September 11, 2016 |
Teva Pharmaceutical Industries said Friday it expects to meet with the Food and Drug Administration soon to understand how it can win regulatory approval for its generic version of Mylan's EpiPen allergy-reaction injector. Teva said it hopes to introduce its generic epinephrine product in late 2017 or early 2018. Teva's generic medicine, if approved, would likely be priced cheaper than Mylan's branded drug, whose price has surged from less than $100 in 2007 to more than $600.
July 15, 2016 |
Shares of Teva Pharmaceutical Industries rose nearly 4 percent Wednesday after the drugmaker said its $40 billion deal to buy Allergan P.L.C.'s generics business is expected to close shortly. On a call with analysts, Teva chief executive officer Erez Vigodman said the acquisition - for $33.5 billion in cash and about 100 million of Teva's shares - should close "at any time now. " He said he knew of nothing that would hold up the purchase, which awaits final clearance from the U.S. Federal Trade Commission.
April 8, 2016 |
Pharmaceutical giant Pfizer and Ireland-based Allergan scrapped their merger plans Wednesday, two days after the Treasury Department announced tough new rules to thwart U.S. companies' moving their headquarters overseas to lower their taxes. The $160 billion deal would have been the biggest acquisition in drug industry history and would have created the largest pharmaceutical company in the world. The new Treasury Department rules make it harder for companies, through a merger, to move their tax addresses out of the United States and then shift profits to low-tax countries, a process called inversion.
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.
June 25, 2015 |
The Philadelphia region and New Jersey are home to many pharmaceutical and life-sciences companies that send and receive finished medicines and raw drug ingredients around the globe. American Airlines officials snipped a ribbon and provided tours Tuesday at Philadelphia International Airport of a new $5 million cargo refrigeration facility catering to the cold storage needs of these companies. The 25,000-square-foot renovated warehouse opened six weeks ago, and can handle nearly four times the amount of perishable, time-sensitive, and valuable airfreight - including vaccines, blood products, gene therapies, tissues, insulin and immunotherapies - that travel in the belly of planes on American and merger partner US Airways passenger flights.
February 7, 2015 |
Pfizer Inc. led the deal-making in the interconnected pharmaceuticals industry Thursday, saying it would buy Hospira Inc. for about $17 billion, including debt. Hospira is a leader in the generic injectable-medicine market and is among those at the forefront of so-called biosimilar drugs. New York-based Pfizer, which has a Collegeville facility, has been on the prowl - an analyst's description, which CEO Ian Read took issue with in a conference call - to buy a company to bolster current and future revenue.
January 26, 2015 |
One in a continuing series spotlighting real estate markets in the region's communities. Horsham is "a little different market" when compared with surrounding communities, veteran real estate agent Gary Segal says. For one thing, he notes, even in the off-season that runs from just before Thanksgiving to a week after Super Bowl Sunday, the market here is "fairly hot. " Says Segal: "I sold a couple of real good ones" - including newly constructed houses, which command the top prices in any market - "that brought the second-highest price in Horsham this year to a [relocation]
October 2, 2014 |
More cringing - and possibly more explanation - is in store for parents watching TV with children when the latest Viagra commercials appear on screens. Euphemistic and delicate phrasing about erectile dysfunction by an unseen narrator? Done and gone. "So, guys, it's just you and your honey. The setting is perfect," says the blue-eyed blond woman with the British accent as she lies on a canopy bed with a tropical scene in the background. "But then, erectile dysfunction happens again.
August 27, 2014 |
American Airlines and its merger partner, US Airways, are renovating a warehouse at Philadelphia International Airport to include refrigeration for pharmaceuticals and other health-care products. When it opens this fall, the temperature-controlled plant will be able to handle four to five times the current amount of perishable, time-sensitive, and valuable airfreight, including vaccines and blood products, that arrive and leave in the belly of planes on US Airways and American passenger flights.
June 23, 2014 |
The leadership ground is still moving under Teva Pharmaceutical Industries, which is based in Israel but has several facilities in the Philadelphia area. Teva board chairman Phillip Frost sent a letter to shareholders Wednesday that said he would resign from the board later this year. Frost led the hiring of now-former chief executive officer Jeremy Levin, but the board didn't agree on implementing Levin's plans, so Levin departed. Erez Vigodman, who served on the board, was named CEO on Jan. 9 and began in that role Feb. 11. Financial analysts were anxious for Vigodman to more quickly implement previously announced cost-cutting measures, including layoffs.