Business Mylan NV shares slid 10 percent on Wednesday after the generic drug maker predicted poor 2019 earnings that led some Wall Street analysts to wonder if its finances would worsen further. 27 Feb 2019 10:50PM Bookmark REUTERS: Mylan NV shares slid 10 percent on Wednesday after the generic drug maker predicted poor 2019 earnings that led some Wall Street analysts to wonder if its finances would worsen further.Mylan said on Tuesday its lower-than-expected profit outlook was due to rising costs related to marketing and research and development.It added that product launches should offset revenue declines for existing products this year as prices of generic drugs remain under pressure due to increased competition."Even with the approvals and launches of Copaxone, Neulasta and Advair these approvals are only providing some relief, but are not altering the systemic problems inherent with the generic model," Cowen & Co analyst Ken Cacciatore said in a report to … [Read more...] about Mylan shares sink as bleak profit outlook sparks growth concerns
Generic for advair
Mylan launches Advair generic at one-third price
REUTERS: Mylan NV on Tuesday priced its generic version of GlaxoSmithKline's blockbuster asthma treatment Advair 70 percent lower than the branded medicine.The treatment, the first generic of Advair, is approved in three doses and will be priced between US$93.71 and US$153.14, the company said.Advair targets certain patients with asthma or chronic obstructive pulmonary disease and brought in revenue of about US$4.19 billion in 2017 for the London-listed GSK.Mylan received approval for the treatment from the U.S. Food and Drug Administration last month.In the United States, more than 26 million people are known to have asthma, of which about seven million are children.The FDA has declined to approve several Advair copycats including those from Novartis AG and Hikma Pharmaceuticals.Mylan's shares gained 1.4 percent at US$31.46 in morning trade.(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Sriraj Kalluvila) … [Read more...] about Mylan launches Advair generic at one-third price
Drugmaker GlaxoSmithKline’s profit boosted by Trump’s reforms
LONDON: Pharmaceutical giant GlaxoSmithKline on Wednesday (Feb 6) said group annual net profit more than doubled in 2018, largely on lower R&D and US tax costs.Profit after tax soared to £3.62 billion (US$4.69 billion) last year compared with £1.53 billion in 2017 as the multinational paid less tax under US President Donald Trump's reforms.GSK also slashed research and development (R&D) costs in 2018, its earnings statement revealed.Annual revenue grew two percent to £30.82 billion."GSK delivered improved operating performance in 2018 with group sales growth, strong commercial execution of new product launches, especially (shingles vaccine) Shingrix, continued cost discipline and better cash generation," said chief executive Emma Walmsley.GSK said it expected earnings per share to fall by up to nine per cent this year, "reflecting recent approval of a generic competitor" in the United States to its blockbuster asthma drug Advair.Following the results, GSK's … [Read more...] about Drugmaker GlaxoSmithKline’s profit boosted by Trump’s reforms
FDA approves Mylan’s generic of Advair asthma treatment
REUTERS: The U.S. Food and Drug Administration (FDA) approved Mylan NV's generic version of GlaxoSmithKline-developed blockbuster asthma treatment Advair, driving shares of Mylan 7 percent higher on Wednesday.Mylan received approval to market its generic inhaler in three dosages for the twice-daily treatment of asthma in patients aged four years and older, the FDA said.The FDA has declined to approve several Advair knock-offs in the past from drugmakers including Novartis AG, Hikma Pharmaceuticals and Mylan itself, whose generic was rejected last year.In the United States, more than 26 million people are known to have asthma, and about seven million of these people are children, the FDA said.British-listed GSK reported revenue of about US$4.19 billion from Advair in 2017.Even though the potential revenue opportunity from a generic version of Advair has fallen over the past several years, Wednesday's approval is nonetheless important to Mylan, Citi analyst Liav Abraham said.Analysts at … [Read more...] about FDA approves Mylan’s generic of Advair asthma treatment
Experts query case for GlaxoSmithKline’s new 3-in-1 lung drug
Health Two medical experts have urged caution in using a new three-in-one inhaler for chronic lung disease from GlaxoSmithKline, which the company hopes will help it keep its lead in respiratory medicine despite rising competition. 19 Apr 2018 05:05AM Bookmark LONDON: Two medical experts have urged caution in using a new three-in-one inhaler for chronic lung disease from GlaxoSmithKline, which the company hopes will help it keep its lead in respiratory medicine despite rising competition.Trelegy Ellipta was licensed for use last year and full results from a positive clinical trial were published on Wednesday in the New England Journal of Medicine (NEJM). A critical accompanying editorial, however, may make some doctors think twice before writing prescriptions.Trelegy is the first once-daily triple medicine for chronic obstructive pulmonary disease (COPD), putting GSK ahead of rivals such as AstraZeneca and Novartis, and it showed benefits over other treatments in the … [Read more...] about Experts query case for GlaxoSmithKline’s new 3-in-1 lung drug