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Seroquel

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BUSINESS
August 10, 2010 | By Christopher K. Hepp, Inquirer Staff Writer
AstraZeneca P.L.C. will pay $198 million to settle 17,500 U.S. lawsuits that alleged its top-selling antipsychotic drug Seroquel caused diabetes, the company announced Monday. The settlement, which was part of a court-ordered mediation, would resolve the bulk of more than 25,000 lawsuits against the company over Seroquel. "While the terms remain confidential and are subject to nonmonetary agreements, we believe it was in the best interest of the company to explore resolving these cases through the mediation process," Tony Jewell, AstraZeneca's spokesman, said in a statement.
BUSINESS
October 30, 2009 | By Miriam Hill, Inquirer Staff Writer
Drugmaker AstraZeneca P.L.C. said yesterday that it had set aside $520 million as part of a tentative agreement to resolve an investigation by federal prosecutors in Philadelphia into the company's marketing practices. The London company, whose U.S. headquarters are in Wilmington, also announced a 22 percent increase in third-quarter net income, helped by initial sales of its H1N1 flu vaccine. Expected increases in H1N1 vaccine sales led the company to boost its full-year profit forecast to $6.20 to $6.40 a share, from $5.70 to $6 a share.
BUSINESS
February 27, 2009 | By Miriam Hill INQUIRER STAFF WRITER
AstraZeneca P.L.C. made information about health risks of its antipsychotic drug Seroquel more prominent on the drug's label last month at the request of the government, a company lawyer said here yesterday. The information about the label change surfaced at a federal court hearing on whether the London drug company would have to release documents from lawsuits filed by about 15,000 patients who say that taking Seroquel led them to gain weight and triggered diabetes. Plaintiffs' attorneys and the company agreed yesterday to a release of all but 14 of 132 documents.
BUSINESS
October 30, 2009 | By Miriam Hill INQUIRER STAFF WRITER
Drugmaker AstraZeneca P.L.C. said yesterday that it had set aside $520 million as part of a tentative agreement to resolve an investigation by federal prosecutors in Philadelphia into the company's marketing practices. The London company, whose U.S. headquarters are in Wilmington, also announced a 22 percent increase in third-quarter net income, helped by initial sales of its H1N1 flu vaccine. Expected increases in H1N1 vaccine sales led the company to boost its full-year profit forecast to $6.20 to $6.40 a share, from $5.70 to $6 a share.
BUSINESS
May 14, 2012 | By David Sell, INQUIRER STAFF WRITER
Concerned about "suspicions" of overprescribing antipsychotic drugs, the Pentagon took steps in the last few weeks to limit the use of those powerful medicines to treat the growing legion of war fighters suffering from post-traumatic stress disorder. For Stan and Shirley White, the limits can't go into effect soon enough because, in their case, it's already too late. The retired educators' youngest son, Andrew, was an Eagle scout, a baseball player, and an honor student in high school near the family home in Cross Lanes, W.Va.
BUSINESS
July 23, 2004 | By Linda Loyd INQUIRER STAFF WRITER
AstraZeneca P.L.C., Europe's second-largest drugmaker, said second-quarter profit increased 25 percent as the company sold more of its ulcer-treatment Nexium and its schizophrenia drug Seroquel. The London-based company said net income was $833 million, or 50 cents a share, compared with $666 million, or 39 cents a share, in the same quarter a year ago. Revenue in the second-quarter rose 19 percent to $5.29 billion. A favorable currency exchange boosted sales by 8 percent.
BUSINESS
April 26, 2012 | By David Sell, INQUIRER STAFF WRITER
AstraZeneca P.L.C. chief executive officer David Brennan said Thursday he would retire June 1 in the wake of another difficult quarter for the pharmaceutical manufacturer. Based in the United Kingdom, AstraZeneca has its U.S. headquarters in Wilmington and a plant in Newark, Del. The company has struggled lately as it tried to replace revenue, some of which has been lost as blockbuster drugs face generic competition because their patents are expiring. AstraZeneca's best-selling drugs are Crestor (cardiovascular)
BUSINESS
April 12, 2009 | Compiled from The Inquirer, Associated Press, Los Angeles Times
"The sense of a ball falling off a table, which is what the economy has felt like since the middle of last fall, I think we can be reasonably confident that that is going to end within the next few months, and we will no longer have that sense of a free-fall. " - Lawrence Summers, President Obama's top economic advisor "The downturn is still intense, but it's no longer intensifying. " - Mark Zandi, chief economist at Moody's Economy.com "We are profoundly stunned at the early passing of a good man. " - Mace Security International CEO Dennis Raefield, on the death of company director and Drexel University president Constantine Papadakis "It's certainly going to help their bottom line, but it's not the great victory they had hoped for. " - psychiatrist Daniel Carlat, on an FDA panel's recommendation for limited expanded use of the AstraZeneca drug Seroquel "People are always less likely to pay after the fact.
NEWS
July 28, 2011 | ASSOCIATED PRESS
LONDON - Anglo-Swedish drug marker AstraZeneca PLC on Thursday reported more or less unchanged profits for the second quarter as it weathered a hit to sales revenue from generic competition. AstraZeneca, whose U.S. headquarters are outside Wilmington, reported a net profit for the period of $2.11 billion, up 0.3 percent from a year earlier. Revenue in the three months ending June 30 was $8.34 billion. That was 3 percent higher on a reported basis but 2 percent lower if exchange rates were considered to have remained unchanged.
NEWS
November 20, 2014 | By Tom Avril, Inquirer Staff Writer
For some of the most common drugs in U.S. medicine cabinets, the time of day they are taken can determine how well they work. That is the conclusion of University of Pennsylvania scientists, who based their finding on an exhaustive, hour-by-hour analysis of the internal protein-generating machinery in mice. Of the nearly 20,000 mouse genes known to contain recipes for making proteins, 43 percent were found to have a clocklike, "circadian" quality, revving up or slowing down their activity level at specific times every day. Almost all of these genes have close equivalents in humans.
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NEWS
November 20, 2014 | By Tom Avril, Inquirer Staff Writer
For some of the most common drugs in U.S. medicine cabinets, the time of day they are taken can determine how well they work. That is the conclusion of University of Pennsylvania scientists, who based their finding on an exhaustive, hour-by-hour analysis of the internal protein-generating machinery in mice. Of the nearly 20,000 mouse genes known to contain recipes for making proteins, 43 percent were found to have a clocklike, "circadian" quality, revving up or slowing down their activity level at specific times every day. Almost all of these genes have close equivalents in humans.
BUSINESS
May 14, 2012 | By David Sell, INQUIRER STAFF WRITER
Concerned about "suspicions" of overprescribing antipsychotic drugs, the Pentagon took steps in the last few weeks to limit the use of those powerful medicines to treat the growing legion of war fighters suffering from post-traumatic stress disorder. For Stan and Shirley White, the limits can't go into effect soon enough because, in their case, it's already too late. The retired educators' youngest son, Andrew, was an Eagle scout, a baseball player, and an honor student in high school near the family home in Cross Lanes, W.Va.
BUSINESS
April 26, 2012 | By David Sell, INQUIRER STAFF WRITER
AstraZeneca P.L.C. chief executive officer David Brennan said Thursday he would retire June 1 in the wake of another difficult quarter for the pharmaceutical manufacturer. Based in the United Kingdom, AstraZeneca has its U.S. headquarters in Wilmington and a plant in Newark, Del. The company has struggled lately as it tried to replace revenue, some of which has been lost as blockbuster drugs face generic competition because their patents are expiring. AstraZeneca's best-selling drugs are Crestor (cardiovascular)
BUSINESS
February 3, 2012 | By David Sell, Inquirer Staff Writer
Drugmaker AstraZeneca P.L.C. said Thursday that it would cut 7,300 more jobs worldwide because of declining fourth-quarter profit and 2012 revenue prospects. The company, based in London, plans to eliminate 12 percent of its workforce. There could be several hundred jobs lost in Wilmington and Newark, Del., a spokesman said. Following up on a March 2010 decision to curtail neuroscience research, the company will close its Montreal research facility and slice that work from its largest site in Sodertalje, Sweden, with a net effect of an estimated 2,200 job cuts.
NEWS
July 28, 2011 | ASSOCIATED PRESS
LONDON - Anglo-Swedish drug marker AstraZeneca PLC on Thursday reported more or less unchanged profits for the second quarter as it weathered a hit to sales revenue from generic competition. AstraZeneca, whose U.S. headquarters are outside Wilmington, reported a net profit for the period of $2.11 billion, up 0.3 percent from a year earlier. Revenue in the three months ending June 30 was $8.34 billion. That was 3 percent higher on a reported basis but 2 percent lower if exchange rates were considered to have remained unchanged.
BUSINESS
April 26, 2011 | By Mike Armstrong, Inquirer Columnist
When I'd heard that AstraZeneca P.L.C. was not only cutting jobs in Wilmington, but also tearing down buildings, it sounded like a corporate variation on scorched-earth tactics. The News Journal broke the news last week that the pharmaceutical company plans to raze 450,000 square feet of laboratory space in three buildings at its Wilmington-area campus over the next two years. Most companies, when they resort to layoffs, don't level the buildings, too. It sounded to me to be a little drastic.
BUSINESS
August 10, 2010 | By Christopher K. Hepp, Inquirer Staff Writer
AstraZeneca P.L.C. will pay $198 million to settle 17,500 U.S. lawsuits that alleged its top-selling antipsychotic drug Seroquel caused diabetes, the company announced Monday. The settlement, which was part of a court-ordered mediation, would resolve the bulk of more than 25,000 lawsuits against the company over Seroquel. "While the terms remain confidential and are subject to nonmonetary agreements, we believe it was in the best interest of the company to explore resolving these cases through the mediation process," Tony Jewell, AstraZeneca's spokesman, said in a statement.
BUSINESS
October 30, 2009 | By Miriam Hill INQUIRER STAFF WRITER
Drugmaker AstraZeneca P.L.C. said yesterday that it had set aside $520 million as part of a tentative agreement to resolve an investigation by federal prosecutors in Philadelphia into the company's marketing practices. The London company, whose U.S. headquarters are in Wilmington, also announced a 22 percent increase in third-quarter net income, helped by initial sales of its H1N1 flu vaccine. Expected increases in H1N1 vaccine sales led the company to boost its full-year profit forecast to $6.20 to $6.40 a share, from $5.70 to $6 a share.
BUSINESS
October 30, 2009 | By Miriam Hill, Inquirer Staff Writer
Drugmaker AstraZeneca P.L.C. said yesterday that it had set aside $520 million as part of a tentative agreement to resolve an investigation by federal prosecutors in Philadelphia into the company's marketing practices. The London company, whose U.S. headquarters are in Wilmington, also announced a 22 percent increase in third-quarter net income, helped by initial sales of its H1N1 flu vaccine. Expected increases in H1N1 vaccine sales led the company to boost its full-year profit forecast to $6.20 to $6.40 a share, from $5.70 to $6 a share.
BUSINESS
April 12, 2009 | Compiled from The Inquirer, Associated Press, Los Angeles Times
"The sense of a ball falling off a table, which is what the economy has felt like since the middle of last fall, I think we can be reasonably confident that that is going to end within the next few months, and we will no longer have that sense of a free-fall. " - Lawrence Summers, President Obama's top economic advisor "The downturn is still intense, but it's no longer intensifying. " - Mark Zandi, chief economist at Moody's Economy.com "We are profoundly stunned at the early passing of a good man. " - Mace Security International CEO Dennis Raefield, on the death of company director and Drexel University president Constantine Papadakis "It's certainly going to help their bottom line, but it's not the great victory they had hoped for. " - psychiatrist Daniel Carlat, on an FDA panel's recommendation for limited expanded use of the AstraZeneca drug Seroquel "People are always less likely to pay after the fact.
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