Sanofi (NYSE:SNY) reportedly sued Mylan (NSDQ:MYL) today, accusing the company of illegally suppressing competition to the EpiPen device. The lawsuit filed in a New Jersey federal court alleges that Mylan’s conduct has cost Sanofi hundreds of millions of dollars in sales for its rival allergy treatment, Auvi-Q. Canonsburg, Penn.-based Mylan has found itself at the center of […]
Mylan
Sanofi promotes Sibold to exec VP of Sanofi Genzyme | Personnel Moves – April 13, 2017
Sanofi (NYSE:SNY) said at the start of April that it promoted Bill Sibold to exec VP of Sanofi Genzyme, effective July 1, 2017. Sibold succeeds Dr. David Meeker, who is slated to leave the company at the end of June. Sibold is the head of Sanofi Genzyme’s global multiple sclerosis, oncology and immunology organization. He […]
Acorda to cut 20% of staff in restructuring effort
Acorda Therapeutics (NSDQ:ACOR) said today that it plans to cut 20% of its workforce as a part of a cost reduction and restructuring effort. The move comes less than 1 week after the company lost patents related to its multiple sclerosis drug, Ampyra. The Ardsley, N.Y.-based company had 597 employees as of February, according to Reuters, […]
EpiPen purchasers level class action against Mylan over price hikes
Mylan (NSDQ:MYL) was hit with another class action lawsuit over the price of its EpiPen device yesterday. The lawsuit, which was filed in the Washington Western District Court, alleges that Mylan engaged in a scheme with pharmacy benefit managers to dominate the market and overcharge customers. Although the Canonsburg, Penn.-based company has been hit with several lawsuits […]
EpiPen manufacturer expands recall to U.S.
Mylan (NSDQ:MYL) said last week that its manufacturing partner, Meridian Medical Technologies, expanded an EpiPen recall to include the U.S. and other markets. The move comes 1 week after Mylan recalled 81,000 EpiPen devices in countries outside the U.S. following 2 reports that the allergy auto-injector failed to work in emergency situations. “While the number of reported […]
Mylan shares down -3% after FDA rejects Advair generic
Shares in Mylan (NSDQ:MYL) dropped -3% to $40.46 apiece today after the FDA rejected its Abbreviated New Drug Application for the generic version of GlaxoSmithKline‘s (NYSE:GSK) Advair Diskus. The Canonsburg, Penn.-based company said it is “in the process of reviewing this response and will provide an update on its application as soon as practicable once it has […]
Pulmatrix jumps 8% on rumors of potential Mylan takeover bid
Shares in Pulmatrix (NSDQ:PULM) jumped more than 8% today on rumors that the company’s collaboration partner Mylan (NSDQ:MYL) may be interested in a takeover bid. In 2015, the 2 companies inked an ex-U.S. development deal for PUR0200, Pulmatrix’s investigational bronchodilator for the treatment of chronic obstructive pulmonary disease. Mylan had an option on the rights […]
Abbott divests 60% of its stake in Mylan
Abbott (NYSE:ABT) divested 60% of its remaining stake in Mylan (NSDQ:MYL) this week, according to regulatory filings, disposing of 44 million shares at $41.60 apiece. The trade was valued at $1.7 billion. In 2014, Mylan bought Abbott’s generics business outside the U.S. in a deal that rang in at nearly $5.3 billion. The deal allowed Canonsburg, Penn.-based Mylan […]
Mylan recalls 81,000 EpiPens over reports of device failure
Mylan (NSDQ:MYL) recalled 81,000 EpiPen emergency allergy auto-injectors this week after receiving 2 reports that the device failed to work in emergencies. The recall affects devices in Australia, New Zealand, Europe and Japan, the company reported. Canonsburg, Penn.-based Mylan said that in both cases, patients received treatment using an alternate EpiPen. The drugmaker also said that it […]
Sanofi gains on Q4 results; a look at some of the top drug-delivery earners in 2016
Shares in Sanofi (NYSE:SNY) have gained 11% to $44.58 apiece since the company released its 4th-quarter and full year 2016 financial results in February. The French company posted profits of $731.5 million on sales of $8.21 billion for the 3 months ended Dec. 31, for bottom-line growth of 136.5% on sales growth of 3.3% compared with […]
