Investors' worries over the closing of Teva's $40.5 billion deal for Allergan's generics unit are being realized, with the Israeli drugmaker Tuesday reporting that a delay is on the way. And looking ahead, that may also spell a delay for Pfizer's pickup of the rest of Allergan, too.
Pfizer and Abbott cut production on their popular cough medicines in India last year after officials imposed new regs to fight the smuggling of opiates into Bangladesh. Now regulators have banned the products altogether, leaving Pfizer to scramble to court Monday for an order staying the action as it tries to sort out the matter.
Western drugmakers often complain about what sometimes seems like the capricious nature of Indian drug regulation. Now Pfizer has asked an Indian court to get involved after a regulator included popular cough syrups from it and Abbott in a broad ban of fixed-dose drugs over the weekend.
Pfizer's Xalkori was already approved to treat metastatic non-small cell lung cancer patients with ALK-positive tumors. But now, the company has a new selling point for the med.
The medical charity Médecins Sans Frontières is taking its fight with Pfizer over the cost of top selling vaccine Prevenar 13 to a new level. It is challenging the drugmaker's request for a patent on the vax in India.
Pfizer will invest about $15.7 million (AU$21 million) to expand a plant in Adelaide, Australia, to increase the capacity of the active ingredient for Neulasta. No new jobs, however, are associated with the expansion.
A new year means new advertising budgets, and pharma is already off to a big start. TV ad spending by pharma's top 10 brands topped $162 million in January and $126 million in February, according to real-time TV tracker iSpot.tv. Both monthly totals blew away last fall's top 10 spending totals, which ranged from $93 million to $114 million from September through December.
Last year, Pfizer successfully fought off a blind sales rep's demand for a car and driver to take her on her sales rounds. But now, a federal appeals court says the rep's claims deserve a hearing before a jury.
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.
A new report from a tax fairness group claims Pfizer's Allergan merger will help it dodge $35 billion in U.S. taxes--and while some experts doubt that figure's accuracy, it's spurred some members of Congress to urge a further crackdown on companies that shift their tax bases abroad.