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EU fines drugs firms 150 mn euros for delaying cheap generics

Agence France-PresseJune 19, 2013 12:31
The EU executive on Wednesday imposed hefty fines of around 150 million euros on pharmaceutical firms including Denmark's Lundbeck for colluding to delay the sale a decade ago of a cheap generic version of a widely sold anti-depressant. Lundbeck was fined 93.8 million euros by the European Commission for striking a 2002 agreement with producers of generic drugs to delay the introduction on the market of its popular anti-depressant, citalopram.

EU fines Denmark's Lundbeck 94 mn euros in generic drugs case

Agence France-PresseJune 19, 2013 08:03
The European Commission imposed a fine of 93.8 million euros against Danish pharmaceutical firm Lundbeck for colluding with generic producers to delay the market entry in 2002 of a popular anti-depressant. The generic drugs producers were fined 52.2 million euros for breaching competition rules by agreeing to delay the sale of cheaper generic versions of Lundbeck's branded citalopram, a blockbuster antidepressant. ccr/fb

EU fines Denmark's Lundbeck 94 mn euros in generic drugs case

Agence France-PresseJune 19, 2013 08:02
The EU executive on Wednesday imposed a fine of 93.8 million euros on Danish pharma firm Lundbeck for colluding with generics producers a decade ago to delay the sale of a cheap version of a popular anti-depressant. The generics producers were also fined 52.2 million euros for breaching antitrust rules by agreeing in 2002 to delay the sale of generic versions of Lundbeck's branded citalopram, a widely selling antidepressant.

AstraZeneca, Bristol diabetes drug disappoints in key test

June 19, 2013 03:01
By Ben Hirschler LONDON (Reuters) - AstraZeneca and Bristol-Myers Squibb's diabetes drug Onglyza failed to reduce heart risks in a large clinical study, disappointing investors who had thought it might demonstrate an edge over rivals. The companies, which jointly sell several diabetes drugs, said on Wednesday the so-called SAVOR trial showed that patients on Onglyza had no fewer adverse cardiovascular events, such as heart attacks and strokes, than those on placebo.

AstraZeneca turnaround is three-four year journey, says CEO

June 18, 2013 13:30
LONDON (Reuters) - Turning around drugmaker AstraZeneca will be a long haul, with a strategy of revamping research and boosting acquisitions set to take up to four years to pay off, its chief executive said on Tuesday. Speaking as the group unveiled the location for a new global headquarters and research center in Cambridge, England, Pascal Soriot said he was not expecting any short-term fixes for the group, which is struggling from falling sales as patents expire.

U.S. court finds Novo Nordisk Prandin diabetes drug patent invalid

June 18, 2013 17:00
(Reuters) - A U.S. appeals court found the patent on Novo Nordisk's Prandin diabetes drug in combination with metformin to be invalid, paving the way for introduction of a generic version of the medicine, the Danish drugmaker said on Tuesday. In a 2-1 ruling, the U.S. Court of Appeals affirmed a district court ruling handed down in 2011, the company said. Novo said it still believes the patent to be valid and was reviewing the ruling.

Ex-Bristol-Myers Squibb exec in NJ admits using secret info to make $310,000 on insider trades

The Canadian PressJune 10, 2013 18:35
TRENTON, N.J. - Federal prosecutors in New Jersey say a former executive for biopharmaceuticals company Bristol-Myers Squibb has admitted using his high-level position and access to nonpublic information to make about $310,000 from insider trades. Robert Ramnarine pleaded guilty Monday to securities fraud. The 46-year-old East Brunswick resident faces up to 20 years in prison and a $5 million fine when he's sentenced in September.

France recalls diuretic drug after pill 'mixup'

Agence France-PresseJune 10, 2013 15:36
France's health regulator on Monday recalled a diuretic used to control high blood pressure after some packets of the drug were found to contain sleeping pills -- a mistake feared linked to two deaths. Stressing this was a precautionary measure, the ANSM regulatory agency urged people to return all boxes of Furosemide Teva 40 mg to their pharmacists. The agency suspended sales of two batches of the drug last Friday after a pharmacist reported sleepiness in a patient.

'Suspicious' death in France after medicine alert

June 9, 2013 11:31
MARSEILLE/PARIS (Reuters) - French police are investigating the death of a 92-year-old man as "suspicious" after he was given medicine that may have been wrongly labeled as a diuretic drug, a police representative said on Sunday. The man's death on Saturday was two days after France's pharmaceutical watchdog ANSM asked pharmacies to take off the shelves 190,000 boxes of the diuretic furosemide supplied by Israeli drugmaker Teva, saying that they may contain the sedative zopiclone.

High doses of common painkillers increase heart attack risks

May 29, 2013 19:48
By Kate Kelland LONDON (Reuters) - Long-term high-dose use of painkillers such as ibuprofen or diclofenac is "equally hazardous" in terms of heart attack risk as use of the drug Vioxx, which was withdrawn due to its potential dangers, researchers said on Thursday.
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