AstraZeneca is selling European rights (excluding Spain and the UK) to the erstwhile blockbuster cholesterol drug Crestor to German pharmaceutical company Grünenthal as the British drugmaker focuses on cancer treatments.
Grünenthal agreed to acquire the European rights (excluding Spain and the UK) to AstraZeneca’s Crestor (rosuvastatin) and its associated brands for a total consideration of up to $350 million.
Purdue Pharma LP pleaded guilty to criminal charges over the handling of the company’s addictive prescription painkiller OxyContin, capping a deal with federal prosecutors to resolve an investigation into the drugmaker’s role in the U.S. opioid crisis.
Mallinckrodt filed for bankruptcy protection, saddled with lawsuits alleging the company helped fuel the U.S. opioid epidemic.
The U.S. Food and Drug Administration removed a boxed warning about increased risk of leg and foot amputations with Johnson & Johnson’s diabetes drug Invokana.
Pfizer Inc. announced that the U.S. FDA approved Nivestym (filgrastim-aafi), a biosimilar to Neupogen, for all eligible indications of the reference product.
The European Commission approved GlaxoSmithKline’s three-in-one inhaler Trelegy Ellipta for chronic lung disease.
AstraZeneca’s drug sales fell again in third-quarter 2017, hit by generic competition to former blockbusters such as the cholesterol pill Crestor, although the pace of decline slowed as the company looks to new cancer treatments to revive its fortunes.