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Amgen 2019 forecast falls short of expectations, shares dip

Amgen Inc. reported fourth-quarter 2018 profit that easily surpassed expectations as sales rose and tax expense fell, but competition for the company’s older medicines is growing and the drugmaker forecast 2019 earnings below Wall Street estimates.

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Botox maker Allergan’s 2018 revenue forecast misses estimates, shares drop

Allergan Plc forecast 2019 revenue below expectations on looming competition for some of the company’s top drugs, and shelved plans to sell the women’s health business.

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Exclusive: CVS to cover migraine drugs from Teva, Lilly; excludes Amgen

CVS Health Corp. – a top U.S. manager of pharmacy benefits – added new migraine drugs from Teva Pharmaceutical Industries Ltd. and Eli Lilly and Co. to the PBM’s list of covered drugs, excluding a rival treatment from Amgen Inc.

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AbbVie’s 2018: Revenues Up, Earnings Down

AbbVie reported a loss of $1.83 billion for the fourth quarter of 2018. Overall revenues were up for full-year 2018, however, hitting $32.75 billion compared to $28.2 billion in 2017.

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Editas Medicine CEO Resigns, Sends Stocks Plunging

Shares of Editas Medicine were down nearly 20 percent after CEO Katrine Bosley abruptly announced her decision to resign from her role at the company effective March 1, 2019.

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GSK Chairman Steps Down Ahead of Company Split

GlaxoSmithKline Chairman Sir Philip Hampton will step down from his role ahead of the company’s plan to split into two separate business units.

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Lilly’s cancer therapy Lartruvo fails study, shares drop

Eli Lilly’s shares fell after the cancer treatment Lartruvo – approved on an accelerated basis in 2016 – failed to improve patient survival in a long-term study and will no longer be prescribed.

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India’s Sun Pharma tumbles on reports of fresh whistleblower complaint

Shares of Sun Pharmaceutical Industries Ltd. plunged 13 percent to near six-year lows, hit by reports that a whistleblower filed a complaint to regulators over transactions involving the top Indian drugmaker and the company’s co-promotor.

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Edward Lifesciences pays Boston Scientific $180 million to end patent row

Edwards Lifesciences Corp. paid rival Boston Scientific Corp. $180 million as part of a settlement to end long-standing patent disputes between the two medical device makers.

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Akorn gets FDA warning letter for Illinois plant

Akorn Inc. received a warning letter from the U.S. Food and Drug Administration following an inspection of the generic drugmaker’s Decatur, Illinois manufacturing plant during 2018.

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