Days after agreeing to pay nearly $225 million in additional fines to the U.S. government for fraudulent marketing schemes to boost sales of the opioid Subsys, Insys Therapeutics filed for bankruptcy.
Mallinckrodt Plc tentatively agreed to pay $15.4 million to resolve a U.S. Justice Department probe into how a drugmaker that the company now owns marketed an expensive treatment for a rare infant seizure disorder and multiple sclerosis.
German drugmaker Bayer signed an alliance with Arvinas Inc. to gain access to the U.S. biotech firm’s experimental protein drugs and crop protection technology in a deal worth up to $750 million.
The FDA approved Novartis AG’s Piqray in combination with a hormone therapy for postmenopausal women, as well as for men, with a form of advanced breast cancer.
Shares of North Carolina-based BioCryst Pharmaceuticals were down more than 53 percent after the company released data from a Phase III trial that underwhelmed analysts.
Bayer shares fell by as much as 5 percent after a California couple were awarded more than $2 billion in the largest U.S. jury penalty over allegations the company’s Roundup weed killer causes cancer.
Danish drugmaker Novo Nordisk beat first-quarter 2019 operating profit forecasts, helped by higher sales of the company’s biggest new drug hope, a treatment for type 2 diabetes.
Gilead Sciences Inc. said Kite Pharma Inc., the cancer-focused cell therapy company acquired in 2017, will become a separate business unit.
Teva Pharmaceutical Industries posted a slightly smaller than expected drop in first-quarter 2019 profit and forecast a sharp rise in 2020 revenue from the company’s new migraine drug Ajovy.
Novartis raised the company’s 2019 profit target, striking an upbeat tone over a legal fight with peer and partner Amgen and on the safety of a key gene therapy that could win approval in May 2019.