LONDON (Reuters)—GlaxoSmithKline, AstraZeneca and Johnson & Johnson have joined with three leading British universities to create a new 40 million pounds ($57 million) fund backing early drug research. The Apollo Therapeutics Fund, which aims to improve the speed and potential of university research being translated into new medicines, is a further example of a trend…
Major Drugmakers Push Back in U.S. Price Debate
SAN FRANCISCO (Reuters)—With a backlash brewing over the price of medicines in the U.S., drugmakers are pushing back with a new message: Most people don’t pay retail. Top executives from Eli Lilly and Co, Merck & Co and Biogen Inc. said in interviews with Reuters this week that the media focus on retail, or “list…
Healthcare Investors Brace for Busy Week as U.S. Conference Kicks Off
(Reuters)—Healthcare investors can expect a volatile week starting on Monday when the sector’s biggest financial event hits San Francisco. The annual JP Morgan healthcare conference, in which many healthcare companies present product and financial news to would-be investors, has been credited for helping the January out-performance of the healthcare sector in recent years. But after…
NIH-Funded Trials Dip While Industry Trials Are on the Rise
(Reuters Health)—Every year since 2006 in the U.S., the number of clinical trials funded by the National Institutes of Health (NIH) has gone down, while the number of industry-funded trials has gone up, a new study shows. Analyzing the ClinicalTrials.gov database, researchers found that after trial registration became a requirement for publication in major scientific…
Drug Approvals Top 2014 High, but R&D Returns Still Struggle
LONDON (Reuters)—The number of new drugs approved in the U.S. this year has already topped last year’s 18-year high, yet large pharmaceutical companies are still struggling to get a decent return on their research dollars. In fact, returns on research and development (R&D) spending by the world’s top drug makers have fallen to just 4.2%,…
Pfizer to Buy Allergan in $160 Billion Deal
NEW YORK (Reuters)—Pfizer Inc. on Monday said it would buy Botox maker Allergan Plc. in a deal worth $160 billion to slash its U.S. tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would shift Pfizer’s headquarters to Ireland, would be the biggest-ever tax inversion. The news prompted Democratic presidential…
Drug Makers Inconsistent in Sharing Clinical Trial Data
(Reuters Health)—Drug companies are inconsistent about disclosing data related to clinical trials of new medicines, a new report says. Researchers examined publicly available data on clinical trials for 15 new medicines from 10 companies that were cleared for sale by the U.S. Food and Drug Administration in 2012. Two of the companies disclosed all trials…
Signatures to Be Filed for California Drug Price Referendum
SACRAMENTO, Calif. (Reuters)—Backers of a referendum aimed at reducing the cost of prescription drugs in California said Wednesday that they had gathered more than enough signatures to place their measure on the November 2016 ballot in the most populous U.S. state. The measure by the AIDS Healthcare Foundation would require the state to pay no…
Transatlantic Divide: How U.S. Pays Three Times More for Drugs
LONDON (Reuters)—U.S. prices for the world’s 20 top-selling medicines are, on average, three times higher than in Britain, according to an analysis carried out for Reuters. The finding underscores a transatlantic gulf between the price of treatments for a range of diseases and follows demands for lower drug costs in America from industry critics such…
Glaxo’s Move on Physician Compensation Could Signal Shift in Pharmaceutical Promotions
GlaxoSmithKline has decided to stop paying physicians to promote its products and to cease tying sales-representative compensation to the number of prescriptions physicians write. (posted Feb. 14)