October 18, 2014 |
She loves Philadelphia. "Come on, this city is gorgeous!" She'd even like to buy some real estate here. "Anyone have some ideas?" But she wanted to know who that guy was standing atop City Hall. "Billy Penn?" she asked incredulously. "What'd he do? Was he like poet laureate, or something, of Philadelphia?" That was Diane Keaton, 68, one of a star-studded handful of keynote speakers Thursday at the 11th annual Pennsylvania Conference for Women, where more than 7,000 women and a few men attended the one-day lollapalooza-scale event.
August 30, 2014 |
With the Ebola epidemic growing in West Africa, drugmaker GlaxoSmithKline and the National Institutes of Health said Thursday that they would begin next week the first human trials of a potential vaccine that might help prevent the spread of the virus, which has killed more than 1,500 people. Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases, a division of NIH, said the epidemic was now "uncontrolled" and requires an "all-hands-on-deck" response.
July 16, 2014 |
Shifting needs of players in the pharmaceutical industry came together Monday afternoon when GlaxoSmithKline P.L.C. announced a licensing deal with California-based Codexis Inc., which produces enzymes and a related process that allows drugmakers to manufacture medicines less expensively and in a more environmentally friendly manner. London-based GSK, which has operations in and around Philadelphia, will pay Codexis $6 million up front and $19 million more after the technology is successfully transferred.
May 8, 2014 |
Coppertone and Claritin, iconic health-care products for preventing sunburn and treating allergies, will get a new corporate parent under a deal announced Tuesday in which Merck & Co. will sell its over-the-counter division to Bayer AG for $14.2 billion. New Jersey-based Merck got 70 percent of its consumer division revenue from U.S. sales, but German-based Bayer expects to make more from sales elsewhere on the globe. This is the latest deal in a wave of takeovers and trades by pharmaceutical industry giants, which are scrambling to reorganize to better balance investor demands for higher profits with patient and payer demands for better products at lower prices.
June 20, 2013 |
Iroko Pharmaceuticals Inc., a small developer of pain drugs based at the Navy Yard, will try to raise $145 million through an initial public offering, according to a registration statement filed with the Securities and Exchange Commission. Iroko, begun by several former GlaxoSmithKline executives in 2007, generated 2012 sales of $6.7 million from two medicines, Aldomet and Indocin. The company filed a new-drug application with the Food and Drug Administration seeking approval for Zorvolex to treat acute pain in February.
June 5, 2013 |
The controversial diabetes drug Avandia, made by GlaxoSmithKline, might not cause as many heart problems as was thought, the U.S. Food and Drug Administration said in a report released Monday. The report was prepared in advance of an unusual advisory-committee hearing scheduled this week to reexamine a clinical trial called Record, done by Glaxo in the mid-2000s to support continued approval of the medication. The FDA is in something of a bind with this drug. It approved the medication in 1999, but then was criticized after a 2007 study found cardiovascular problems in those who used it. The agency did not ban the drug, but in 2007 added restrictions to the official label on how it could be prescribed.
May 30, 2013 |
Vaccines are a big part of GlaxoSmithKline's pharmaceutical business, which is why, the company said Wednesday, it paid $325 million in cash for Okairos A.G., a Swiss firm whose work with monkey viruses offers a potential new way to protect people from disease. The Basel-based Okairos is a private company spun off from Merck in 2007. Since then, it has been supported by several venture-capital firms. In Okairos, Glaxo gets vaccines in early-phase trials, but also a proprietary process that might help its research efforts.
May 24, 2013 |
A local unit of drugmaker GlaxoSmithKline has a central role in a $200 million public-private project announced Wednesday to develop antibiotics against biological terrorism and treat drug-resistant infections in health-care settings around the world. The U.S. government will pay Glaxo $40 million in the first 18 months, and, if the project is on track, $160 million more over five years. Glaxo will contribute more of its own money to the project. Glaxo is one of the few big pharmaceutical companies that still works on antibiotics.
April 26, 2013 |
After reporting lower quarterly profits, drugmaker GlaxoSmithKline said Wednesday that it would reorganize its pharmaceutical divisions, with the possibility of someday selling older, "established" brands that it rarely promotes. Glaxo is based in London, but has about 1,300 employees in Philadelphia's Navy Yard and more in other facilities in Pennsylvania and New Jersey. Also, with United Kingdom authorities criticizing Glaxo for trying to delay the introduction of generic competitors nearly 10 years ago and the U.S. Supreme Court weighing a case, chief executive officer Andrew Witty defended the business practice.
April 7, 2013 |
PRINCETON - Merck & Co.'s chief executive officer, Ken Frazier, says the drugmaker's facility in West Point, Montgomery County, is in no danger of being closed now. Merck is among the many pharmaceutical companies that have announced in recent months plans to close or consolidate facilities in hopes of squeezing more efficiency out of their operations. Some of those decisions involved laying off employees. Is West Point safe? "Yes," Frazier said Thursday evening after speaking about Merck's worldwide vaccine programs at Princeton University's Woodrow Wilson School of Public and International Affairs.