, in a move that would help indebted firms access funds to complete projects, Reuters reports. A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and ...

RICHTER LOWERS 2014 PROFIT GUIDANCE AFTER RUSSIA-UKRAINE CRISIS

Hungarian drug maker Richter trimmed its operating profit margin guidance 31st July to 10-11 per cent of revenue from 11 per cent expected in May as a result of the crisis in Russia and Ukraine, two of its key markets, Reuters reports. CEO Erik Bogsch said Richter forecast revenues in Russia falling by 5-10 per ...

IMPAX LABS SLUMPS AFTER PROBLEMS WITH FDA INSPECTION

Shares of Impax sank 29th July after an FDA inspection uncovered potential problems at a facility where the company will make its experimental Parkinson’s disease drug Rytary, dddmag.com reports. Impax said the FDA inspected the manufacturing facility, which is in Taiwan, earlier this month. It said the agency had 10 “observations,” or issues it wants ...