Drugmaker Amgen Inc. said on Monday that it let go about 300 U.S. employees or about 1.2 percent of its total workforce, citing recent organizational changes to its commercial team. The company had about 24,200 staff members in over 50 countries, as of December 31, 2021, according to its latest annual regulatory filing with the…
Endo Files for Bankruptcy as US Opioid Litigation Drags
Endo International Plc. filed for bankruptcy on Tuesday after reaching a $6 billion deal with some of its creditors, as the U.S. drugmaker seeks to settle thousands of lawsuits over its alleged role in the country’s opioid epidemic. The pharmaceutical company is the latest to file for Chapter 11 to address opioid claims. Purdue Pharma,…
Japan’s Shionogi Seeks Approval for COVID-19 Pill
TOKYO—Drugmaker Shionogi & Co. Ltd. has applied for approval to make and sell its oral COVID-19 treatment in Japan, the firm said on Friday. Known as S-217622, the drug would become the country’s third antiviral pill approved for coronavirus patients, following those developed by Pfizer Inc. and Merck & Co.. In a statement, Shionogi said…
Drugmaker Teva Fueled Opioid Addiction in New York, Jury Finds
January 27, 2022
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NEW YORK—Teva Pharmaceutical Industries Ltd fueled opioid addiction in New York state, a jury found on Thursday, a setback for a company still facing thousands of other opioid-related lawsuits around the United States. The verdict, which followed a nearly six-month New York state court trial in a case brought by the state and two of…
Drugmaker Endo Signs $65 Million Opioid Settlement With Florida
January 18, 2022
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Drugmaker Endo International plc said on Tuesday it had agreed to pay up to $65 million to resolve claims by the state of Florida and local governments that the drugmaker helped fuel the U.S. opioid epidemic. The deal is the latest in a string of settlements that Endo has struck in recent months to resolve…
Biogen Slumps After Medicare’s Restrictive Decision on Alzheimer’s Drug
Shares of Biogen Inc fell nearly 10 percent on Wednesday after the U.S. government announced limited coverage of Alzheimer’s treatments including the drugmaker’s Aduhelm, dealing a blow to the controversial treatment that was approved last year. Biogen had been banking on the government’s coverage decision to help drive up sales of Aduhelm, which it hoped…
Jury Finds Drugmaker Teva Fueled Opioid Addiction in New York
NEW YORK—Teva Pharmaceutical Industries Ltd fueled opioid addiction in New York state, a jury found on Thursday, a setback for a company still facing thousands of other opioid-related lawsuits around the United States. The verdict, which followed a nearly six-month New York state court trial in a case brought by the state and two of…
AstraZeneca Buys Rare Disease Drugmaker Caelum in Potential $500 Million Deal
September 29, 2021
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AstraZeneca will take full control of Caelum Biosciences in a deal worth up to $500 million, the drugmaker said on Wednesday, sharpening its focus on rare-disease drugs following its purchase of Alexion Pharmaceuticals. The deal gives AstraZeneca access to another potentially lucrative rare disease drug that is undergoing late-stage trials and has a “fast track”…
EU Signs Deal With GSK for Supply of Potential COVID-19 Drug
BRUSSELS—The European Union has signed a contract with GlaxoSmithKline (GSK) for the supply of up to 220,000 treatments of its investigational monoclonal antibody therapy sotrovimab against COVID-19, it said on Wednesday. The drug, which is developed together with U.S. firm Vir Biotechnology, can be used for the treatment of high-risk coronavirus patients with mild symptoms…
Roche Looking for New Place to Test COVID-19 Pill After Cases Plummet in UK
ZURICH—Roche is looking for another location to carry out trials of its pill to fight COVID-19, after plummeting case numbers in Britain made it difficult to find enough patients for its study there, the Swiss drugmaker said on Wednesday. Roche and Boston-based partner Atea Pharmaceuticals are hoping their AT-527 pill could offer an anti-viral therapy…
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