Pharmaceutical Processing

A former information technology (IT) executive at Mylan today pleaded guilty to conspiracy to commit securities fraud and aiding in the preparation of a false tax return. Dayakar Mallu, who at the time of the fraud served as VP of global operations information technology at Mylan, admitted to the charges in court in the Western…

The Biden administration reportedly plans to purchase and share with the world hundreds of millions of doses of Pfizer’s COVID-19 vaccine. The Washington Post reported today that the U.S. has plans to make another large purchase of COVID-19 vaccines, although details of the deal have not been made clear. Neither the White House nor Pfizer…

Catalent announced today that it entered into a commercial supply agreement with Phathom Pharmaceuticals for its acid blocker. The commercial supply agreement covers Phathom’s lead compound, vonoprazan, which is a novel, orally active-potassium competitive acid blocker (P-CAB) for treating gastrointestinal diseases, according to a news release. Phathom currently has vonoprazan in late clinical-stage development for…

Cardinal Health’s board of directors reduced bonus payouts for CEO Mike Kaufmann and his four top-paid executives due to the cost of opioid litigation. After pressure from investors, Cardinal Health (NYSE:CAH) for the first time has disclosed how its board of directors factored the opioid litigation settlement costs into the pay packages of Kaufmann, Chief…

Bausch Health (NYSE/TSX:BHC), formerly known as Valeant Pharmaceuticals, has agreed to pay $300 million to settle allegations that the company paid rivals to keep a generic version of Glumetza off the market. In 2015, the Laval, Canada–based company increased the drug’s price by almost eight-fold. The plaintiffs, drug distributor companies, in the class-action suit filed…

Eli Lilly and Company (NYSE: LLY) has announced its plan to issue €600 million in aggregate principal in the amount of 0.50% notes with 12-year maturity as part of its Environmental, Social and Governance (ESG) strategy. In May, the company announced that it had updated its Environmental, Social and Governance (ESG) strategy, bolstering its investment…

While mRNA vaccines from Moderna (NSDQ:MRNA) and Pfizer (NYSE:PFE) had 95% efficacy in Phase 3 clinical trials, their effectiveness in the real world has dropped with the rise of the Delta variant.  As a result, breakthrough infections have grown more common in people who have received two doses of mRNA vaccines. Ultimately, full vaccination may require…

Purdue Pharma may have reached a bankruptcy settlement in the U.S. Bankruptcy Court in White Plains, New York, but several states intend to press forward by appealing the decision of Judge Robert Drain.  Judge Drain’s decision would direct $4.5 billion over a decade to support measures intended to fight the opioid crisis. “Substantially all of…

Catalent (NYSE:CTLT) has been on something of a spending spree during the pandemic. Looking to bolster its nutraceutical business, the company announced it would acquire Plano, Texas–based Bettera Holdings LLC for $1 billion. Bettera specializes in gummy, soft chew and lozenge products within nutritional supplements. Also this year, Catalent has acquired RheinCell Therapeutics, which develops induced…

Pfizer Inc. (NYSE: PFE) has hired McKinsey (New York City) veteran Aamir Malik as executive vice president and chief business innovation officer. Malik had worked at the consulting giant for 24 years. He supported New York–based McKinsey’s healthcare business in the U.S., Europe, Asia and Latin America and most recently worked as the managing partner…