The Swiss drugmaker Novartis is cutting nearly 2,000 jobs in the United States, anticipating the impending loss of patent protection on its blockbuster drug Diovan.
updated: Mon Jan 09 2012 15:23:00
Drug company Novartis is recalling a number of over-the-counter drugs after complaints about mislabeled and broken pills.
Machinery problems at a drug manufacturing plant prompted the U.S. Food and Drug Administration to warn patients of a possible mix-up affecting various prescription pain medications and over-the-counter drugs.
Pharmaceutical company Novartis on Sunday voluntarily recalled a number of over-the-counter drugs -- including certain bottles of Excedrin and Bufferin -- because of complaints about mislabeled and broken pills.
Swiss drug maker Novartis AG is facing tough competition from generics as several of its key drugs -- namely, bestseller Diovan for hypertension -- begin to lose patent protection in 2012.
Novartis Pharmaceuticals Corp. has agreed to pay $422.5 million to resolve claims it illegally marketed some of its widely used products.
On Monday, Alcon, the world's largest eyecare company, held a emergency board meeting in a cramped conference room at a non-descript business center in Zug, Switzerland. Only four or five reporters attended, and ten of the fifteen chairs reserved for shareholders sat vacant. The conclave lasted just 45 minutes.
If you have problems remembering to take your meds -- or whether you've taken them already -- some high-tech products on the horizon may be able to help you.
The U.S. Food and Drug Administration said Friday it has approved a new vaccine to prevent seasonal influenza.
After years of speculation and rare case reports, a study suggests that stimulant medication -- mostly used to treat attention deficit hyperactivity disorder -- may have played a role in a handful of cases of sudden, unexplained death in children and adolescents.
As bad as the year has been for U.S. equities, the scene around the world has been even more harrowing. Morgan Stanley Capital International's index of 21 non-U.S. markets is down 49% through Dec. 1, 2008, compared with a 43% slide in the S&P 500. But the real devastation has occurred in once-hot emerging markets. China's CSI index of 300 publicly traded stocks has fallen 63% for the year. The MICEX index of 30 of Russia's most liquid stocks is down a staggering 73%.
It's been a rough 2007 for Big Pharma workers. Crippled by mounting competition and slowing pipelines, the country's largest drugmakers have announced plans to shed a record number of jobs this year - more than 30,000 at last count - that are unlikely to ever return.
Stocks took a hit early Thursday after some economic reports showed inflation and economic strength that could limit future interest rate cuts.
Novartis' troubled diabetes drug Galvus, which has been approved by European regulators, might never make it to the U.S. market, an analyst said Tuesday.
updated: Tue Nov 13 2007 11:53:00
No cosmetic surgery is completely free of some risk. CNN's David Mattingly reports.
America's 20 million-plus diabetics mean dollar signs for drug companies that sell a slew of new products, including a successful drug based on the saliva of a Gila monster, and a failed inhalation device that's been compared to a "bong."
Third-quarter results from drugmaker Pfizer, Novartis, Lilly, Baxter and Wyeth varied widely Thursday, but shared one common theme: solid financial foundations.
Novartis will pay MIT $65 million over the next 10 years to develop a new manufacturing system the company believes will provide a big boost to its production of drugs.
For three decades, biotech drugmakers have led a charmed existence. Unlike their Big Pharma peers, biotechs - companies such as Amgen, Genentech, Gilead Sciences and Genzyme - have never had to fret over future competition from generic versions of their medicines.
Teva Pharmaceuticals, the top-selling generic drugmaker in the world, said the FDA approved its generic version of Novartis' genital herpes drug Famvir.
U.S. drugmakers are investing heavily in China, but experts say the People's Republic needs to cast off its image as a maker of toxic recalls before it can rival New Jersey - home of half of the world's top 10 pharmaceutical companies - as a big hub for Big Pharma.
The FDA approved the first skin patch for the treatment of Alzheimer's, produced by the drugmaker Novartis.
Let's be honest: Most performance reviews are a joke. Too often goals are ignored, hard work is overlooked, and in the end it's the kiss-ups who get promoted. A recent survey conducted by Salary.com is telling: Only 39 percent of employees think the process actually improves the way the job gets done.
Swiss drugmaker Novartis said Thursday that Exforge, a combination drug for treating high blood pressure that includes one of its top-selling blockbusters, has been approved by the Food and Drug Administration.
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India's fast-growing biotech business has the potential to be one of the driving forces behind its enviable 8 percent GDP growth, and a government estimate sees the industry increasing 15-fold over the next eight years.
Stocks could have a little trouble getting back on track Thursday as they await the March sales from major retailers.
Novartis pulled its irritable bowel syndrome drug Zelnorm off the U.S. market at the FDA's request because of a possible stroke risk to patients, the company said Friday.
U.S. stocks showed signs of early strength Tuesday, joining the rest of the world in a stock comeback.
Merck is the victor, at least for now, in an ongoing diabetes blockbuster showdown with Novartis.
Technology stocks were the leaders as U.S. stocks rallied to start the trading week Monday.
Iomai Corp. is developing a skin patch meant to give a broad boost to what is expected to be a national stockpile of bird flu vaccines, the biotech company's CEO said Monday.
The U.S. government awarded Novartis and GlaxoSmithKline contracts worth more than $100 million to develop vaccines to protect against the possibility of a bird flu pandemic, the drug companies said.
Novartis could be the hottest drug giant in 2007, analysts say, with Schering-Plough and Eli Lilly & Co. not far behind.
Novartis plans to bring a new arthritis painkiller to the U.S. market, but analysts say its similarity to the disgraced drug Vioxx could kill its chances of becoming a billion-dollar blockbuster.
Here's the good news for consumers: There's no flu vaccine shortage this year; in fact, 2006 will probably be a record year for vaccine production.
Bristol-Myers Squibb Co. on Thursday said third-quarter earnings fell as sales of its anti-clotting drug Plavix and other drugs were hurt by competition from cheaper generics.
Novartis Group ranks no. 177 on FORTUNE's Global 500 this year, with $32.2 billion in revenues, up 14% from the previous year. The Basel, Switzerland-based company was ranked no. 186 on the 2005 list. Its 2005 profits were $6.1 billion, up 6.3% from a year earlier. 2005 was a banner year for most Global 500 companies.
The multi-billion dollar drug industry for degenerative bone disease is getting more congested, with new studies showing the benefits of the Novartis drug Aclasta, and an experimental drug from Amgen on the way.
Okay does ANYONE think the Federal Reserve will do anything except leave interest rates alone this week? And will the price of oil and other commodities continue to plummet? Big deal questions....
Merck announced Thursday that its experimental diabetes drug Januvia significantly lowers blood-sugar level when taken with another drug.
The headline in London's Evening Standard in March, after BP reported that CEO John Browne's 2005 salary and bonus had hit $5.7 million, blared "OIL GIANTS' BOSSES LAND PAY BONANZA."
The FDA approved a new leukemia drug from the Bristol-Myers Squibb, the company said.
Merck and Novartis both released studies on experimental diabetes drugs Tuesday, signaling an imminent market face-off between potential blockbusters.
An experimental drug from Novartis can reduce blood-sugar levels in diabetics when combined with the Takeda drug Actos, according to late-stage studies released Tuesday.
In its face-off with Novartis over the multi-billion dollar diabetes market, Merck revealed a study Saturday showing that its experimental drug Januvia slashed the risk of hypoglycemia more than sixfold while matching a generic drug's ability to reduce blood-sugar level.
Patients suffering from blood cancer originating in bone marrow survived nearly 90 percent of the time when taking Novartis's blockbuster cancer drug Gleevec, researchers announced Saturday, compared to a survival rate of about 50 percent with other treatments.
The drug giants Merck and Novartis could soon be locking horns for dominance in the multibillion-dollar diabetes sector.
The U.S. Department of Health and Human Services awarded $1 billion to drugmakers, including nearly $700 million to GlaxoSmithKline, Novartis and MedImmune, to help them develop a faster method of producing an influenza vaccine to better protect the nation against the possibility of a pandemic.
European drugmakers are getting ready to report first quarter earnings in the next few days, and could be better positioned for growth than their American rivals
Shareholders of the troubled vaccine maker Chiron face a crucial vote in the next few days: Sell out to Novartis, or reject the drug maker's merger bid and continue to go it alone.
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Forget your fears about a bird flu pandemic. Cardiologists say that the blood pressure pandemic is already here.
Howard Pien, the CEO who headed pharmaceutical company Chiron when if failed to deliver half of the U.S.'s flu vaccine last year, could receive a $12.3 million severance package, a news report said Monday.
Merger news and falling oil prices were among the factors lifting stocks early Monday.
Xolair, a treatment for severe asthma from Swiss drug giant Novartis, was approved by European regulators on Thursday.
Swiss drugmaker Novartis on Tuesday said third-quarter profit rose 13%, helped by its Gleevec leukemia drug, Diovan blood pressure treatment and the acquisitions of Hexal and Eon Labs.
Lower oil prices were likely to boost stocks at Tuesday's open as the impact of Hurricane Katrina finally began to wear off more than a week after the storm battered the Gulf Coast.
Stocks struggled early Thursday as traders digested a slew of economic reports and waited for the results of a key manufacturing survey.
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In 2001, Novartis reached across the world--and deep into the past--to seek new drugs at the Shanghai Institute of Materia Medica, or SIMM, a leader in the study of traditional Chinese medicine. Th...
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The global generic drugs sector has had its largest year of deal-making, but industry leaders expect the pace of consolidation to accelerate as pricing pressures force more firms to scale up.
Diabetes drugs are the next big sector for Big Pharma, according to a new report.
Edited Press Release
Big drugmakers look poised to reap the benefits of the FDA's recent guidelines encouraging the biotech industry to develop "targeted" drugs.
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A sharp increase in the demand for a potent anti-malaria drug has raised concerns of a supply shortage, the World Health Organization (WHO) says.
Novartis AG won U.S. approval to market the drug Femara for women who have finished standard therapy for early-stage breast cancer, the company said Friday.
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France's largest drugmaker Aventis will stay under French control after smaller rival Sanofi-Synthelabo raised its bid to $64.2 billion and turned a hostile bid into a friendly acquisition Monday.
Schnitzer Steel Industries Inc. reported that its second-quarter profit more than doubled thanks to strong demand in the United States and Asia, sending its shares soaring in after-hours trading.
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In the future, successful drug companies will have to come up with innovative cures for complex, hard-to-treat conditions like cancer -- without letting their research-and-development spending get out of hand.
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