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Teva-Allergan Deal Underscores Generics Market Consolidation with 90% of US Buying Generic Pills from A Single Company

August 5, 2015By Mark Terry, BioSpace.com Breaking News Staff At least one estimate has this year’s total of biopharma deals at $224 billion—so far. One particularly hot area is in the generics market, marked by Israel-based Teva Pharmaceutical Industries Ltd. (TEVA)’s acquisition of Allergan plc (AGN)’s generic drug business for $40.5 billion in late July. […]

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Mallinckrodt Profit Surges as Acquisitions Drive Sales

Pharmaceutical company Mallinckrodt PLC said its profit soared in the latest quarter as the company’s specialty brand sales continue to benefit from recent acquisitions. But overall sales missed analysts’ lofty expectations, and shares slid 10.4% in midday trading—hitting a six-month low and giving up nearly half of the stock’s gain this year. In March, the […]

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Regeneron raises Eylea sales forecast, shares at record

Regeneron Inc’s blockbuster eye drug, Eylea, showed no signs of a slowdown as the drugmaker raised the full-year sales forecast for its flagship product above at least four analysts’ expectation. The company’s shares rose to a record of $605.93 in early trading on Tuesday. U.S. sales of Eylea surged 58 percent to $655 million in […]

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AstraZeneca Halts Three Clinical Trial Programs, Reports Six Quarters of Top-line Growth

At the very end of its 2015 half-year financial report, on page 49, AstraZeneca PLC (AZN) noted the termination of three projects between April 1 and June 30. They were a program for selumetinib for uveal melanoma, tenapanor for ESRD-pi/CKD with T2DM and Nexium for refractory reflux esophagitis. The selumetinib and tenapanor programs were halted […]

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Watch Out Gilead, Investors Feel Vertex May Be Biogen’s Good Fit

July 31, 2015By Alex Keown, BioSpace.com Breaking News Staff CAMBRIDGE, Mass. – A Bloomberg survey of 30 investors indicates Biogen (BIIB) needs to enter the M&A fray sooner than expected in order to boost revenue, the business site reported this morning. Asthika Goonewardene, a health-care analyst for Bloomberg Intelligence, said the Boston-based drugmaker should acquire […]

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Amgen Raises 2015 Outlook, Results Beat Expectations

Amgen Inc. raised its 2015 guidance after reporting that its second-quarter earnings rose 6.9% on better-than-expected sales growth and lower operating expenses. For the year, the biotechnology company now expects per-share earnings of $9.55 to $9.80 and revenue of $21.1 billion to $21.4 billion, compared with its previously boosted estimate for per-share profit of $9.35 […]

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Health insurer Cigna says second-quarter medical costs stay low; profit beats

Health insurer Cigna Corp, which agreed last week to be bought by Anthem Inc for $47 billion, said on Thursday that medical services use was low in the second quarter, helping to keep costs in check and beat Wall Street profit estimates. Cigna’s report of a continued low utilization trend backs up a growing industry […]

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Teva’s MS drug Copaxone has strong second-quarter sales

Teva Pharmaceutical Industries (TEVA.N), which this week revealed plans to buy Allergan’s (AGN.N) generics drugs business in a $40.5 billion deal, said on Thursday sales of its branded multiple sclerosis drug Copaxone rose 12 percent in the second quarter even though it faces new competition. Teva, the world’s biggest generic drug maker, said that global […]

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Sanofi’s diabetes sales slow, Genzyme’s jump

* Q2 Business net income up 4.2 percent, above expectations * Analyst says Toujeo sales “underwhelming” * CEO Brandicourt to unveil strategic plan on Nov.6, open to M&A * Shares down 0.45 percent (Adds details, shares, comments) By Matthias Blamont and Noëlle Mennella PARIS, July 30 (Reuters) – Sanofi reported lower second quarter sales for […]

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AstraZeneca Boosted by Licensing Deals

By Denise Roland The Wall Street Journal Biography @deniseroland denise.roland@wsj.com Updated July 30, 2015 7:51 a.m. ET AstraZeneca PLC on Thursday reported an increase in second-quarter revenue, thanks to proceeds from licensing deals, though profits continued to fall as the company plowed heavy investment into new drugs it hopes will replace its old blockbusters. The […]

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