The Persian Gulf is the newest emerging market for Big Pharma, the Wall Street Journal reports. Drugmakers have jumped on that opportunity, as evidenced by the number of new plants and distribution facilities they are putting there.
Are the BRIC countries passé in Big Pharma? Not exactly. But multinational pharma's newest trend lies in the Persian Gulf, the Wall Street Journal reports.
Two of the biggest players in Brazil's diagnostics industry are likely to confront major changes in the coming months--both worth noting as global competitors seek to enter one of the largest emerging markets around.
Varian Medical Systems reported yesterday that revenues during its first fiscal quarter jumped 5% from the same period a year ago to $712 million, and net income rose 3% to $98 million. The company cited particularly strong demand for its oncology products, which include equipment for performing radiosurgery and software that physicians can use in treatment planning.
After rolling out its weight-loss drug Qsymia solo, a move that spurred plenty of shareholder discontent, Vivus is taking marketing partnerships for erectile dysfunction drug Stendra seriously. Thursday, it announced a deal with Sanofi that covers licensing and commercialization in emerging markets.
Meeting next year's minimum revenue goal of $20 billion will be "challenging," Eli Lilly says, and analysts are already speculating about "savage" cost cuts if R&D doesn't come through as Lilly hopes.
A week after Cleveland's nascent biotech accelerator BioMotiv bumped its financial reserves to $46 million, Torrey Pines Investment has stepped in to offer a $20 million commitment and close ties to the Russian drug development industry to back a joint effort to spawn new translational drug efforts around the globe.
EP Vantage--an arm of EvaluatePharma--put its analysts to the task of examining employment numbers in the biopharma industry and pinpointed which companies are doing the most hiring and firing. The overall amount of downsizing isn't quite as big as you may have been led to believe.
Police visited AstraZeneca's operations in Huangpu Friday and took a sales rep away for questioning, Reuters reports. The company said the visit was part of a "local police matter" and tried to distance itself from the fast-moving GlaxoSmithKline bribery scandal.
After a run of fairly earthbound price tags in 2012, the titans of med tech have loosened their billfolds this year, stringing together multibillion-dollar deals across devices and diagnostics. Read on for a look at the trends driving 2013's buying sprees and a glimpse at what's perhaps to come as the industry gets brave in the checkout line. More >>