Hello, everyone, and nice to see you again. We have returned from an extended weekend respite, which, of course, went by all too quickly. But summer breaks are like that, yes? Well, this means, of course, that the usual routine of meetings, deadlines, and the like has resumed. We are relying more heavily than usual on some cups of stimulation to cope and invite you to join us. Meanwhile, here are some tidbits. Hope you have a productive day…
Pfizer agreed to pay $14 billion in cash for Medivation in a deal that adds the Xtandi prostate cancer drug to its product portfolio. Several other large drug makers were interested in acquiring Medivation, since it was one of the few independent companies with a cancer treatment that is selling well — Xtandi currently generates about $2 billion a year in annual sales.
Australia’s Pharmaceutical Benefits Advisory Committee declined to recommend Truvada, the HIV prevention pill, be added to the government’s Pharmaceutical Benefits Scheme, the Sydney Morning Herald reports. Cost-effectiveness was cited as one reason for the decision. This means that Gilead Sciences, which sells the drug, will have to make submit a new application later this year to be reconsidered at a March 2017 PBAC meeting.
Valeant Pharmaceuticals refilled patient prescriptions without their permission and steered them to more expensive drugs in order to boost sales, according to a lawsuit filed last week by T. Rowe Price. The lawsuit provides additional insight into how Philidor Rx Services, a mail-order pharmacy, helped Valeant direct prescriptions to its brand-name medicines over cheaper generic versions. Federal prosecutors are probing whether Valeant hid its ties to Philidor.
Meanwhile, Valeant hired Paul Herendeen as its new chief financial officer, luring the executive away from Zoetis, the animal health products maker.
Eli Lilly and AstraZeneca say a type of Alzheimer’s drug called a BACE inhibitor that they are developing was given fast-track designation by the US Food and Drug Administration.
After years of buying up Boston-area office buildings, international investors are now chasing laboratory space that is in tight supply as the region’s life sciences industry booms, the Boston Globe tells us.
A federal court ruled that Pfizer’s biosimilar version of Johnson & Johnson’s Remicade does not infringe a key patent, possibly clearing the way for its sale in October, the Wall Street Journal writes.
Pregnant women taking antipsychotics can continue taking most of those medications without worrying the drugs will increase the risk of their newborns having birth defects, Reuters writes, citing a new study.
Sun Pharma appears to have completed its restructuring of Ranbaxy Laboratories as four more senior-level executives have left, according to the Economic Times.
An abuse-deterrent opioid from Pfizer called Troxyca ER won regulatory approval for managing severe pain, according to PharmaTimes.
Nephron Pharmaceuticals plans to cut another 60 jobs as it transitions out of Florida and into a new headquarters in South Carolina, the Orlando Sentinel says.
Actavis recalled five lots of the glipizide diabetes drug made by Patheon after tests revealed that the tablets did not meet specifications, InPharma Technologist writes.