Worst Biotech CEO for 2012…..
source There is nothing like a drop in stock price to upset investors and employees who are counting on a biotech ceo to deliver the goods and make everyone not only rich, but also validate their decision to bet on an ambitious little company. But not every investor or employee is a winner, and that […]
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$700,000 in Gold Dust Missing At Pfizer Labs
source As Pfizer looks to cut millions of dollars in expenses, one way that ceo Ian Read can save money is to ask the folks who run the labs not to leave gold dust lying around. Why? About $700,000 in gold dust has gone missing from a Pfizer lab in Chesterfield, Missouri, and it remains […]
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Merck Gets Reversal in Sales Rep Retaliation Suit
source A federal appeals court has reversed a $555,000 jury verdict that was awarded early last year to a former Merck sales rep, who claimed she suffered retaliation after complaining about her supervisor. Specifically, Jennifer Scott charged she lost her job in 2008 because she refused to charge expenses to her credit card that were […]
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Congress Guns for Drug Compounding Trade Group
source This was bound to happen. Amid the ongoing scandal over compounding pharmacies and regulatory oversight, the House Energy & Commerce Committee is now investigating the trade group of compounding pharmacies over concerns the organization may have deliberately instructed its members a year ago to impede an FDA review of ingredients used for a compounded […]
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625 Jobs Cut at Astrazeneca
source The bleeding continues. AstraZeneca is eliminating up to 625 jobs from its operations in Germany in response to difficulties replenishing its product pipeline and pricing cuts imposed by the government, according to a statement on its web site. The cuts are being made due to “delays in the research and development of new […]
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Another Lab Suspended For Faking Tests Results
source Yet another company has been caught falsifying results. The latest to run afoul of regulators is Chemi Pharmaceutical, a contract laboratory based in Ontario that serves some drugmakers in Canada and – ironically – boasts that it specializes in quality control testing, method development and validation, and stability studies. Health Canada, however, says […]
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Aspirin Coating May Hurt Drug Benefits
source The coating on aspirin to protect your stomach could camouflage the benefits for some patients, according to a new study. And the finding may influence doctors to prescribe more costly prescription drugs, although the main objective was to test the idea that aspirin does not prevent heart attacks or strokes in some people. […]
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Novartis Tells UK to Speed Up Drug Approvals or Else
source Frustrated by the process in the UK for approving and adopting the use of new medicines, Novartis has arranged a sort of showdown with a group of government officials, scientists and trustees from the National Health Service in which the drugmaker intends to offer a blunt statement – improve the process or investment, and […]
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FTC Charges Warner Chilcott With Product Hopping
source In its latest bid to level the playing field for generic drugs, the US Federal Trade Commission has filed a supportive brief in a lawsuit charging Warner Chilcott with concocting various schemes to thwart generic competition for its Doyrx acne pill. The lawsuit was filed last July by Mylan Laboratories, which claims the tactics […]
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Which Pharma Companies Provide Access to Poor?
source There is a metric for everything. So why not a metric for gauging which drugmakers are doing a good job of providing medicines to those in the poorest countries? This is what the Access to Medicine Foundation does every two years and its latest ranking shows that GlaxoSmithKline has come out on top. Moreover, […]
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