REUTERS: Consolidation in the U.S. healthcare industry, which has already witnessed a string of multi-billion dollar deals, is expected to remain a major theme for the rest of 2019.Bristol-Myers Squibb's US$74 billion acquisition of Celgene set the M&A ball rolling in January, and was followed by AbbVie Inc's US$63 billion bid for troubled smaller rival Allergan Plc.Regulators are pressuring companies to cut drug costs and takeovers have become the preferred method of combating looming patent expiries on some of the top-selling medicines they have relied upon in recent years.Following is a list of big healthcare companies and their recent deals and possible future acquisitions.BIOGEN INC:** Since the halt in its development of a promising Alzheimer's therapy wiped US$18 billion off Biogen's stock in March, Wall Street has been calling on the company to beef up its drug development pipeline through acquisitions.** Possible deals would give the company access to drugs for lucrative … [Read more...] about Who is next in big pharma’s merger spree?
World A U.S. judge on Friday said patents relating to the Amgen Inc's blockbuster rheumatoid arthritis drug Enbrel were valid, denying a challenge by Novartis AG, which is seeking to launch a copycat version. 10 Aug 2019 04:10AM Bookmark REUTERS: A U.S. judge on Friday said patents relating to the Amgen Inc's blockbuster rheumatoid arthritis drug Enbrel were valid, denying a challenge by Novartis AG, which is seeking to launch a copycat version.U.S. District Judge Claire Cecchi in Newark, New Jersey rejected arguments by Novartis' Sandoz unit that the patents covering Enbrel's active ingredient until 2029 should not have been granted because their concepts were already contained in previous patents.(Reporting by Jan Wolfe and Ankur Banerjee; Editing by Shinjini Ganguli) … [Read more...] about US court upholds Amgen patents on arthritis drug Enbrel
World Pfizer Inc said on Friday that the U.S. Food and Drug Administration had approved its biosimilar to Roche Holding AG's blockbuster cancer treatment Avastin. 28 Jun 2019 08:30PM Bookmark REUTERS: Pfizer Inc said on Friday that the U.S. Food and Drug Administration had approved its biosimilar to Roche Holding AG's blockbuster cancer treatment Avastin.Pfizer's Zirabev received approval for the treatment of five types of cancer, including colorectal and lung cancers, it said.In 2017, U.S.-based Amgen Inc's Mvasi was approved by the FDA as the first biosimilar to Roche's Avastin, which brought in revenue of US$6.85 billion to the Swiss drugmaker in 2018.Roche has been facing declining sales for its three leading cancer drugs - Avastin, Herceptin, Rituxan - due to severe competition in Europe from low-cost versions called biosimilars.Earlier this year, Pfizer won European approval for Zirabev, months after the treatment gained a positive recommendation from the Committee for … [Read more...] about Pfizer’s Avastin biosimilar wins FDA approval
CHICAGO: Expectations were high last year for three new migraine drugs hitting the market from Amgen Inc, Eli Lilly and Co and Teva Pharmaceutical Industries.Priced around US$7,000 each, the drugmakers called them "breakthrough" treatments designed to prevent migraines when taken year-round, and estimated that millions of patients could benefit. The U.S. Food & Drug Administration said Amgen's Aimovig – the first of the three drugs approved – was an "important addition" to available treatments.But a small group of medical experts who quietly advise U.S. health insurers on new drugs was not impressed, according to a private meeting held at UnitedHealth Group's OptumRx offices in Chicago that was attended by Reuters.They concluded that all three medicines offered no clear benefit over drugs already on the market and that insurers could consider them optional when it came to health coverage. They advised putting limits into place on their use.While these experts do not … [Read more...] about The obscure advisory committees at the heart of the US drug pricing debate