An experimental heart drug from GlaxoSmithKline failed to work as hoped in the first part of a large clinical trial, the company said on Tuesday, dealing a blow to its pipeline of new medicines.   Losmapimod was being assessed as a treatment to reduce the risk of further cardiovascular problems after heart attacks, but it […]

The U.S. Food and Drug Administration on Thursday approved Merrimack Pharmaceutical Inc’s pancreatic cancer drug, Onivyde, with a severe safety warning. The company’s shares fell as much as 28 percent to a 13-month low of $7.27 in afternoon trade before halving the losses. Onivyde, in combination with chemotherapy treatments 5-fluorouracil and leucovorin, aims to treat […]

The U.S. Food and Drug Administration approved Relypsa Inc’s drug to treat potentially fatal levels of potassium in patients with chronic kidney disease or heart problems. The drug, Veltassa, is designed to treat hyperkalemia, a chronic condition characterized by excessive potassium levels in the blood that could lead to dangerous changes in heart rhythm. Relypsa’s […]

Staff reviewers of the U.S. Food and Drug Administration have raised questions about the safety of AstraZeneca Plc’s gout treatment. Reviewers pointed to higher death rates, cardiovascular issues and kidney-related side effects in patients who took the drug, lesinurad, a preliminary review published on Wednesday showed. Industry analysts forecast annual sales of the drug to […]

Abbott Laboratories Inc (ABT.N) reported better-than-expected quarterly sales as demand rose for its generic drugs in emerging markets, including Latin America and China. Abbott said on Wednesday sales of its generic drugs grew in double digits in emerging markets, helped by the acquisition of Chilean drugmaker CFR Pharmaceuticals SA last year. Sales of generic drugs […]

Cambridge, Mass.-based Biogen, Inc. (BIIB) announced today that it was restructuring, cutting 11 percent of its workforce, and slashing programs. In addition, the company announced that its Phase III ASCEND clinical trial of natalizumab for the treatment of secondary progressive multiple sclerosis (SPMS) failed to hit its primary and secondary endpoints. As part of the […]

Valeant Pharmaceuticals International Inc, which is under fire for massive price hikes of its two heart drugs, reported a better-than-expected quarterly profit, boosted mainly by strong performance in its U.S. dermatology business. Net income attributable to the company fell to $49.5 million, or 14 cents per share, for the third quarter ended Sept. 30, from […]

PTC Therapeutics Inc’s experimental muscle disorder drug failed to meet the main goal in a keenly watched late-stage study, but the company said data from all trials on the drug supported a U.S. marketing application. The company’s stock fell about 16 percent in extended trading on Thursday, before reversing course to notch marginally gains. PTC […]

Eli Lilly and Co’s experimental pill for rheumatoid arthritis proved superior to Abbvie Inc’s leading injectable Humira treatment in a large study, which analysts said could prod them to raise sales forecasts for the medicine. Lilly said on Wednesday it was the first study to show that a once-daily oral treatment was superior to $13 […]

Karmiel, Israel-based Protalix Biotherapeutics, Inc. (PLX) announced today that it was selling its share of a collaboration deal back to Pfizer Inc. (PFE)   Under the original deal, Pfizer took 60 percent and Protalix took 40 percent of revenues and expenses for the development and commercialization of ELELYSO, except in Israel and Brazil. Under the […]