German healthcare company Merck expects to get a long-term boost from study results in June that showed its main cancer drug Erbitux has an edge over rival product Avastin.
Erbitux, which accounted for roughly 8 % of Merck's €10.7 billion in sales last year, in June was shown to be more effective at prolonging the lives of colorectal cancer patients than Roche's Avastin.
Roche will halt development of a diabetes drug partly because of its undesired side-effects, marking another high-profile setback for the Swiss company as it struggles to diversify outside its core cancer drug portfolio.
The news is a fresh blow for Roche's Basel research operations, known as pRED, which have languished in the shadow of the work done at Genentech, the 2009 acquisition that cooked up Roche's four top-selling medicines in 2011.
Turning around drugmaker AstraZeneca will be a long haul, with a strategy of revamping research and boosting acquisitions set to take up to four years to pay off, its chief executive said on Tuesday.
A former Bristol-Myers Squibb finance executive on Monday pleaded guilty to an insider trading charge, admitting to buying stock options in a biotechnology company that the drugmaker was preparing to buy.
Robert Ramnarine, 46, admitted to one count of securities fraud for trading in Amylin Pharmaceuticals options before Bristol-Myers agreed to buy that company last June for $5.3 billion, U.S. Attorney Paul Fishman in New Jersey said.
In a leafy suburb of Frankfurt, a state-of-the-art plant churns out up to 1 million insulin pens every day in French drugmaker Sanofi's drive to keep its no. 2 spot in the $43 billion-a-year diabetes market.
The facility is part of a hub - nicknamed Insulin City - dedicated to research and development, production, and smart technology for diabetes treatments that Sanofi says will help drive its growth as older blockbusters lose patent protection.
Inspired by its success in high-tech electronics and software, Israel is hoping to pull off the same trick in life sciences.
The Mediterranean country already boasts the world's biggest generic drug maker and a host of smaller research-oriented companies.
Now it aims to build on that foundation, offering incentives to multinationals to invest in a biopharmaceutical incubator fund, set up research centres and collaborate with local firms.
Eli Lilly, the world's fourth-largest diabetes drugs maker, aims to have the widest range of anti diabetic drugs in order to win a larger slice in the growing market.
The global $40 billion diabetes drugs market could be worth as much as $53 billion in 2016, making it the second-largest therapeutic area by sales in the pharmaceuticals industry after cancer, according to market research IMS.
U.S. drugmaker Bristol-Myers Squibb said on Sunday it has named Francis Cuss to become its next chief scientific officer after Elliott Sigal retires as head of research and development on June 30.
India's top court dismissed Swiss drugmaker Novartis's attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.
Global drugmakers, battered by recent intellectual property decisions in India, are girding for a landmark court ruling next week that could have broad consequences for their ability to sell lucrative patented medicines in the country.