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7/15 Ranbaxy Caves In To Feds' Demands; Fallout Looks Bad
Ranbaxy agrees to release records to prosecutors … agreed to release the internal audit reports before the government filed a July 3 motion asking a judge to compel the company to turn them over …[Star Ledger]
Ranbaxy Has Biggest Decline Since 2001 on U.S. Probe … We believe there could be close to 50 percent downside to the stock if Daiichi Sankyo were to withdraw its current offer to buy a majority stake in the company …[Bloomberg]
India's Ranbaxy Challenged by U.S. on Generic Drugs … Federal government is seeking a court order to force the Gurgaon, India-based company to turn over an audit that it says will prove Ranbaxy distributed ``adulterated and misbranded products … the company refused to turn over Parexel Consulting's report, claiming it is protected by attorney-client and work- product privileges …[Bloomberg]
7/15 Mirapex Patent Loss; B.I. Dissolves 1/2 Of Neuro Specialty Force
Boehringer Ingelheim Cutting Neuro Sales Reps … half of the neuro sales team - may be shifted to primary care sales forces or another specialty team, if jobs can be found. But there were no guarantees …[Pharmalot]
7/15 FDA Issues Avastin Alert; Anemia Link
Genentech's Avastin Tied To Several Cases Of Anemia … has been tied to the development of anemia in several patients … patients who took Avastin in combination with Sutent, another cancer drug, reported microangiopathic hemolytic anemia …[CNN]
Genentech ends studies on drug combo safety issue … [AP]
7/15 Glaxo Sets Aside $3 Bilion For Experimental Sleeping Pill
GSK to pay Actelion up to $3.3 bln for drug rights … Seeping pill almorexant … class of drugs known as orexin antagonists which are designed to block receptors for brain chemicals that maintain wakefulness and regulate the sleep-wake cycle …[ Reuters]
Amgen's FDA Nplate approval statement retracted … in fact still under review by the FDA and the company expects a decision by July 23 …[AP]
7/15 Amgen: Denosumab Protected Prostate Cancer Bones
Drug prevents bone loss in prostate cancer - Amgen … bioengineered antibody that targets a protein involved with bone-destroying cells called osteoclasts -- is seen as key to Amgen's future …[Reuters]
7/15 Wyeth Prevails In HRT Appeal
Ark. judge tosses $27M award in hormone drug suit … Premarin and Prempro carried an increased risk of breast cancer. The suit also involved Upjohn's Provera … failed to provide expert analysis, testified beyond limitations established by pretrial orders, testified in areas beyond her expertise …[CNN]
7/15 Doribax For Hosp Pneumonia: FDA Staffers Have "Major Concerns"
FDA questions testing of J&J pneumonia antibiotic … Doribax appears safe, but questions effectiveness of J&J pneumonia antibiotic … hospital-acquired pneumonia, which is often more virulent than other strains. On Wednesday the FDA will seek input on the drug's safety …[ CNN]
Editor's Note: Doribax' chemical name is Doripenem.
7/15 Vernakalant Oral Appears Effective; Company Shooting For AFF
Cardiome says trial of heart drug was positive … reduced the rate at which patients in a study relapsed into irregular heart rhythm … aiming for U.S. market approval for the drug, designed to prevent an abnormal heart rhythm known as atrial fibrillation from recurring, by late 2012.… [Reuters]
7/15 HMO Share Prices Join Pharma In Toilet
Health Care: Sick And Getting Sicker … Morgan Stanley Healthcare Payors Index has plunged more than 43% since January, compared to the 15% year-to-date loss in the S&P 500 Index. …[Forbes]
Editor's Note: Mentions Aetna, Humana, Wellpoint; sell-siders are bullish but despite prevailing low prices (or maybe because of them)
7/15 Internet Drug News Miscellaneous Short Takes:
FDA Updates Label for AVANDIA(R): Glycemic Control for Up to Five Years
Glaxo Press Release
Roxane: Voluntary Recall of Two Lots of Sodium Polystyrene Sulfonate Suspension
Roxane Press Release
India's Ranbaxy shares fall 10.5 pct on U.S. probe
Reuters
Amgen osteoporosis drug does well in test
LA Biz Journals
Beta Blockers Help Hospitalized Heart Failure Patients
HealthDay
Abbott Has Worker Class Action Suit On Its Hands
Reuters
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