Shares in Pfizer (NYSE:PFE) remained steady today after the pharmaceutical company missed expectations on Wall Street with its 4th quarter results. The U.S. pharma giant posted profits of $775 million, or 13¢ per share, for the 3 months ended December 31, 2016, compared to a bottom-line loss of $172 million in the same period last year. Pfizer also reported revenues of $13.63 billion, a […]
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HHS nominee Price to deal healthcare stocks, including ZBH
President-elect Donald Trump’s pick for secretary of Health and Human Services, Dr. Thomas Price, said yesterday that he will sell his individual stock holdings if he is confirmed as a member of the cabinet to avoid any conflicts of interest. Price is a Republican congressman from Georgia, an orthopedic surgeon and an active investor in stocks […]
Pfizer agrees to $100m haircut in Hospira infusion sale to ICU Medical
Pfizer (NYSE:PFE) has agreed to take a $100 million hit on its previously $1 billion sale of its Hospira infusion pump business to ICU Medical (NSDQ:ICUI), bringing in approximately $900 million. The revised deal calls for ICU Medical to offer 3.2 million new shares, or $419.3 million, and $275 million in cash, along with an additional possible […]
Artificial leaf produces drugs using solar energy
Researchers from the Eindhoven University of Technology have reportedly developed a leaf-inspired mini-factory to produce drugs using solar energy. The team’s work could allow medicine to be made in resource-deprived areas, as long as there is sunlight. “Theoretically, you could use this device to make drug compounds with solar energy anywhere you want,” lead researcher […]
Draper, Pfizer ink ‘organ-on-a-chip’ deal
Draper said today that it inked a 3-year collaboration deal with Pfizer (NYSE:PFE) to develop Draper’s microphysiological system technology. The ‘organ-on-a-chip’ system is designed to improve preclinical safety and model diseases more effectively. The Cambridge, Mass.-based company’s miniature organ model enables researchers to measure tissue function and test potential new drug candidates. Draper and Pfizer will collaborate […]
UK slaps Pfizer with record $107m fine over price hikes
The Competition and Markets Authority reportedly fined Pfizer (NYSE:PFE) and Flynn Pharma a record amount for the companies’ massive price hikes to its unbranded versions of the anti-epilepsy drug, Epanutin. The British competition watchdog fined Pfizer and Flynn Pharma $107 million (£84.2 million) and $6.5 million (£5.2 million), respectively. New York City-based Pfizer used to market the anti-epilepsy […]
Pharma execs assess landscape under President Trump
Executives from U.S. drugmakers such as Regeneron Pharmaceuticals (NSDQ:REGN) and Pfizer (NYSE:PFE) talked about the possible changes awaiting the industry under President-elect Donald Trump at the Forbes Healthcare Summit this week. After he was elected, pharmaceutical stocks surged as investors concluded the threat of action on drug pricing had lessened. Trump has said he wants […]
ICU Medical to pay Pfizer $1B for Hospira infusion pump biz
ICU Medical (NSDQ:ICUI) agreed to pay $1 billion in cash and stock for the Hospira infusion pump business owned by Pfizer (NYSE:PFE), confirming rumors that swirled earlier this year that the drug giant was looking to sell the business. The deal calls for ICU Medical to put up $400 million worth of new shares and $600 million in […]
Adhezion Biomedical, Pfizer ink long-term supply deal
Adhezion Biomedical announced today that it inked a long-term supply deal with Pfizer (NYSE:PFE) for exclusive U.S. distribution rights for Adhezion’s topical skin adhesives. The Wyomissing, Pa.-based medical device company has a product family of 2-octyl cyanoacrylate adhesives designed to hold the edges of skin wounds together, for use after minimally invasive surgery and simple […]
ResMed shuffles the deck at Brightree; taps Mellott as new CEO | Personnel Moves June 21, 2016
ResMed shuffles the deck at Brightree; taps Mellott as new CEO ResMed (NYSE:RMD) yesterday announced a mix-up at its Brightree business, tapping home medical equipment industry vet Matt Mellott as its new CEO and Bobby Ghoshal as its new COO. Former Brightree CEO and prez Dave Cormack will transition into a multi-year advisory role, the company […]
Fresenius, Smiths in the hunt for Pfizer’s $1.5B infusion pump biz
Germany’s Fresenius (NYSE:FMS) and Britain’s Smiths Group (LON:SMIN) have emerged as the final bidders for Pfizer‘s (NYSE:PFE) infusion pump business, inherited via the Big Pharma’s September 2015 purchase of Hospira for $15 billion. The winning bid is expected to be around $1.5 billion, according to Reuters. Private equity firm Pamplona Capital Management was also interested and reportedly made a […]