March 13, 2013
In the Region Foot doctor ahead in drug-firm pay A Philadelphia-area foot doctor was named one of a few dozen physicians across the nation who have earned more than $200,000 from speaking and consulting work for drug companies. Warren S. Joseph of Huntingdon Valley was No. 5 on ProPublica 's list of Top Earners, one of a handful of doctors who grossed more than $500,000 from pharmaceutical giants. ProPublica is a nonprofit news organization devoted to investigative journalism.
September 17, 2012 |
In Texas, Allen Jones determined that state employees were getting kickbacks from pharmaceutical companies, and his efforts resulted in his being named Whistle-blower of the Year and awarded about $20 million of the state's $158 million settlement. In Pennsylvania, where Jones was a commonwealth-paid investigator, he and his information were dismissed - twice, almost a decade apart. Jones had discovered malfeasance that was similar in both states, with the drug companies wanting state officials to help push higher-priced antipsychotic drugs to foster children, among other wards of the state, through taxpayer-funded Medicaid programs.
August 14, 2012 |
IPOs by Facebook and Manchester United notwithstanding, there are other ways to tap deep pockets. Companies can get acquired. Octagon Research Solutions Inc. , a Wayne software company that helps pharmaceutical companies with submitting clinical data to regulators, agreed to be acquired by Accenture P.L.C. earlier this month. Terms of the transaction, which is expected to close by the end of September, were not disclosed. At $25.5 billion in net revenues for 2011, Accenture is by far the bigger company.
August 7, 2012 |
In an effort to get FDA approval for a new cancer therapy, pharmaceutical giant Novartis is teaming with the University of Pennsylvania and investing at least $20 million in a new center to expand the university's work. The collaboration between Novartis and Penn is expected to start in the fall with a new research and development facility, the Center for Advanced Cellular Therapies, to be established within the next year. The center's location has not yet been determined but will most likely be on Penn's campus, university officials said Sunday.
July 17, 2012 |
GlaxoSmithKline P.L.C. said Monday that it had a deal to buy Human Genome Sciences Inc. for $3 billion, $400 million more than the London-based drugmaker offered in April. Glaxo has operations in Center City and the Philadelphia suburbs. In April, Glaxo offered $2.6 billion, or $13 a share, for HGS, which is based in Rockville, Md. Monday's announcement came after the two company boards agreed over the weekend on $14.25 a share. That price represents a 99 percent premium over the $7.17 stock price of April 18, which was the last day of trading before HGS went public with what had been Glaxo's private offer.
May 12, 2012 |
Opioid painkillers have pushed aside heroin and cocaine as the biggest killer drugs, according to the Centers for Disease Control and Prevention. Because of that, U.S. Senate Finance Committee leaders Max Baucus (D., Mont.) and Charles Grassley (R., Iowa) began an investigation this week into whether pharmaceutical companies are inappropriately pushing sales by funding doctors and quasi-independent organizations set up to produce positive literature about prescription painkillers.
March 8, 2012 |
The United States has a drug problem. Spending on prescription drugs rose from $40 billion in 1990 to a record $307 billion in 2010 as more people came to believe there's a pill for every problem. Pharmaceutical companies fuel this belief by bombarding the public with advertising. Self-medication with over-the-counter drugs, herbal remedies, alcohol, and street drugs compounds the problem. Now drug use has stirred up a heated controversy among mental-health professionals. Last year, 44 million American adults, or more than 22 percent of the population, were treated for mental illness.
March 7, 2012 |
AmerisourceBergen Corp., the Valley Forge drug wholesaler that is 27th on the Fortune 500 list, made its biggest foreign step Tuesday by announcing it has agreed to buy World Courier Group Inc., a privately held global specialty-transportation and logistics provider for the biopharmaceutical industry, for $520 million in cash. The globalization of large U.S. businesses is almost a given these days, but it doesn't apply to every company in the same way. AmerisourceBergen had more revenue - $80 billion - than any of the pharmaceutical companies it handles products for, but had only a small presence outside the United States, in Canada and Wales.
March 6, 2012 |
AmerisourceBergen Corp., the Valley Forge-based drug wholesaler that is 27th on the Fortune 500 list, made its biggest foreign step Tuesday by announcing it has agreed to buy World Courier Group Inc., a privately-held global specialty transportation and logistics provider for the biopharmaceutical industry, for $520 million in cash. The globalization of large American businesses is almost a given these days, but it doesn't apply to every company in the same way. AmerisourceBergen had more revenue - $80 billion - than any of the pharmaceutical companies it handles products for, but had only a small presence outside the United States, specifically Canada and Wales.
January 29, 2012 |
BioClinica Inc. is a bit unusual these days in the region's pharmaceutical industry. It is hiring. The company creates computer software to read and measure images, such as brain scans of tumors, and to digest the huge amounts of data related to clinical studies that drug companies sponsor. The company had 522 employees at the end of 2011 and hopes to add 55 by year's end, with most of the current job listings pegged for headquarters in Newtown, Bucks County, and its site in Audubon, Montgomery County.