Business & Industry News Channel
AstraZeneca PLC has reported that sales in the third quarter increased by 3 percent at CER, or 9 percent on an as reported basis. Sales in the US were unchanged, as the $141 million decline in sales of Toprol-XL from generic competition was offset by 5 percent growth in the rest of the US business.
The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) has adopted a negative opinion on a Cymbalta® (duloxetine hydrochloride) application for the treatment of fibromyalgia.
Pfizer Ltd (NYSE:PFE) (LSE:PFZ) and UCB have announced the formation of Cyclofluidic, a breakthrough technology company established with the aim of significantly accelerating the drug discovery process by allowing researchers to test a greater range of potential new medicines in a shorter time.
Novartis has strengthened its capabilities for developing medicines that can be delivered via the lungs through a definitive agreement to acquire the pulmonary drug delivery business unit of Nektar Therapeutics (NASDAQ: NKTR) for USD 115 million in cash.
GlaxoSmithKline plc (GSK) has announced that it will acquire the Egyptian mature products business of Bristol Myers Squibb (BMS), for $210 (£125) million, in a move to accelerate sales growth and further extend its pharmaceutical portfolio in emerging markets.
Abbott (NYSE: ABT) today announced the opening of new development laboratories and a pilot plant facility that will research groundbreaking technologies and test large-scale production of newly developed drug formulations. The expansion is part of Abbott's global drug delivery business, SOLIQS, which is based in Ludwigshafen.
Based on positive Phase II trial findings, Bayer Schering Pharma will move into Phase III trials with its oral agent riociguat (BAY 63-2521). Riociguat is the first member of a new class of vasodilating agents called soluble guanylate cyclase (sGC) stimulators.