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U.S. approves first drug for psychosis linked to Parkinson’s

Acadia Pharmaceuticals Inc’s drug for psychosis linked to Parkinson’s disease was approved in the United States on Friday, becoming the first treatment for the condition to get a nod in the country. The U.S. Food and Drug Administration, however, asked Acadia to include a black-box warning, its strictest warning, on the drug’s label for an […]

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Gadavist approved as first contrast agent for MRA use of supra-aortic arteries

Bayer announced U.S. FDA approval of Gadavist (gadobutrol) injection for use with magnetic resonance angiography to evaluate known or suspected supra-aortic or renal artery disease.

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Shire jumps as Vyvanse drug helps it to beat earnings forecast

Strong demand for Shire’s top-selling Vyvanse drug helped to lift the company’s first-quarter earnings by better-than-expected 12 percent.

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Abbott Tries to Back Out of $5.8B Alere Deal, But Alere Says It’s Still On

The announcement that Abbott was acquiring St. Jude Medical for about $25 million cast doubts on Abbott’s acquisition of Alere for $5.8 billion.

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Biogen, AbbVie multiple sclerosis drug wins EU green light

A once-monthly injection for multiple sclerosis from Biogen and AbbVie has been recommended for approval by European regulators, paving the way for its launch in the coming months.   The European Medicines Agency said on Friday its experts had endorsed Zinbryta, or daclizumab, for the treatment of relapsing forms of multiple sclerosis (MS), adding a […]

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Medivation Says No! to Sanofi’s $9.3 Billion Hostile Bid

\   April 29, 2016By Mark Terry, BioSpace.com Breaking News Staff   San Francisco-based Medivation (MDVN) announced today that its board of directors had unanimously decided to reject Sanofi’s unsolicited bid for the company. On March 25 and April 3, Olivier Brandicourt, chief executive officer of Sanofi (SNY), discussed on the phone with David Hung, […]

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FDA Sued for Not Disclosing More Info on the Experts Determining the Fate of Drugs and Devices

  April 29, 2016 By Alex Keown, BioSpace.com Breaking News Staff   WASHINGTON – A consumer group, the Public Citizen Foundation, Inc., filed a lawsuit against the U.S. Food and Drug Administration and the U.S. Department of Health and Human Services to force the agencies to disclose more information about the people on advisory committees […]

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AstraZeneca cuts costs and doubles down on cancer drugs

AstraZeneca is to cut costs by $1 billion and increase its focus on cancer treatments after underlying earnings, hit by drug patent expiries, fell 12 percent in the first quarter, broadly in line with analyst expectations.   Chief Executive Pascal Soriot said on Friday he would sharpen the prioritization of investments and increase spending in […]

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Sanofi launches $9.3 billion fight for U.S. cancer firm Medivation

French drugmaker Sanofi went public with a $9.3 billion offer to buy Medivation, setting up what could be a lengthy takeover battle after the U.S. cancer firm rebuffed its approaches.

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Diabetes drug test results boost Novo Nordisk

Novo Nordisk said on Thursday a late-stage trial showed its new once-weekly diabetes drug significantly reduced patients’ cardiovascular risks, boosting the company’s hopes of maintaining its lead in the fast-growing diabetes market.   Shares in the Danish drugmaker rose as much as 3.5 percent on the news. The trial, dubbed SUSTAIN 6, showed the drug […]

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Parasitic worms may hold key to cutting spread of HIV: researchers

LONDON (Thomson Reuters Foundation) – A parasitic worm which affects millions of the world’s poorest people may hold an important but little-known key to cutting the spread of HIV, researchers said ahead of a conference on the issue in London. Schistosomiasis affects at least 250 million people. It is caused by parasitic worms, picked up […]

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Valeant’s New CEO Will Make Over $500 Million if Stock Hits $270 By 2020

April 28, 2016 By Alex Keown, BioSpace.com Breaking News Staff   LAVAL, Quebec – If Joseph Papa is able to drive Valeant Pharmaceuticals (VRX)’ stock back to the heights it enjoyed last summer by 2020, he will become a very rich man. Papa, who was tapped to succeed the ousted Michael Pearson as chief executive […]

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Abbott To Merge With St. Jude Medical, Creating Medical Device Leader

Abbott Park, Ill.-based Abbott announced that it is acquiring St. Paul, Minn.-based St. Jude Medical for about $25 billion.

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AbbVie Pays $5.8 Billion+ for Bay Area’s Stemcentrx

North Chicago, Ill.-based AbbVie announced that it is acquiring South San Francisco-based Stemcentrx for $5.8 billion.

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Sanofi US Collaborates with Duke University and Massachusetts General Hospital on Big Data and Type 2 Diabetes

BRIDGEWATER, N.J., April 27, 2016 /PRNewswire/ — Sanofi US announced today collaborations with the Duke Clinical Research Institute (DCRI) and, separately, with the Center for Assessment Technology and Continuous Health (CATCH) at Massachusetts General Hospital. The collaborations are designed to create new tools that will help predict how people living with type 2 diabetes adhere […]

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Pfizer to pay $784.6 million to resolve Wyeth false claims lawsuit

Pfizer has agreed to pay $784.6 million to resolve allegations that Wyeth, which it acquired in 2009, underpaid drug rebates to Medicaid.

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UBS, MPM team up on $471 million cancer fund to speed drug development

A $471 million UBS venture fund aims to generate annual returns “north of 10 percent” for its European and Asian investors by financing new cancer drugs.

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House Speaker Ryan: All options open on Zika funding

House Speaker Paul Ryan on Wednesday said there are a range of options to provide funds to fight Zika, adding that lawmakers take the threat seriously but have not yet decided the best way to allocate resources to prevent and combat the deadly virus.   “We’re looking at all different options,” adding that the White […]

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GlaxoSmithKline rebound gathering pace, says outgoing CEO

Improving margins and growing demand for new drugs lifted GlaxoSmithKline’s underlying earnings a better-than-expected 14 percent in the first quarter.

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Biogen Poaches Star Pfizer Scientist as New R&D Chief

April 27, 2016 By Alex Keown, BioSpace.com Breaking News Staff   CAMBRIDGE, Mass. — Biogen Inc. (BIIB) poached Pfizer (PFE)’s Michael Ehlers as the company’s new executive vice president of research and development, the company announced this morning. Ehlers will oversee the company’s global research, drug discovery, clinical development and medical affairs functions, Biogen said. […]

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