Bill Wells

ALSO NOTED: Novartis buys bigger stake in Alnylam; FDA chastises ZymoGenetics' marketing campaign;and much more...

Thu, 08 May 2008 06:59:50 -0400

> Novartis has scooped up a bigger share of Alnylam stock. The pharma giant now owns 13.3 percent of the company. Alnylam release

> Curious how the FDA might spend its PDUFA fees? A new five-year plan shows that FDA will plow the money into post-marketing safety to meet its commitments under the new law passed last fall. FDA report

> The FDA has chastised ZymoGenetics' maiden effort to commercialize a therapy, saying that its claims for a genetically engineered form of Thrombin are "false or misleading." ZymoGenetics' marketing material notes that the drug has a lower level of antibody formation compared to a competitor, creating the impression that bovine thrombin's antibodies are less safe. Story

> Genzyme has expressed an interest in setting up an Israeli biotech incubator. Report

> Proteome Sciences said it has won a grant of €571,000 to study the proteomics end of a new generation of in-vitro assays. Report

> Did GlaxoSmithKline try to monopolize the Wellbutrin market? A lawsuit now certified as class-action says so. GSK report

> Will today's Congressional hearing on drug ads lead to new legislation? That's what Michigan Democrat--and vocal pharma critic--Bart Stupak hopes. DTC report

> New CEOs often clean house. Biovail's Bill Wells looks like he's trying to gut and rebuild it. The company announced it would shutter two plants in Puerto Rico as it shifts focus to specialize in central nervous system meds, "a market where unmet medical needs and growth potential are high," Wells said. Biovail report

> Merck's layoffs have inspired one newly unemployed poet to write in verse. Report

And Finally… Vaccine experts are pondering just how long vaccines will be able to provide immunity in a world where some diseases are all but eliminated and natural exposure to many common viruses has ended. Vaccine report

ALSO NOTED: U.S. hatches $265M regenerative medicine initiative; Merck KGaA budgets €1B for R&D;and much more...

Tue, 22 Apr 2008 06:59:50 -0400

> The U.S. government is creating a $265 million research initiative that will develop new stem cell technology to re-grow the skin, limbs and muscles of soldiers injured in Iraq and Afghanistan. And those advances in turn will be made available to the people burned and maimed in everyday accidents. Report

> With about 40 drug development projects in the pipeline, Germany's Merck KGaA says it will spend about €1 billion on drug research this year. That R&D budget represents about 22 percent of sales and is a big increase on last year's budget of €890 million. Report

> University of Cincinnati researcher Melissa DelBello is getting some added scrutiny after finding herself in Senator Charles Grassley's crosshairs. Report

> Call it the blame game. The U.S. FDA says it's traced contaminated heparin back to 12 companies in China. Chinese officials, however, claim the problem started in the U.S. Report

> To listen to news reports about incoming Biovail CEO Bill Wells, you'd think he was one of the horsemen of the Apocalypse. A director for three years, Wells is set to take over the helm May 1, and analysts say they're expecting him to come in swinging his sword. Report

> A new guerilla marketing campaign for over-the-counter Zyrtec is gaining attention in the blogosphere. Report

> Eye on FDA blogger Mark Senak examines recent goings-on at the FDA will change the agency. Report

And Finally... Companies are using nanotechnology as they pursue genome sequencing for the rock-bottom price of $100. Report

Biovail picks Wells as CEO

Mon, 21 Apr 2008 06:59:57 -0400

Canadian drugmaker Biovail has named a new chief to take the reigns from interim CEO Douglas Squires. William Wells has been appointed Biovail's new CEO, effective May 1, 2008. He's been on the company's board since 2005, and has been lead director since June 2007. The company has been in search of a permanent CEO since last year after Biovail's founder and chief Eugene Melnyk (photo) retired while being investigated for accounting fraud.

"Biovail is a great company with outstanding potential to deliver enhanced value for its shareholders. I look forward to executing the Company's new strategic plan, which is currently being developed by the Board and management," Wells said in a statement. No word yet on when we'll see the details of that plan.

- here's the release
- read the WSJ report

Related Articles:
Melnyk slams Biovail board, calls for change. Melnyk report
Biovail drug launch draws feds' scrutiny. Biovail report
Biovail shares sink after FDA schedules review. Biovail report
FDA hands Biovail a non-approval letter. FDA report
Biovail's Melnyk to step down amid SEC probe. Melnyk report