Good morning, everyone, and how are you today? We are hobbling along, thank you, due to a nasty summer something. To cope, we are shifting gears and reaching for cups of stimulation that consist of tea leaves and honey. If nothing else, this is a nice image. We hope you are doing better. Toward that end, here are some tidbits. Have a smashing day and do keep us in mind when something interesting pops up …
A year-long survey of 50,000 drug samples made in India found they were safe and effective, the Economic Times writes, citing health ministry data. The survey, which used federal- and state-accredited laboratories in India, found a substandard rate of 3.5 percent, which was lower than the 4 percent to 5 percent rate found in the previous five-year period. The survey was conducted in response to rising concerns over the safety of medicines made in India.
Medivation chief executive David Hung could come out one of the big winners from the $14 billion buyout bid from Pfizer, while Sanofi, of course, is the big loser, the San Francisco Business Times writes. Hung could get change-of-control payouts worth upwards of $150 million. And BioMarin Pharmaceutical may get further royalties and milestones associated with a breast cancer drug sold last year to Medivation.
The Singh brothers claim that $400 million in damages awarded to Daiichi Sankyo in connection with their sale of Ranbaxy Laboratories to the Japanese drug maker cannot be enforced under Indian law, the Economic Times says. The Singhs were accused of concealing information about wrongdoing at Ranbaxy when they sold a majority stake to Daiichi in 2008 for $2.4 billion. In 2013, Ranbaxy paid $500 million in fines and restitution to US authorities for violating drug safety laws.
Russia’s competition watchdog said it uncovered evidence of a cartel within the country’s pharmaceuticals industry and will investigate seven companies over possible bid-rigging, Global Competition Review says.
Novartis was criticized for blaming management at its Korean unit for a bribery scandal and not taking greater responsibility, according to the Korea Herald.
European regulators approved the use of Truvada, the Gilead Sciences pill for preventing the risk of HIV infection in adults, but it remains unclear whether the treatment will be funded in the UK, Pharmaphorum tells us.
Sagent Pharmaceuticals recalled another lot of its injectable penicillin in the US after a customer found rust in a vial, InPharma Technologist reports.
India’s National Pharmaceutical Pricing Authority capped the prices of 22 medications, including cancer and anti-retroviral drugs, the Economic Times writes.
Cinven, an international private equity firm, plans to buy Bioclinica, marking its second purchase of a clinical research organization as industry consolidation continues, Outsourcing Pharma says.
The average gross base salary for a pharmacist last year working at a retail, mail, and specialty pharmacy was $119,517, a meager 0.1 increase from 2014, according to DrugChannels.