Business – Health Care Industry – Yahoo! News
Business – Health Care Industry – Yahoo! News
WASHINGTON – President Barack Obama’s top health official on Thursday warned the insurance industry that the administration won’t tolerate blaming premium hikes on the new health overhaul law. Full Story;
SEATTLE – The planned buyout of Trubion Pharmaceuticals Inc. by Emergent BioSolutions Inc. cleared a regulatory hurdle Wednesday, bringing the deal, potentially worth $135.5 million, closer to closing. Full Story;
EMERYVILLE, Calif. – Onyx Pharmaceuticals Inc. said Wednesday it could receive more than $300 million through an agreement with Ono Pharmaceutical Co. Ltd. to develop and sell two potential cancer treatments in Japan. Full Story;
Idenix Pharmaceuticals (NMS:IDIX), a drugmaker, said two of its experimental hepatitis C treatments have been put on hold due to safety issues. Shares plunged 47% to 3.18. Full Story;
The drugstore giant said it will buy the home infusion unit of Omnicare in exchange for its long-term care pharmacy business. Terms were not disclosed. Separately, Walgreen said its Aug. same-store sales rose 2.1%, below views. Generic drug introductions and a decrease in customer traffic hurt sales. Shares were unchanged. Full Story;
Drugmaker Orexigen Therapeutics (NMS:OREX) jumped 18.3% to 5.43 after it sold the North American marketing rights for its experimental weight-loss drug to Japan's Takeda Pharmaceutical for more than $1 bil. Orexigen is one of three U.S. companies trying to get approval for the first new diet drug in a decade. The FDA is expected to make a decision on the drug, Contrave, by Jan. 31. Full Story;
NEW YORK – Shares of Orexigen Therapeutics Inc. surged Thursday after the drugmaker said it signed a $1 billion co-development agreement for its experimental obesity drug Contrave with Takeda Pharmaceuticals. Full Story;
, a drugmaker, said a federal appeals court upheld patents protecting its osteoporosis treatment Evista. The court also upheld a decision invalidating portions of its patents. Shares fell 1.8%. Full Story;
will buy privately held FoldRx Pharma, a developer of treatments for diseases caused by protein misfolding, for an undisclosed amount. Shares rose 2.3%. Full Story;
MONTGOMERY, Ala. – A federal appeals court has denied former HealthSouth CEO Richard Scrushy’s request to be released from prison on bond. Full Story;
BISMARCK, N.D. – Supporters of a voter initiative that could help bring cheaper prescription drugs to North Dakota are hoping a legal technicality won’t keep them from getting the issue placed on the ballot. Full Story;
NEW YORK (Reuters) – A former hedge fund manager has been accused by a U.S. regulator of illegal insider trading in MedImmune Inc securities prior to the acquisition of the pharmaceutical company by Britain's AstraZeneca Plc. Full Story;
NEW YORK – Pfizer Inc. said Wednesday it will buy privately held FoldRx Pharmaceuticals Incl. for an undisclosed amount, expanding its pipeline of potential products. Full Story;
The drugmakers' rival anti-clotting drugs both proved safe and effective in clinical trials. Bayer's (OTCBB:BAYRY.ob – News) Xarelto helped dissolve potentially deadly clots in the legs and prevented new ones. Bristol-Myers Squibb's apixaban, commercialized with help from with Pfizer , reduced the risk of stroke by 52% vs. aspirin, researchers said. Full Story;
STOCKHOLM (Reuters) – Rival anti-clotting drugs from Bayer (BAYGn.DE) and Bristol-Myers Squibb both impressed in clinical trials, keeping them firmly in the race to displace the old, problematic heart drug warfarin. Full Story;
NEW YORK (AFP) – The board of directors at US biotechnology firm Genzyme has unanimously rejected an 18.5-billion-dollar takeover offer from French pharmaceutical giant Sanofi-Aventis, Genzyme said Monday. Full Story;
PARIS (AFP) – French pharmaceutical group Sanofi-Aventis unveiled Sunday an 18.5 billion dollar (14.5 billion euro) offer for US biotechnology firm Genzyme, hinting it may launch a hostile bid. Full Story;
ZURICH (Reuters) – Swiss drugmaker Roche Holding AG said on Sunday it would not make any decision on job cuts this week, after Swiss newspaper Sonntag reported it could be about to cut thousands of positions. Full Story;
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