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Tuesday, 16 October 2018 - 20:25

Top stories

Bayer considering sale of Animal Health business (€6-7bn)

Werner Baumann, CEO of Germany-based group Bayer, has told in an interview that his company’s management is assessing a sale of the Animal Health division. The segment last year delivered €1.6bn, with a 24% EBITDA. The sale might fetch Bayer…

Allogene’s debut beyond expectations

US-based biotech Allogene yesterday made its stock exchange debut (Nasdaq) and its shares were up over 43% in the first trading day, taking capitalization to $324m (corresponding to a diluted market value? of $22bn). The company was established by scientists…

Historic Otsuka-Proteus agreement on new drugs with sensor ($700m)

Historic agreement between Japan-based group Otsuka and Proteus Digital Health: the deal aims to extend the existing collaboration, which has already led to the FDA approval of Abilify Mycite–that is Otsuka Pharmaceutical’s antipsychotic drug Abilify (aripiprazole), including a sensor that…

Breathtec acquires Nash Pharmaceuticals

Canada-based group Breathtec Biomedical has announced it has acquired Nash Pharmaceuticals, another Canadian company with a pipeline of products still undergoing clinical trials in patients with Non-Alcoholic Steatohepatitis (NASH). NASH is a pathology spreading at an increasing rate, especially in the…

Novartis introduces therapy arsenal for multiple sclerosis

Novartis has introduced today at the Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS), currently being held in Berlin, data related to a clinical trial assessing Gilenya (fingolimod), an oral therapy for MS, in addition…

Positive rating for Teva group

Teva’s shares have declined 12% from their high set in September, probably reflecting the approval of the new Eli Lilly’s migraine drug, that will be a direct competitor to Teva’s Ajovy. Despite this, Goldman Sachs’ analysts remain highly positive about…

First assessment of Ian Read’s work, Pfizer outgoing CEO

Pharma giant Pfizer on Monday announced that Ian Read, CEO for 8 years, is stepping down in favor of Pfizer’s current COO Albert Bourla, a Greek veteran in the company for 25 years. Ian Read, born in 1953, is an…

Recordati seeks to obtain €500m line of credit for new acquisitions

Italian economic-financial daily Il Sole 24 Ore has reported that drugmaker Recordati, recently acquired by private equity CVC, is seeking to obtain from banks–especially Intesa SanPaolo–a loan of approximately €500m to be used for acquisitions abroad. (Source: Il Sole 24…

Brazil’s EMS seeking to acquire Teva’s Medis

The Brazilian daily O Estado de Sao Paolo has reported today that the local generics manufacturer EMS is targeting Teva’s division Medis, headquartered in Island, that produces generic drugs. EMS is already in talks with banks to obtain a $900m…

Novo Nordisk announces new spate of job cuts

Denmark-based  Novo Nordisk will cut 250 jobs in the US. The news was announced on Friday evening after trading closed and will affect 100 employees at Princeton premises (NJ) and 150 employees working in the diabetes area with support tasks….

WHO report about alcohol use and alcoholism

  The World Health Organization (WHO) has published a long and detailed report about the spread and effects on society of alcohol beverages. Over 3 million people died due to excessive alcohol use in 2016 , which corresponds to 5%…

Swiss executives earn highest salaries in Europe

The Swiss economic daily Basler Zeitung has published a long article analyzing the salaries of Swiss corporations’ senior executives, comparing them to those of other European managers. Results show that Switzerland is the country paying managers the highest salaries. CEOs…

Roche strengthens oncology division by acquiring Tusk for €655m

Roche has acquired Belgian biotech Tusk Therapeutics, paid €655m. Tusk has developed its own CAR-T therapy with specific anticarcinogenic properties, which will be developed through clinical trials not sooner than 2019. Tusk was established in 2014 by Droia Oncology Ventures,…

Vas Narasimhan, Novartis CEO, explains reasons behind 2,100 jobs cut

Novartis new CEO Vas Narasimhan has given a long interview to the Swiss daily Basler Zeitung today. The interview has been almost entirely focused on the cut of approximately 2,100 jobs, announced by the Swiss multinational’s management two days ago….

Novartis announces huge staff cut in Europe

Novartis has announced today the strategic decision that many employees were waiting for and dreading. The Basel-based group has disclosed it plans to cut at least 1,700 jobs in Switzerland and to close down its Grimsby (UK) site, where 395…

Pascal Soriot voices disappointment over his pay package

AstraZeneca CEO Pascal Soriot 4 years ago achieved to convince the company’s shareholders and the British government to decline Pfizer’s  acquisition bid, worth $118bn. At that time, Soriot ensured financial return and job protection levels that Pfizer wasn’t able to…

Gilead makes brave decision: announces launch of generics to Harvoni and Epclusa

Gilead Sciences has announced it has created the subsidiary Asegua Therapeutics LLC, a company that will distribute generics–specifically  Epclusa (sofosbuvir 400mg/velpatasvir 100mg) and Harvoni (ledipasvir 90mg/sofosbuvir 400mg). The two drugs are the group’s blockbusters for hepatitis C, and their sales…

New therapies preventing migraine episodes to be launched

US-based drugmaker Eli Lilly & Co. on Friday announced that EMA has recommended the marketing approval in Europe for its monoclonal antibody Emgality (galcanezumab). Emgality has already been granted conditional approval in the US by FDA. It is part of…

Medtronic acquires Israel-based Mazor Robotics for $1.64bn

  The large medical device producer Medtronic has acquired Israel-based Mazor Robotics for $1.64bn. The deal strengthens Medtronic’s spinal surgery portfolio. The two companies had already been partners since 2016 when they entered the agreement, which entitles Medtronic to be…

Nestlé announces plan to divest Skin Health division ($4.1bn)

Nestlé has announced today that it intends to sell its Skin-Health division, which analysts estimate to be worth at least $4.1bn. The decision is probably due to investors–such as Daniel Loeb–increasingly pressurizing Nestlé into reorganizing the group. The Switzerland-based company…

Link between obesity and cognitive capacities discovered

Over the last few years, various scientific articles have tried to detect a link between obesity and cognitive capacities. The studies followed statistical observation suggesting that cognitive capacities are lower in obese babies than in non-obese ones.  A report published…

Nestlé, Unilever and Coca-Cola targeting GSK’s Horlicks ($3bn)

The Financial Times has reported today that the three major FMCG multinationals–Nestlé, Unilever and Coca-Cola–have submitted a bid to GlaxoSmithKline for Horlicks, an Indian manufacturer of malted drinks. The offers are approximately worth $2.5bn-$3bn, the article reports. GSK has allowed…

Novo Nordisk announces as many as 400 job cuts in research

Denmark-based Novo Nordisk, world leader in diabetes treatments, today has announced a plan to dismiss 400 research employees. Cuts will mainly affect employees in Denmark and China. The company will use the saved resources to increase its innovation capacity: indeed…

The value of human tissue studies in Translational Research

The increasing gap between R&D expenditures and the approval of new medicines by regulatory authorities is a matter of debate between R&D managers of the pharmaceutical industry since the 2000s. An analysis of the number of NMEs (New Molecular Entities)…