Britain’s Competition and Markets Authority accused Merck‘s (NYSE:MRK) European unit, Merck Sharp & Dohme, of conducting an unfair discount scheme that it said was designed to restrict competition from biosimilar copies of the company’s drug, Remicade. Remicade is an antibody drug used to treat rheumatoid arthritis, ulcerative colitis and Chron’s disease. It was the 1st […]
johnsonandjohnson
Amid drug-pricing criticism, industry trade group ousts members
The pharmaceutical industry’s trade group ousted 22 companies earlier this week after it revised membership rules. The move comes as lawmakers in Washington have pressed the pharma industry about U.S. drug prices. The updated membership rules for the Pharmaceutical Research and Manufacturers of America (PhRMA) group mandates that members spend at least $200 million each year […]
Med device, drug delivery companies join J&J’s Toronto JLABS incubator
Johnson & Johnson (NYSE:JNJ) said today it has added 24 companies, including those in the medical device and drug delivery fields, to its JLABS incubator facility in Toronto, Canada. The facilities in Toronto now host over 40 companies, according to Johnson & Johnson, all of which are provided with lab space and offices, modular lab […]
Ethicon touts new anti-infection suture guidelines
Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon touted updated anti-infection suture guidelines from the Centers for Disease Control and Prevention, which recommend that healthcare professionals “consider the use of triclosan-coated sutures for the prevention of SSI [surgical site infection].” Ethicon Plus Sutures are the only globally available sutures coated with triclosan that stop bacteria commonly associated with […]
Advanced Proteome Therapeutics moves into Johnson & Johnson’s Innovation lab
Boston-based biotech Advanced Proteome Therapeutics (CVE:APC) said today that it is moving into Johnson & Johnson‘s (NYSE:JNJ) Innovation lab, JLabs, in Toronto. The 40,000 square-foot incubator is home to a number of life science start-up companies, including Avrobio and Immune Biosolutions. Johnson & Johnson Innovation doesn’t take an equity stake in the companies occupying its lab space, […]
After review of patient deaths, European regulators OK Actelion’s Uptravi
The European Medicines Agency told doctors today that they can continue to prescribe Actelion‘s (VTX:ATLN) pulmonary arterial hypertension drug, Uptravi. The regulatory body initiated a safety review in January after 5 patients in France died and docs were asked to stop prescribing the drug. Regulators reported that their review did not suggest an increase in mortality […]
Actelion shareholders OK R&D spinout
Actelion (VTX:ATLN) shareholders today reportedly approved spinning off the company’s early clinical assets and drug discovery branch into a new company. The move keeps Johnson & Johnson (NYSE:JNJ) $30 billion takeover on track to close in the 2nd quarter. The newly formed biopharmaceutical company will be called Idorsia Ltd and led by Actelion CEO Jean-Paul Clozel. Shares in Idorsia […]
Johnson & Johnson’s tender offer for Actelion snares 78% stake
Johnson & Johnson (NYSE:JNJ) said today that it controls nearly 78% of voting rights in its $30 billion acquisition of Swiss biotech firm Actelion (VTX:ATLN). Janssen, J&J’s Swiss subsidiary, declared the tender offer successful. The company added that based on regulatory approval proceedings, the offer is expected to settle in the 2nd quarter of this year. J&J will have […]
Pharma stocks fall on Trump’s proposal to cut NIH budget
The Trump budget plan to slash more than 18% from the budget for the National Institutes of Health sent pharmaceutical stocks down today on Wall Street as investors reacted to the proposal. The budget proposal, released today, would cut the NIH budget by $5.8 billion, to $25.9 billion – an 18.3% cut. The proposal would also introduce […]
Trump drug pricing tweet sends pharma stocks down
Shares in Pfizer (NYSE:PFE), Merck (NYSE:MRK) and Amgen (NSDQ:AMGN) fell slightly this morning after President Donald Trump tweeted that he was working on a “new system” to lower drug prices. “I am working on a new system where there will be competition in the Drug Industry,” he wrote. “Pricing for the American people will come way down!” […]