It looks as if user fees really are in the offing for generic drugs. After generics makers said last week that they’re supporting the idea as a way to speed approvals of their products, FDA Commissioner Margaret Hamburg backed it, too. Revamping the current approvals process is “critical,” she said, because agency funding won’t provide [...]
Medco Health Solutions Inc’s (MHS.N) quarterly profit rose 11 percent on increased mail deliveries of generic drugs, but its shares fell as the report failed to excite investors. The U.S. pharmacy benefit manager reported a fourth-quarter profit, excluding special items, that matched Wall Street’s target and it backed its 2011 forecast. Its shares fell 4.5 [...]
Two U.S. senators have revived the reimportation debate with a new bill co-sponsored by a bipartisan group of their fellows. Sen. Debbie Stabenow (D-Michigan) is teaming up with Sen. Olympia Snowe (R-Maine) on the proposal, which would allow U.S. pharmacies and drug wholesalers to source products from other countries with “tough safety standards.”
Zymes, a New Jersey-based biopharmaceutical company, has received a two-year $476,000 grant from the Michael J Fox Foundation (MJFF), under the Therapeutics Development Initiative Fall 2010 Program, to evaluate the effectiveness of WS-CoQ10 in stopping the progressive loss of dopamine nerve cells in animal models of Parkinson’s disease (PD).
MedTrust Online and Avantra Biosciences have entered into a partnership to involve clinicians in the earliest stages of molecular diagnostic assay development for Avantra Biosciences’ revolutionary QPDx multiplex immunoassay system.
Fierce Medical Device’s first annual look at the top 10 VC deals of the year. Venture capital investment in the medical device industry fell 9 percent in 2010, ending the year as the fourth largest investment sector with $2.3 billion going into 324 deals. That’s up slightly over 2009, when medical devices ranked third among [...]
Sanofi-Aventis continues its diversification march. The company got the FDA’s permission to sell its blockbuster allergy treatment Allegra without a prescription. Sanofi has been hoping for that OK to bolster its U.S. consumer healthcare business that was created last year with the $1.9 billion purchase of Chattem.
Researchers from VTT Technical Research Centre of Finland and the University of Turku have discovered four metabolic enzymes regulating prostate cancer cell growth. Inhibition of these enzymes prevents prostate cancer cell growth in cultured cells. This knowledge can be used to identify different subtypes of prostate cancer and for designing targeted therapies for prostate cancer.
Pharmaceutical companies in India are growing at a very fast pace and this has made the Indian pharmaceutical industry as the second largest growing industry. Also the pharmaceutical industry in India is the third largest in the world, which will be of US$20 billion by 2015. Mergers and acquisitions are the part of this growth. [...]
With two antiviral drug candidates in the clinic, Durham, NC-based Chimerix has raised $45 million in a Series F round of financing. New Leaf Venture Partners led the round. The firm was joined by new investors Pappas Ventures and Morningside Group and existing contributors Canaan Partners, Sanderling Ventures, Alta Partners, Asset Management Company and Frazier [...]
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