December 2, 2015 |
Hoping to better weave through the complexities of Japan's changing health-care marketplace and sell more generic drugs, Teva Pharmaceutical Industries Ltd. said Monday that it was forming a joint venture with Takeda Pharmaceutical Co. Ltd. The new company seeks to marry Teva's strong portfolio with the Japanese firm's sales force. Teva will hold a 51 percent interest in the joint venture, with Takeda holding a 49 percent share, the companies said. In a November report, IMS Health predicted that drug spending in Japan, the world's third-largest market behind the United States and China, will increase from 3 percent to 4 percent over the next five years.
November 27, 2015 |
The recent boom in health-care mergers and acquisitions, which resounded loudly with Monday's $160 billion Pfizer-Allergan deal, already involves a small Philadelphia generic-drug company that has spent most of its 73-year existence trying to stay under the radar. Lannett Co. might be a takeover target or a buyer in the future, but now it is trying to digest a complicated acquisition of its own from September and a smaller one from May. Lannett, with 502 employees and five Philadelphia properties, was formed by two pharmacist brothers in 1942, before there was a distinct generic-drug industry.
October 31, 2015 |
While releasing third-quarter financial results, Erez Vigodman, chief executive of Teva Pharmaceutical Industries Ltd., said Thursday that the company was looking forward to closing its $40.5 billion purchase of the generic-drug unit of Allergan P.L.C. Teva and Allergan could close their deal in the first quarter of 2016. Vigodman and other officials spoke at a presentation in New York. Teva's headquarters is in Petach Tikva, Israel. Teva's report came as news emerged that Pfizer Inc. had approached Allergan to buy the brand-name portion of that company's drug business.
September 18, 2015 |
Legislation to control rising drug prices was introduced in Congress last week, and federal prosecutors are investigating drug price increases. But the chief financial officer of a leading drug wholesaler said Wednesday that generic price inflation would continue, even as the rate of increase has eased in recent months. Michael C. Kaufmann, CFO of Cardinal Health, told financial analysts in New York that corporate takeovers in the generic industry had reduced the number of manufacturers, which can mean price increases, because fewer firms are competing.
August 12, 2015 |
Drug pricing is the biggest commercial issue in the U.S. pharmaceutical industry, and Endo International CEO Rajiv De Silva said Monday that his company sees a mixed bag of opportunities to raise prices. In a conference call with stock market analysts, De Silva said that Endo has about 700 generic products, and that the company had been able to raise prices on some more complicated specialty generic drugs, such as those requiring injections, and on older products for which competitors have dropped out. Drug-company critics - including patients, doctor groups, and congressional leaders - generally question price increases, but stockholders benefit from revenue increases, and Wall Street analysis is based on that.
May 20, 2015 |
Endo Pharmaceutical P.L.C. said Monday that it will pay $8.05 billion for privately held Par Pharmaceutical Holdings L.L.C., to strengthen its position on the shifting landscape of generic drugmakers. The stock-and-cash sale comes amid consolidation in the market for generic drugs, as companies strive for greater leverage and profit, while patients and payers complain of rising prices. Some of the large generic drugmakers also sell so-called branded drugs, which usually carry higher prices because they are protected from market competition by patents.
November 21, 2014 |
The 1984 federal law that spawned the generic pharmaceutical industry was designed to use the basic idea of economic competition to lower the cost of prescription medicine for millions of Americans. The law has largely served its intended purpose. The Centers for Medicare and Medicaid Services said in January that the national rate of retail prescription drug spending slowed in 2012, growing only 0.4 percent because of "numerous drugs losing patent protection, leading to increased sales of lower-cost generics.
March 13, 2014 |
BELIEVING HE was a prophet with supernatural powers on a mission from God to conquer evil in Philadelphia, a Virginia Beach police officer stabbed two firefighters he thought were demons trying to stop his crusade, according to a lawsuit filed recently in Illinois federal court. Bradley Colas, the officer who filed the lawsuit, said that a generic form of the antibiotic Biaxin, which he was prescribed to treat bronchitis, caused him to experience an intense psychotic episode on March 4, 2012.
January 4, 2014 |
Two Israeli publications reported Thursday that Erez Vigodman will be named the new chief executive officer of Teva Pharmaceutical Industries Ltd., which has searched for a leader since Jeremy Levin departed in October after disagreements with the board of directors over how to operate the drugmaker. A member of the Teva board, Vigodman is CEO of Israel-based Makhteshim Agan Industries, which bills itself as the world's leader in "branded off-patent crop protection solutions. " Teva, which leads the world in generic-drug revenue, has headquarters near Tel Aviv.
September 12, 2013 |
GlaxoSmithKline P.L.C.'s top-selling drug by far is the asthma medication Advair, which accounts for about 20 percent of company revenue, but generic competition got a bit closer to reality this week. Advair is delivered to patients through an inhaler. Besides any existing patents, brand-name drug companies like Glaxo have hoped that the combination of a drug and a device would delay Food and Drug Administration issuance of guidelines for generic manufacturers who hope to make equivalent products.