March 2010

Powerful growth of BIO-Europe Spring meets industry need for productive partnering

Gathering over 1,700 delegates from 1,061 companies in only its fourth year, BIO-Europe Spring 2010 provided proof of principle for conference producer EBD Group that “Partnering is here to stay in life sciences.” Powerful growth of BIO-Europe Spring meets industry need for productive partnering

Will Success Spoil Shire?

The British specialty company was once a one-drug shop. Now it’s one of mid-size pharma’s fastest-growing firms. So why is CEO Angus Russell fretting? Will Success Spoil Shire?

China building trust in drive to innovate

Market opportunities in China are staggering, yet it was a question of trust that dominated the Q&A period following the BIO-Europe Spring® panel discussion “Why China Should be Factored into a Company’s Development and Commercialization Strategy.” China building trust in drive to innovate

Sharp focus is key to making the cut in niche and regional markets

Big pharma is searching for niche opportunities to tease out further growth, moving into the rare diseases and regional markets that are the hunting ground for midsize companies Sharp focus is key to making the cut in niche and regional markets

Pfizer Chief Said to Make Case for Ratiopharm Deal

Pfizer Inc. said buying Ratiopharm GmbH would help the U.S. company beat generic competition and give the German drugmaker a bigger sales network in an acquisition plan presented today, according to two people with knowledge of the situation Pfizer Chief Said to Make Case for Ratiopharm Deal

We will cut drug prices by reducing production costs: GlaxoSmithkline

Did the entry of Daiichi Sankyo change your strategy for India or influenced your decision making process in anyway? We will cut drug prices by reducing production costs: GlaxoSmithkline

China Drug Cos Up On Hopes For More Medical Spending By China

China-based pharmaceutical company stocks posted gains Tuesday amid optimism that China's government will be making major investments in the country's health-care system this year China Drug Cos Up On Hopes For More Medical Spending By China

Bidding War Pits Pfizer Against Teva

The executives at some generic drug companies have a new catchphrase: There’s no place like Ulm. There’s no place like Ulm Bidding War Pits Pfizer Against Teva

German Merck has more takeover ideas

"We have indeed a few ideas. Acquisitions are a part of our strategy," Karl-Ludwig Kley told the Frankfurter Allgemeine Sonntagszeitung in an interview published on Sunday German Merck has more takeover ideas

GlaxoSmithKline Looking to Grow in India Via Buys

GlaxoSmithKline PLC, the world's second-largest drug maker by prescription drug sales, is looking at expanding in India GlaxoSmithKline Looking to Grow in India Via Buys

Eli Lilly Expects Japan Sales to Grow in ‘Mid Teens’ in 2010

Eli Lilly & Co., the world’s biggest maker of psychiatric medicines, expects revenue in Japan to increase in the “mid teens” this year Eli Lilly Expects Japan Sales to Grow in ‘Mid Teens’ in 2010

The biotech spring arrives in Barcelona

The theme here at BIO-Europe Spring 2010 is a new season for growing collaborations between Big Pharma and Little Biotech. And the key for developers is being able to fuel drug discovery programs in an environment where there's less cash on hand to fertilize the crops The biotech spring arrives in Barcelona

Astellas Needs to Raise OSI Bid by 15%, OrbiMed Says

Astellas Pharma Inc. needs to increase its $3.5 billion hostile takeover bid for OSI Pharmaceuticals Inc. by 15 percent, said OrbiMed Advisors LLC, OSI’s fifth-biggest shareholder Astellas Needs to Raise OSI Bid by 15%, OrbiMed Says

Bristol-Myers Squibb Highlights Strong Pipeline, Strategic Execution in Meeting with Investment Community

During a meeting with the investment community today, Bristol-Myers Squibb Company provided a comprehensive business overview and an optimistic future outlook, highlighted by a robust, differentiated pipeline Bristol-Myers Squibb Highlights Strong Pipeline, Strategic Execution in Meeting with Investment Community

Pfizer Cholesterol Flops Cleared Path for Resverlogix

Resverlogix Corp., without a marketed product, may accomplish what Pfizer Inc., the world’s biggest drugmaker, couldn’t: Creating a new medicine that fights heart disease by raising so-called good cholesterol Pfizer Cholesterol Flops Cleared Path for Resverlogix

Abbott may be partner for Chi-Med

Hutchison China MediTech Ltd., the pharmaceutical company controlled by Hong Kong billionaire Li Ka-shing, aims to find a partner this year for its experimental treatment for a bowel disorder and plans to spin off its drug- development business within two years Abbott may be partner for Chi-Med

Big Pharma faces major slow down

Top pharmaceutical and biotech companies will witness a major slow down in sales growth between 2008 and 2014, according to business analysts Datamonitor Big Pharma faces major slow down

Astellas CEO aims for the stars with U.S. bid

Masafumi Nogimori saw first-hand how drugs were effective against infection, and so began a life-long love affair with the pharmaceuticals industry that has taken the 62-year-old CEO of Japan's Astellas Pharma Inc (4503.T) to the brink of the firm's biggest takeover deal Astellas CEO aims for the stars with U.S. bid

Pfizer Said to Bid Up to $4 Billion on Ratiopharm

Pfizer Inc., the world’s biggest drugmaker, is bidding as much as 3 billion euros ($4.08 billion) for German generic-drug maker Ratiopharm GmbH, said two people with knowledge of the talks.

Pfizer could make a presentation to Ratiopharm’s management as early as this week to support its bid, said the two people, who declined to be identified because they aren’t authorized to comment on the process. Teva Pharmaceutical Industries Ltd. and Actavis Group hf are also bidding, and Ratiopharm is expected to decide by the end of the month, said one of the people. A third person knowledgeable about the process confirmed the timing Pfizer Said to Bid Up to $4 Billion on Ratiopharm

Interview: Jaume Masana, Esteve Phamaceuticals

New ventures and strategic alliances for Esteve Pharmaceuticals are presented to the Board of Directors of the privately funded Spanish pharmaceutical group through Jaume Masana, who is the Scientific and Business Development Director of Esteve. At BIO-Europe Spring® in Barcelona, Esteve is searching for innovative products and services to develop with partners, as well as opportunities for in-licensing agreements for its major markets Interview: Jaume Masana, Esteve Phamaceuticals

The Power of Successful Negotiation

A corporate focus on negotiations can help organizations reap substantial benefits The Power of Successful Negotiation

February 2010

Icahn aims to "fix" Genzyme, alludes to sale

One day after announcing he plans to nominate himself for the board of directors of Genzyme Corp., activist investor Carl Icahn said he aims to "fix" the ailing biotech company, which could include pushing for a sale Icahn aims to "fix" Genzyme, alludes to sale

Next Biogen Idec CEO May Be a Scientist

The future leader of Biogen Idec might be as familiar with a petri dish as he or she is with a spreadsheet Next Biogen Idec CEO May Be a Scientist

Genzyme in Icahn's Sights

Carl Icahn is taking the fight to Genzyme(GENZ Quote) in a bid to wrest control of the biotech company from embattled Chairman and CEO Henri Termeer Genzyme in Icahn's Sights

Merck joins the cost-cutting crowd

Following its merger with Schering-Plough, US drug giant Merck & Co. has announced a 'merger restructuring plan' that in its first phase will see 17,500 jobs cut Merck joins the cost-cutting crowd

Actavis Relies on Deutsche for Ratiopharm Bid

Actavis has severed ties with Sweden’s EQT in a bid for German drug maker Ratiopharm Actavis Relies on Deutsche for Ratiopharm Bid

Teva, Actavis Said to Be Final Ratiopharm Bidders as EQT Exits

Teva Pharmaceutical Industries Ltd. and Actavis Group hf reached the final round of bidding for German generic-drug maker Ratiopharm GmbH as Swedish investment firm EQT Partners AB was eliminated, three people familiar with the auction said Teva, Actavis Said to Be Final Ratiopharm Bidders as EQT Exits

Drug Firms Apply Brand to Generics

Some prestigious brand-name pharmaceutical companies that once looked askance at the high-volume, low-cost business of generic drugs are now becoming major purveyors of generic medicines Drug Firms Apply Brand to Generics

Ratiopharm Shortlist Expected Early This Week

The list of bidders for German generic drug maker Ratiopharm Group International is been whittled down to two, a person familiar with the situation said Tuesday Ratiopharm Shortlist Expected Early This Week

Large Pharma and Small Biotech Deals Expected to Increase in 2010

Andrew Baum, a health care investment analyst from Morgan Stanley, issued a report last week titled "Exit Research and Create Value" advising large pharma companies to drastically cut back on their in house R and D spending in favor of in-licensing drugs from biotech firms that have reached later stage studies Large Pharma and Small Biotech Deals Expected to Increase in 2010

Big Patent Expirations of 2010

While the much-talked-about patent cliff won't hit until 2011, 2010 will still see patent expirations of some of the industry's blockbuster drugs Big Patent Expirations of 2010

Sanofi Profit Up, Beats Views; Plans More Acquisitions

French drugs company Sanofi-Aventis (SNY) plans to maintain its pace of acquisitions and focus on small- and mid-sized targets Sanofi Profit Up, Beats Views; Plans More Acquisitions

Bristol, Novartis Should Help Pay for Leukemia Drug, U.K. Says

Bristol-Myers Squibb Co. and Novartis AG should pay some of the expense of treating British patients with their leukemia drugs, the U.K.’s health-cost advisory agency said Bristol, Novartis Should Help Pay for Leukemia Drug, U.K. Says

Overhaul’s Failure Will Ignite U.S. Health Mergers

Insurers, drugmakers and hospitals will likely slash costs and merge companies to maneuver through a U.S. health-care landscape marked by rising medical expenses and the loss of millions of potential paying customers Overhaul’s Failure Will Ignite U.S. Health Mergers

Abbott's buying binge may continue

As he begins a new decade as chief executive of Abbott Laboratories, Miles White hinted he may not be done wheeling and dealing even after a year of large purchases Abbott's buying binge may continue

Gene Patents Under Legal Attack

Federal court hearings continued Tuesday on a lawsuit that could transform biotechnology in the United States by eliminating gene patents Gene Patents Under Legal Attack

Slow-growing biomed sector in Bay Area needs a hand

The Bay Area’s biomedical sector eked out a 1 percent increase in jobs between 2008 and 2009, a number that may be small but one that observers say is evidence that the industry still needs to be nurtured statewide Slow-growing biomed sector in Bay Area needs a hand

Pfizer streamlines and prioritizes pipeline

Pfizer’s first updated pipeline since its acquisition of Wyeth includes fewer projects than before and is targeted to specific diseases; after the acquisition, the companies’ combined pipeline had 600 projects, but the number has been reduced to about 500. The new development pipeline, which includes both companies’ projects, includes 133 programs from Phase I through registration Pfizer streamlines and prioritizes pipeline

Glaxo Profit Beats Estimates as Savings Plan Expanded

GlaxoSmithKline reported fourth- quarter earnings per share that beat analysts’ estimates, helped by a sales boost from swine flu shots. The U.K. drugmaker plans to expand a cost-savings program Glaxo Profit Beats Estimates as Savings Plan Expanded

Pfizer Plans to Cut Research Spending By Up To $3B

The New York pharmaceutical giant outlined the aggressive cuts, which represent more than a quarter of the two companies' combined research budgets in 2008, as it reported fourth-quarter earnings of $767 million, or 10 cents a share, up from $266 million, or four cents a share, a year earlier Pfizer Plans to Cut Research Spending By Up To $3B

Novartis: no comment on talk may sell Roche stake

Rumors hit the market yesterday that Novartis might be looking to offload its ownership stake in crosstown rival Roche as a way to raise money for its buyout of the rest of eye-care company Alcon Novartis: no comment on talk may sell Roche stake

Ratiopharm auction narrows to two-way race

Israel's Teva and Iceland's Actavis, backed by Swedish buyout firm EQT, look set to battle it out for German generic drug maker Ratiopharm as the deadline for final bids approaches Ratiopharm auction narrows to two-way race

Ironwood Raises 30% Less in Biggest U.S. IPO Price Cut of 2010

Ironwood Pharmaceuticals Inc. raised 30 percent less than the drugmaker sought for its initial public offering in the biggest price cut for a U.S. IPO this year Ironwood Raises 30% Less in Biggest U.S. IPO Price Cut of 2010

Roche CEO Reckons The Drugs Will Work

It’s hardly surprising that the $47 billion takeover of Californian biotech firm Genentech last year left deep marks in Roche’s full year earnings report for 2009 Roche CEO Reckons The Drugs Will Work

Big drug groups urged to buy in test products

Large pharmaceutical groups should abandon their own early stage drug development and switch to less costly licensing from biotech companies, according to a new analysis Big drug groups urged to buy in test products

Ironwood Seeks 15% IPO Premium as Investors Lose in New Deals

Ironwood Pharmaceuticals Inc. and Imperial Capital Group Inc. will lead the busiest week for U.S. initial public offerings in two months after the first deals of 2010 were reduced or postponed Ironwood Seeks 15% IPO Premium as Investors Lose in New Deals

Novartis Sees Potential in Russia

Swiss drug maker Novartis is eyeing Russia as the next big opportunity in emerging markets, after placing a major bet on China, its chairman said Novartis Sees Potential in Russia

January 2010

Bristol CEO ‘Out Hunting’ for Deal With $10 Billion

Bristol-Myers Squibb Chief Executive Officer James M. Cornelius said his company is “out hunting” for deals and has $10 billion in cash Bristol CEO Out Hunting for Deal With $10 Billion

Biotech Feels the Effects of Age

Ten years ago, big biotechnology stocks were at an age when anything seemed possible. Investors believed the companies would make their wildest dreams come true Biotech Feels the Effects of Age

Claris talking to 3 more pharma majors for Pfizer-type deal

Claris Life Sciences, which recently entered into a drug supply pact with the largest global drug maker, Pfizer Inc, is in discussions with three other big companies for similar deals Claris talking to 3 more pharma majors for Pfizer-type deal

Selling a Health Business in the Developing World? Call Abbott

Abbott may see some familiar faces as it travels to distant lands. In the past few years, Pfizer, Sanofi-Aventis and GlaxoSmithKline have all made acquisitions or licensing deals to expand their business in emerging markets Selling a Health Business in the Developing World? Call Abbott

Pfizer trims drug pipeline after Wyeth merger

Pfizer cuts 100 drug-development projects Pfizer trims drug pipeline after Wyeth merger

Sanofi CEO says braced for generic Lovenox

Sanofi-Aventis is already anticipating the arrival of generic forms of its blockbuster anticoagulant Lovenox and doesn't view the drug as part of the company's future, its CEO said Sanofi CEO says braced for generic Lovenox

Biotech Vets Launch VenBio For Both Private And Public Deals

Biotech veterans from MPM Capital, OrbiMed Advisors, Pfizer Inc. and Morgan Stanley are out to transcend what they see as the limits of traditional life-sciences venture capital Biotech Vets Launch VenBio For Both Private And Public Deals

Galapagos to develop medicines in new strategy

Belgian biotechnology company Galapagos plans to develop its own products at its own cost and risk in a "important change of strategy", its Chief Executive Galapagos to develop medicines in new strategy

Venture Funding Stabilizes, Shifts to Biotech, Shuns Energy

Venture-capital funding for startup companies stabilized in the fourth quarter, with investor interest shifting toward drug development and away from clean energy Venture Funding Stabilizes, Shifts to Biotech, Shuns Energy

Tanabe sets new course for La Jolla laboratories

The Japanese drug company Mitsubishi Tanabe Pharma is shutting a La Jolla research facility that dates to the early 1990s and plans to start clean later this year with a new research focus Tanabe sets new course for La Jolla laboratories

Venture capitalists reawaken

Venture capitalists dramatically cut the funding they provide to start-up and growth companies in 2009, as total investments plunged to their lowest level since 1997. But in a sign that the worst could be over, the end of the year saw an uptick in both dollars and number of deals Venture capitalists reawaken

"Silent pandemic" will force drug price rethink

A "silent pandemic" of chronic disease is creeping up on poor countries and will force pharmaceutical firms to take a more tiered approach to pricing some of their most lucrative medicines "Silent pandemic" will force drug price rethink

Witty Opens GSK Library for Free Access to Malaria Research

GlaxoSmithKline Chief Andrew Witty stayed true to his word to help the world’s impoverished nations, announcing on Wednesday a strategy to bolster malaria research by opening up the company’s libraries and pledging to price vaccines at an affordable rate Witty Opens GSK Library for Free Access to Malaria Research

Biotech Financing Overview and Trends from Last Year’s Fourth Quarter

Last year started on a pretty somber note for the sector, with terms like “biotech nuclear winter” being used on a regular basis. However, after an extremely difficult first quarter, where a number of companies almost did not make it, the year ended up being decent overall Biotech Financing Overview and Trends from Last Year’s Fourth Quarter

Alcon calls Novartis offer 'grossly inadequate'

Independent directors sitting on Alcon Inc.'s board blasted Wednesday an offer to acquire the remaining shares of the eye-care company made by majority holder Novartis, calling it "grossly inadequate" and "offensive" Alcon calls Novartis offer 'grossly inadequate'

Indian biotech industry to top $10 billion by 2015

Positive triggers would propel India's biotech sector to become a ten billion dollars industry by 2015, CMD of Biocon Ltd Kiran Mazumdar-Shaw said Indian biotech industry to top $10 billion by 2015

Pfizer, Teva set to tussle for Ratiopharm

The race for German generic-drug maker Ratiopharm has practically narrowed to Israel's Teva and U.S. drug major Pfizer Pfizer, Teva set to tussle for Ratiopharm

Last-ditch lobbying battle over biotech drugs

Makers of generic biotech drugs, backed by President Barack Obama and a well-placed congressional ally, are waging an eleventh-hour battle to reduce the competitive protection that the emerging health overhaul bill would give to brand-name producers of the expensive pharmaceuticals Last-ditch lobbying battle over biotech drugs

Risk still a red flag for biotech deals

Big pharmaceutical companies want to secure new products as blockbuster drugs lose patent protection, but their limited appetite for risk may slow the pace of dealmaking Risk still a red flag for biotech deals

Brand-Name, Generic Drug-Patent Settlements On The Rise

Cash settlements between brand-name pharmaceutical companies and generic makers over drug patents are on the rise, with 19 such deals in fiscal year 2009 compared with 16 in 2008 and zero in 2004, according to a report Wednesday by the U.S. Federal Trade Commission Brand-Name, Generic Drug-Patent Settlements On The Rise

Biomedical research funding is slowing

After a decade of doubling, the rate of increase in biomedical research funding slowed between 2003 and 2007. Adjusting for inflation, the absolute level of funding from the NIH and industry appears to have decreased by 2 percent in 2008, according to a study in the Journal of the American Medical Association Biomedical research funding is slowing

2009 in Review: Headline-Making Stories in the Biotech Industry

2009 marked a year of extremes for the biotech segment. While headlines about major workforce reductions, slashing R&D projects to save money, and heightened FDA scrutiny ran rampant, good news also caught our attention. Here are the most important stories from last year 2009 in Review: Headline-Making Stories in the Biotech Industry

What's in the drug pipeline?

Find out in the annual review from Pharm Exec What's in the drug pipeline?

Pharmas are making smaller deals

The merger mania that began in the first half of the year — with Pfizer getting Wyeth, Roche getting the part of Genentech it didn’t already own and Whitehouse Station, New Jersey– based Merck getting Schering–Plough — was a pure survival strategy to minimize the pain of mass patent expirations that would have created large revenue gaps for the big pharmas over the next decade. Now that this frenzy has subsided for the moment, dealmaking is coming back to earth, and the major drug makers are looking around for deals that fit their long-term growth goals Pharmas are making smaller deals

Commission launches monitoring of patent settlements concluded between pharmaceutical companies

The European Commission can confirm that on 12 January 2010, on the basis of EU antitrust rules, it addressed requests for information to certain pharmaceutical companies asking them to submit copies of their patent settlement agreements Commission launches monitoring of patent settlements concluded between pharmaceutical companies

Big Firms Will Fight The Patent Cliff

As a wave of patent expiries on major products approaches big pharma’s shores, industry observers are calling 2010 the year of the patent cliff. Companies will continue to look for partners and purchases, both big and small, to offset the looming decline in sales Big Firms Will Fight The Patent Cliff

Icahn Considering Proxy Battle at Genzyme: Source

Billionaire investor Carl Icahn, who last year forced board changes at biotechnology company Biogen Idec Inc , may take aim at cross-town rival Genzyme Corp , according to a source familiar with the situation Icahn Considering Proxy Battle at Genzyme: Source

Teva’s Yanai Forecasts $31 Billion in Revenue by 2015

Teva Pharmaceutical Industries Ltd.’s annual revenue probably will more than double to $31 billion by 2015 as rising health-care costs push patients and policy makers toward generic drugs, Chief Executive Officer Shlomo Yanai said Teva’s Yanai Forecasts $31 Billion in Revenue by 2015

Merck And Pfizer Plan 900 Job Cuts

Call it the proverbial one-two punch. On Jan. 31, Pfizer expects to chop 400 jobs from Monmouth Junction, NJ, where Wyeth maintained research offices. And on Feb. 9, Merck will eliminate 500 jobs attached to Kenilworth, NJ, where Schering-Plough had its headquarters, although it’s not clear which types of jobs will be affected Merck And Pfizer Plan 900 Job Cuts

FDA Drug Approvals in 2009 - Up (a Little) from 2008

Last year saw big changes at the FDA — starting at the top with a new commissioner, appointed by a new administration — but you wouldn’t know it from looking at the number of drugs the agency approved FDA Drug Approvals in 2009

Top 10 outsourcing trends for 2010

The economic recovery will result in the resumption of delayed outsourcing deals and increased hiring but uncertainty remains and this could drive M&A, according to the IAOP which has listed 10 trends to watch in 2010 Top 10 outsourcing trends for 2010

Biogen Idec Launches Search for New CEO

Drug maker Biogen Idec Inc. said on Monday it has launched a search for a successor to its chief executive and president, who plans to retire this summer Biogen Idec Launches Search for New CEO

Lilly Taps Contractors to Revive Pipeline

Eli Lilly & Co., like many other pharmaceutical companies, is seeking to make its drug-development efforts more productive as it copes with thin new-product pipelines. Its approach: hiring outside contractors to run tests on its drug candidates Lilly Taps Contractors to Revive Pipeline

Former Idera Pharma CEO at Helm of AesRx, New Startup With Sickle Cell Drug

Stephen Seiler has been hunting for cash to advance an experimental therapy for sickle cell disease into initial human studies Former Idera Pharma CEO at Helm of AesRx, New Startup With Sickle Cell Drug

Game-Changing Decade Transforms Biotech Ventures

To paraphrase Winston Churchill, starting up tomorrow’s biotech firms is a bit of “a riddle wrapped in a mystery inside an enigma.” The riddle is that cutting-edge biotechnology may both increase and decrease risk Game-Changing Decade Transforms Biotech Ventures

High-tech’s hand-me-downs

Bay State’s unusually rich trove of used gear can make start-ups’ lives less expensive High-tech’s hand-me-downs