Connecticut Leads 20-State Lawsuit Over Drug Pricing
Drug Firm AstraZeneca Sees 3rd Quarter Earnings Fall 12 Pct
CVS Health’s 3Q Profit Jumps on Prescriptions, Omnicare
Embattled Valeant Reports 3Q Loss, Slashes Guidance
Cempra Shares Plummet Ahead of FDA Meeting on Antibiotic
Shares of drugmaker Cempra Inc. plunged this week after federal regulators raised concerns about potential liver toxicity risks with its closely watched experimental antibiotic. Wall Street analysts said the company’s drug could still reach the market but with major restrictions or a requirement for a large, follow-up safety study. That could present “significant additional financing risk” for…
Amgen Tops Street 3rd-Quarter Profit and Revenue Forecasts
THOUSAND OAKS, Calif. (AP) — Amgen Inc. on Thursday reported third-quarter net income of $2.02 billion. The Thousand Oaks, California-based company said it had profit of $2.68 per share. Earnings, adjusted for non-recurring costs, came to $3.02 per share. The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment…
WADA Signs Agreement with Japanese Drug Maker
TOKYO (AP) — The World Anti-Doping Agency has signed an agreement with Japanese drug maker Astellas Pharma Inc. to help fight doping in sports. Astellas will identify compounds it produces, including those in development, that could be abused by athletes and share the information with the agency to help find methods of detecting the substances. The company…
Alnylam Shares Plunge on Abandoned Study
NEW YORK (AP) — Alnylam Pharmaceuticals Inc. shares plunged by nearly half on Thursday after the company said it will stop development of a late-stage drug candidate because of potential safety issues. Alnylam Pharmaceuticals was developing revusiran as a treatment for a hereditary condition called ATTR amyloidosis, which can lead to nervous and cardiovascular conditions. The…
Danish Drug Maker Novo Nordisk to Lay Off 1,000 Employees
COPENHAGEN, Denmark (AP) — Danish drug maker Novo Nordisk says it plans to lay off some 1,000 employees globally to reduce operating costs because of “a challenging competitive environment, especially in its large U.S. market.” One of the world’s leading makers of diabetes medicines says half the job cuts are expected to be in Denmark. Copenhagen-based Novo Nordisk said…