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 >>
Bristol-Myers Squibb, among the least active of Big Pharma players in emerging markets so far, is starting to make some moves--at least in China. Bristol-Myers has entered a collaboration on Orencia SC with Simcere Pharmaceutical Group, its second China-related partnership this year.
DKSH, the Asia-focused drug marketer, has expanded its heft in South Korea, opening a new distribution in Seoul aimed to help its medical device clients place products around the country.
There's no shame in a company extending a bidding deadline in hopes of attaining a better offer. But after extending its deadline for the fourth time Thursday to June 14, Serbia's state-run drugmaker Galenika Pharmaceuticals may be starting to feel a bit unwanted.
Smith & Nephew is pursuing a massive share repurchasing program and continuing a quest for new acquisitions.
Covance is counting on Asia for an explosion in drug development, and the company has expanded its core lab capacity by 50% in Singapore to serve the growing market for clinical testing in the region.