Between 2009 and 2013, U.S. biopharma eliminated at least 156,000 American jobs, including scaling back R&D departments, slashing sales teams, and eliminating redundancies in post-merger workforces. Since then, the industry has continued to slice and dice sections of its employment base, particularly in the wake of a record level of M&A activityin the sector (there were 182 biopharma deals totaling $212 billion in 2014 alone, and 2015 looks on pace to beat that record). The Wall Street Journal points out that Pfizer, for example, has a habit of snapping up big companies and then chopping up jobs as it realizes synergies from those deals. Read More
Speeding Up Drug-Approval Process Could Have Downside
Would a congressional bill designed to jump-start medical innovation end up lowering standards for approving new uses of existing medicines?
Consumer advocates are raising this concern about the 21st Century Cures legislation, which passed the House Energy and Commerce Committee unanimously last week and, in part, is designed to reform the approval process for drugs. Supporters say the bill is a long overdue move that, among other things, will give the FDA the tools to ensure treatments reach patients faster. Read More
PDS Biotechnology announces positive results
Pfizer’s (PFE) Rapamune Receives FDA Approval as LAM Treatment
Otsuka loses lawsuit challenging FDA approval of generic Abilify
Otsuka Pharmaceutical Co Ltd has lost a lawsuit challenging the U.S. Food and Drug Administration’s decision to allow generic versions of the company’s antipsychotic drug Abilify.
At the end of April, the FDA approved applications to make Abilify by several generic drugmakers, including Teva Pharmaceutical Industries Ltd, which immediately announced it would launch its own version. Read More