To prove a generic drug is as safe and effective as the branded version, pharmaceutical companies have to hand over upwards of 1,000 doses of the product to a generic developer. But if the manufacturer creating the generic drug cannot get its hands on enough sample, the development and testing process slows down. It could […]
Valeant Pharmaceuticals
Egalet teams up with Valeant division to promote pain-relief nasal spray
Egalet (NSDQ:EGLT) has partnered with a division of Valeant Pharmaceuticals (NYSE:VRX), OraPharma, to co-promote its pain-relief nasal spray to dentists and oral surgeons in the U.S. Sprix nasal spray is a nonsteroidal anti-inflammatory drug designed for the short-term management of moderate to moderately-severe pain. Financial terms of the two-year deal were not disclosed. “Given the need for […]
Ocular Therapeutix founder & CEO Sawhney to step down | Personnel Moves – June 23, 2017
The president & CEO of Ocular Therapeutix (NSDQ:OCUL), Amarpreet Sawhney, is slated to step down from the company that he helped start in 2006. He will serve as the board’s executive chairman for 1 year, unless he decides to leave earlier. The company wrote in a regulatory filing that “his service will be automatically renewed for […]
Valeant posts Q1 profit thanks to tax benefit, raises guidance
Shares in Valeant Pharmaceuticals (NYSE:VRX) rose more than 25% today after the company met earnings expectations on Wall Street, but missed on revenue with its 1st quarter results. The Canada-based company posted profits of $628 million, or $1.79 per share, on sales of $2.11 billion for the 3 months ended March 31, for bottom-line growth […]
Valeant, Ackman agree to split costs in shareholders class action
Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) and William Ackman’s hedge fund Pershing Square Capital Management reportedly agreed to split litigation costs in a class action lawsuit brought on by shareholders over an alleged insider trading scheme in Allergan (NYSE:AGN)’s 2014 takeover bid. In June 2014, Valeant offered a tender bid for Allergan, which was followed by a 7 […]
Allergan pays $15m for failing to disclose Actavis ‘white knight’ offer
The SEC said yesterday that Allergan (NYSE:AGN) will pay a $15 million fine for failing to disclose its 2014 merger talks with Actavis. In June 2014, Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) offered a tender bid for the Irvine, Calif.-based company which was followed by a 7 month-long hostile pursuit by Valeant and co-bidder Pershing Square Capital Management. In November […]
AARP report details increase in brand name drug prices
The AARP Public Policy Institute released a report today showing that 2015 was the 4th straight year of double-digit average annual increases for widely used brand name drugs. The nonprofit organization also concluded that prices for brand name drugs increased almost 130 times faster than the 0.1% general inflation rate in 2015. The report, which […]
California insurance board subpoenas Valeant
Valeant Pharmaceuticals (NYSE:VRX) said yesterday that it received an investigative subpoena from the California Dept. of Insurance last month over its ties to a specialty pharmacy, Philidor Rx Services. The company is facing allegations that it used Philidor to force customers to pay higher prices for its drugs. The subpoena reportedly asked for materials such as documents […]
FDA warns Valeant on SPAG-2 nebulizer, OraPharma OnSet mixing pen
The FDA this month warned Valeant Pharmaceuticals (NYSE:VRX) on violations found during inspections of its Rochester, N.Y., plant last summer. The federal safety watchdog, in a Nov. 3 warning letter posted online today, wrote that inspections from Aug. 23 through Sept. 1 turned up problems with its small-particle aerosol generator, the SPAG-2 device, and a high-precision compound and dispensing […]
Report: Valeant explores sales of eye surgery biz
Valeant Pharmaceuticals (NYSE:VRX) is reportedly exploring a sale of its eye surgery business that could be worth as much as $2.5 billion. The sale process is still in early stages and may not even happen, but the Laval, Canada-based company is trying to shed some of the debt it took on through its many acquisitions, […]
