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Stefan Borgas Fired as Lonza CEO
Drugs industry supplier Lonza Group ditched Chief Executive Stefan Borgas after profit last year plunged by a third and warned 2012 would pose further challenges because of a strong franc and problems at pharmaceutical firms. more22.11.2011India's Piramal to Boost Financial Business
Diversified Indian conglomerate Piramal Group plans to lend up to $193 million to real estate projects in the current fiscal year to March as it focuses on building its newly launched financial arm, its chairman said. The group also aims to set up a team by the end of March to look for opportunities to fund large projects such as power and road construction, sectors in which the government is hoping to rope in private-sector participation in a big way. more17.08.2011Abbott to Invest $230 Million in Chinese Facility
Abbott Laboratories announced that it will invest $230 million to build a state-of-the-art nutrition manufacturing facility in Jiaxing, China. The facility will manufacture premium powdered milk products for Chinese infants and children. The plant, when operational in 2013, will employ approximately 300 people. more
The World Of Biosimilars
Doubled-Edged Sword - The emergence of biosimilars has caused very large ripples in the biopharma pond, and has recently been called the most "disruptive technology" of the decade. True to a point, but dynamic change for some is usually accompanied by significant opportunity for others. This is the "double-edged sword" paradox of the biosimilars market.In simple terms, biosimilars are the biotech industry's version of chemical generics. more14.04.2011
Roche Seen Kicking off Q1 Season With Sales Drop
Roche is poised to kick off the Big Pharma reporting season with a drop in sales due to weaker demand for top-selling Avastin and flu drug Tamiflu and governments' drive to cut drug prices. U.S. regulators revoked Avastin's approval for use in treating breast cancer late last year after trials showed the drug failed to help patients live longer. European authorities have also limited use of the drug to treat this disease. more
Oracle’s Agile PLM Reorganizes Pharma, From Lab to Launch
Becoming Nimble - It's no secret that Big Pharma is facing some of the biggest changes in the history of the industry. The looming patent cliff is now forcing companies to reexamine the way they do business from the ground up: According to IDC Health Insights, between now and 2012, 19 of the industry's blockbuster drugs will come off patent, for approximately $60 billion in annual industry revenue. more23.12.2010Blood Glucose Testing Strips Recalled by Abbott
Abbott Laboratories is recalling as many as 359 million blood glucose testing strips that could give false results to diabetics, the company and U.S. regulators said on Wednesday. Abbott said the strips - used with its Precision Xtra, Precision Xceed Pro, MediSense Optium, Optium, OptiumEZ and ReliOn Ultima glucose monitoring systems - should not be used and would be replaced at no cost. more08.12.2010Abbott to Pay $121.5 Million in False Claims Settlement
Abbott Laboratories and two other drugmakers will pay $421 million to settle allegations that they falsely inflated product prices to gain larger government reimbursement payments, the U.S. Justice Department said on Tuesday. Abbott's share of the settlement is $126.5 million for violations of the False Claims Act involving pricing of two antibiotics and agents used to facilitate intravenous infusions of other drugs, the Justice Department said. more04.08.2010Sanofi's Best Bet Still May Be Smaller Deals
Sanofi-Aventis has grabbed the headlines with its $18.4 billion bid for Genzyme, but the French drugmaker may be wiser to stick with smaller, bolt-on acquisitions. Sanofi is trying to balance the need for new areas of growth and the loss of key drug patents with its desire to remain disciplined in its purchases. It might do well to review a Bain & Co study of 13 industries that found large acquisitions in the healthcare sector tended to erode value for acquirers. Only three sectors - industrials, transportation and technology - did worse, Bain found. more29.07.2010Solvay Q2 Operating Profit Jumps; Upbeat On Plastics
Belgium's Solvay, seeking acquisitions, rode rising plastics volumes to a 143% jump in quarterly operating profit from its plastics and chemicals units and said it expected plastics to remain strong. Second-quarter recurring earnings before interest and tax (REBIT) from Solvay's chemicals and plastics units was €194 million, beating the average estimate of €143 million from a Reuters poll. more- Legal
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