Chairman of the House Oversight Committee Rep. Elijah Cummings (D-MD) launched an investigation today into the drug pricing practices of 12 pharmaceutical companies. A number of companies named in the investigation saw their stock prices fall, including Amgen (NSDQ:AMGN), AbbVie (NYSE:ABBV), AstraZeneca (NYSE:AZN), Eli Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO). A hearing is reportedly set for Jan. 29 and will include patients affected by rising […]
AbbVie
EU approves fifth biosimilar for blockbuster Humira drug
Mylan (NSDQ:MYL) and Fujifilm Kyowa Kirin Biologics said today that the European Commission gave the companies marketing authorization for Hulio, a biosimilar to AbbVie‘s (NYSE:ABBV) billion-dollar Humira product. Mylan said it plans to launch Hulio across particular markets in Europe on or after Oct. 16. The drug is the fifth product authorized by the EC as a biosimilar for […]
Cerveau inks licensing deal with AbbVie for tau imaging agent
Cerveau Technologies has inked a deal to license and supply AbbVie (NYSE:ABBV) with its [F-18]MK-6240 investigational tau imaging agent, the company said today. After the FDA cleared the investigational new drug application for Cerveau’s imaging agent in June, the company said it planned to work with pharmaceutical partners to evaluate the product’s use in positron emission tomography scans to assess […]
Report finds pharma companies limited January list price hikes
Drug-makers didn’t raise list prices for as many drugs in January compared to last year and they initiated fewer hikes of 10% or more, according to analysis by Raymond James & Associates. Although 5.5% of price increases reached the 10% level in January this year, 15% did last year and 20% did 2 years ago. […]
Baxalta wants Shire to boost $30B takeover bid
(Reuters) — Baxalta (NYSE:BXLT), the spinout of Baxter‘s (NYSE:BAX) biopharmaceuticals division, wants Shire (NSDQ:SHPGY) to improve on its $30 billion bid significantly before it will engage in talks, while its Dublin-based rival could sweeten its offer if it gets to see the U.S. biotech company’s books, according to sources on both sides. Both camps are pushing hard behind […]
Analyst speculates Smith & Nephew split | Medtech Wall Street news for the week of Mar. 31, 2014
Baxter reveals plans to split pharma, medical products businesses
Abbott’s Q4, 2013 earnings meet The Street
Report: Abbott pharma spinout expects layoffs
Abbott profits sink on 1-time charges in final months before the split
Post-split Abbott announces FDA win for Xience Xpedition stent
Abbott (NYSE:ABT) announced FDA approval for its Xience Xpedition coronary stent, planning commercial launch in the U.S. immediately.
Abbott’s Xience line of drug-eluting stents are the only such devices on the U.S. market approved for "direct stenting," in which the stent is delivered to the targeted blood vessel without a prior procedure preparing the lesion.