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Save the Children, drug company GSK announce new partnership to save children's lives

The Canadian PressMay 11, 2013 05:16
NAIROBI, Kenya - GlaxoSmithKline is giving Save the Children $23 million and entering into a five-year partnership with the charity to try to save the lives of 1 million children. The chief executives of the two groups visited a remote health clinic in Kenya on Thursday where they spoke to a mother who said she had three children die of diarrhea. Justin Forsyth, the head of Save the Children, said the mother told him and GSK chief executive Andrew Witty that she was devastated by the deaths, but was happy that her 5-year-old daughter was getting treatment for pneumonia.

Merck sales rep files lawsuit saying company discriminates against women and pregnant women

The Canadian PressMay 9, 2013 14:03
NEW YORK, N.Y. - A Merck Kelli Smith, who has worked at Merck since 2004, says in the lawsuit that the company's sales plans create incentives to discriminate against women, that women are discouraged from advancing their careers and are told they have to choose between having being mothers and taking bigger roles at the company, and that men get more opportunities to meet senior managers and develop important contacts. She said the company retaliated against her for drawing attention to the issues.

New US website makes clinical trials easy to find

Agence France-PresseMay 1, 2013 21:45
A US doctor has created a website to make it easier for the world's sickest people to connect with research that could potentially save their lives. The non-profit endeavor known as MyClinicalTrialLocator.com aims to become "the Wikipedia of clinical trials," by allowing a quick and free search for studies at academic centers around the globe, said its founder Bruce Moskowitz.

U.S. sues Novartis, alleging kickbacks to pharmacies

April 23, 2013 17:15
By Bernard Vaughan and Jonathan Stempel (Reuters) - The U.S. government filed a civil fraud lawsuit against Novartis AG <NOVN.VX> on Tuesday, accusing a unit of the Swiss drug maker of causing the Medicare and Medicaid programs to pay tens of millions of dollars in reimbursements based on fraudulent, kickback-tainted claims.

Thermo Fisher to buy Life Tech for $13.6 billion

April 15, 2013 08:00
By Bill Berkrot and Susan Kelly (Reuters) - Thermo Fisher Scientific Inc <TMO.N> on Monday agreed to buy Life Technologies Corp <LIFE.O> for $13.6 billion (8.8 billion pounds) in a deal that would make it one of the top companies in the hot field of genetic testing. The pact values Life Tech at $76 per share, a 12 percent premium, and is one of the year's biggest corporate takeovers.

AstraZeneca suffers fresh drug patent setback in U.S.

April 2, 2013 03:15
LONDON (Reuters) - AstraZeneca <AZN.L> has suffered a fresh patent setback with a U.S. court decision that a patent protecting its Pulmicort Repsules asthma treatment is invalid, clearing the way for a generic copy from Actavis <ACT.N>. The ruling comes as AstraZeneca is already facing a big fall in sales due to patent expiries on other medicines, prompting a $2.3 billion (£1.5 billion) restructuring plan and further job losses announced by new CEO Pascal Soriot last month.

Novartis loses landmark India cancer drug patent case

April 1, 2013 02:00
By Kaustubh Kulkarni and Suchitra Mohanty MUMBAI/NEW DELHI (Reuters) - India's top court dismissed Swiss drug maker Novartis AG's attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.

Novartis boss admits mistakes after pay-off row

February 22, 2013 11:16
The outgoing chairman of Swiss pharmaceuticals giant Novartis acknowledged Friday that he had made "mistakes" in connection with a scandal over a massive golden handshake he finally agreed to forego. "I have committed two mistakes that could have been avoided," Daniel Vasella told the Novartis general assembly on his last day on the job. The first, he said, had been to accept a goodbye package of a whopping 72 million Swiss francs ($77 million, 59 million euros), meant to ensure that he doesn't go work for any Novartis rivals.

AFP World Economic News Summary

February 19, 2013 10:30
The top world economic stories on Tuesday: Switzerland-pharma-business-pay-Novartis ZURICH: The outgoing head of Swiss pharmaceuticals giant Novartis, Daniel Vasella, has agreed to give up a massive pay-off, he said after a nationwide storm of protest. Europe-food PARIS: The world's biggest food company, Swiss-based Nestle, and the world's top beef producer, JBS of Brazil, were the latest in a long list of firms to be embroiled in Europe's spiralling horsemeat scandal. Germany-economy-confidence-ZEW

Novartis head gives up pay-off after storm of protest

February 19, 2013 05:30
The outgoing head of Swiss pharmaceuticals giant Novartis, Daniel Vasella, has agreed to give up a massive pay-off, he said on Tuesday, after a nationwide storm of protest. "I have understood that many people in Switzerland find the amount of the compensation linked to the non-compete agreement unreasonably high, despite the fact I had announced my intention to make the net amount available for philanthropic activities," Vasella said in a statement released by Novartis.
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