Swiss-based Novartis has paid the U.S. SEC for $25 million to settle civil charges it bribed medical personnel in China to boost drug sales during the decade from 2003 to 2013, Reuters reports.
When Novartis execs predicted big things for their Entresto launch, they didn't promise it would happen overnight. But now, they admit the heart failure drug has lagged their own internal expectations. And according to one analyst who's surveyed doctors about the med, its climb to blockbuster sales may be steeper than anyone anticipated.
Novartis CEO Joe Jimenez, like a few of his Big Pharma peers, saw his 2015 pay decline from 2014, and he has Alcon's troubles to thank for it.
A Chicago doctor who took kickbacks from Big Pharma in exchange for prescribing antipsychotic meds is facing some prison time. A U.S. District judge sentenced Dr. Michael Reinstein to 9 months in federal prison after finding that Reinstein accepted payments from companies such as Teva Pharmaceuticals and Ivax Pharmaceuticals for promoting the drugs to elderly patients.
Novartis has stopped a Phase III trial of Genmab's Arzerra in pemphigus vulgaris patients. The decision, which comes 7 months after Novartis agreed to buy the rights to Arzerra in autoimmune indications from GlaxoSmithKline, will result in a focusing of attention on the testing of the monoclonal antibody as a treatment for relapsing multiple sclerosis.
Novartis' Fougera Pharmaceuticals currently has its manufacturing split between two plants that are located only about 15 minutes apart but in two different Long Island, NY, communities. The dermatology specialist thinks it is time to unite the two and so will expand and upgrade one of the sites over the next 4 years and then relocate its nearly 400 workers there.
One word popped up over and over when Big Pharma reported earnings last month: Venezuela. The association wasn't positive. Executives blamed losses there for hundreds of millions in currency-related hits to their financials.
Thanks to some aggressive brand defense tactics, Teva's multiple sclerosis blockbuster Copaxone has been hanging onto its slice of the pie despite generic competition from Novartis' Sandoz and Momenta. But it's all a matter of time until Sandoz manages to cut down Teva's market share, Momenta CEO Craig Wheeler recently promised investors.
Amgen wants to do everything that it can to protect its top-selling anti-inflammatory drug Enbrel from the advent of biosimilars, and now, it's shoring up its defenses.
Teva's multiple sclerosis star Copaxone has been clinging to its market share despite last year's rollout of Novartis generic Glatopa. But if anyone can wrestle it away, it's the Swiss drugmaker, partner Momenta says--it just might be a little while.