Israeli court tells Teva to return Copaxone, pay Proneuron; more ammo for Mylan?
An Israeli court ordered Teva Pharmaceutical to not only return the Copaxone (glatiramer acetate) multiple sclerosis drug it licensed from Proneuron Biotechnologies but also return 14 indications it received for other nervous system drugs. Oh, and pay Proneuron the equivalent of $128,666 as well.
To avoid becoming deal bait, Mylan CEO may have to make another big buy
It's been less than a week since Mylan completed its deal with Abbott, scooping up a large chunk of the Illinois company's overseas generics business. But CEO Heather Bresch is already hinting at another big transaction.
Gilead plows ahead in India with Mylan deal on hep C, but will it work?
Mylan Pharmaceuticals Private has signed an agreement with Gilead Sciences for exclusive rights in India to distribute the best-selling Sovaldi (sofosbuvir) and Harvoni combination with ledipasvir for treating hepatitis C.
UPDATED: Mylan's women's health biz leaps to fore in emerging markets with $750M Famy deal
Mylan will pay $750 million in cash to buy the women's healthcare businesses from India's Famy Care, placing it as the top seller of contraceptives in emerging markets.
Mylan beefs up outside the U.S. with $5.3B deal for Abbott drug business
Mylan has been hunting for a buy. Now, it's found one. The Pittsburgh-based generics specialist is buying a big chunk of Abbott Laboratories' drug business, in a stock swap worth $5.3 billion. With $2 billion in annual sales, the products would jack up Mylan's top line by almost 30%.
Meda spurns Mylan takeover bid
Just four months after closing its $1.75 billion acquisition of Agila Specialties, generic drug maker Mylan is eyeing another takeover candidate--Sweden's Meda AB. Pennsylvania-based Mylan is talking with advisers about a takeover bid that could be made at a "significant premium" to Meda's $4.5 billion market value, according to sources quoted by the Financial Times.
Ranbaxy issues a recall, but so do Pfizer, Baxter, Gilead and Mylan
India's Ranbaxy Laboratories has issued another recall for its generic Lipitor, but a series of product recalls in recent weeks have come from plants around the world and companies as varied as Pfizer, Mylan and Gilead Sciences.
Mylan holds back $250M in Agila buyout
Mylan's buyout of Agila Specialties from India's Strides Arcolab hit a hitch after the FDA issued a warning letter to one of Agila's plants. Mylan said it was holding back $250 million of the $1.75 billion payout until the regulatory issues get resolved.
Top 10 generics makers by 2012 revenue
The Hatch-Waxman Act shook up the generic drugs business in 1984, and almost 30 years later, it's safe to say the law had its desired effect. About 84% of the 4 billion prescriptions written each year are for generic drugs, saving patients and government programs billions of dollars a year. In other words, generic drugs are big business. And with a slew of blockbuster brands now off patent, it's a big business with growing pains.
Mylan's Agila deal moves forward, but next buyers may not be so lucky
Trade Minister Anand Sharma said deals on the table will be approved, but the government also will consider putting new restrictions on direct foreign investment to make sure generic versions of some critical drugs remain available.