Treasury Secretary Jacob Lew yesterday unveiled a plethora reforms to make tax inversion more difficult and less attractive, potentially killing a plethora of pending mergers with foreign companies, including Medtronic's $43 billion tie-up with Ireland's Covidien.
Digital health investor Rock Health has added 8 startups to its portfolio, bringing the number of active companies in its network up to 55. And with one of the startups focusing on life science R&D and Abbott among its new corporate partners, the incubator has strengthened its ties to drug development.
Mitsui, a Japanese conglomerate whose investments run from steel to luxury goods, has upped its stake in Indian API maker Arch Pharmalabs, saying it likes the future of drugmaking.
After 15 months of planning, AbbVie has split away from Abbott, complete with a pipeline of more than 20 mid- and late-stage therapies, $18 billion in revenue and a commercial operation that spans the globe.
St. Jude Medical ($STJ) signed up its first patient enrollment in a massive, international clinical trial that will test the use of its Ilumien imaging system to guide stent implantation in patients with coronary artery disease.
Now that Abbott Laboratories is getting out of the enteral tube feeding business in the U.S., Covidien sees a blaring opportunity to cash in, and the company has ramped up production of its Kangaroo pumps and sets.
The evolution of hepatitis C treatment threatens to leave today's dominant companies with fossilized offerings. Vertex and Merck have the state-of-the-art approved drugs against the virus, but both companies are chasing after Gilead Sciences, Abbott Laboratories and others with programs that could be the first to win market approval with pill-only options. Read the full report >>
Medical device researchers and companies are advancing what was once science fiction in the device and medical equipment realm ever closer to market reality. Even major companies such as Abbott and Boston Scientific are becoming futuristic. Both this year have achieved major milestones with medical devices as ubiquitous as stents and ICDs, updating both products with innovative, life-saving twists. Check out the slideshow >>
A little more than a year after Vertex licensed in a pair of "nucs" from Alios BioPharma in a high-stakes bid to develop an oral, interferon-free approach to hepatitis C, Vertex is jettisoning one as a dud while racing ahead with the second into a mid-stage study slated to begin in a matter of weeks.
Despite an overall 11% drop in second-quarter earnings, Abbott Laboratories reported growth in its diagnostics business, profiting from an increased focus on the sector over the past year.