Mylan's $1.6 billion deal to buy the sterile injectable business of Strides Arcolab gets all the attention, but the company has expanded in India with several other small acquisitions on top of the big deal for Agila Specialties.
Pfizer's third-quarter results perfectly capture the forces shaping Big Pharma these days. Patent losses linger, with hundreds of millions lost to generic competition old and new. But Pfizer had growth in emerging markets and cancer sales to help stanch the flow, so overall sales only shrank by 2% to $12.6 billion. But shrink they did, and so did Pfizer's expectations for the full year.
South Korea's government is revving up regional exports of medical equipment, boosting the competitive pressures for device companies in Asia.
India supplies the U.S. with 10% of its drugs and APIs, and some of India's largest drugmakers have felt the sting of FDA citations for quality lapses as the agency steps up inspections there. The Indian drug industry, in turn, gets 90% of its raw materials from China, but it has failed to open an inspection operation there despite that country's reputation for dumping low-quality products on India.
London-based private equity investor Actis Capital is shelling out $48 million for what it calls a "significant stake" in Indian API maker Symbiotec Pharmalab. Earlier reports said it was trying to buy 25% of the company.
One big question about GlaxoSmithKline's third quarter now has a definite answer: The Chinese bribery probe took a bite out of sales in the country--and a bigger bite than analysts expected. Revenue there was down 61% for the period, as doctors and sales people alike were spooked into staying behind closed doors.
A U.S. judged has dismissed a lawsuit filed by a former Siemens Healthcare employee who claimed he was fired after exposing a hospital kickback scheme in China.
With the ink on its $10.4 billion deal for Onyx Pharmaceuticals not yet dry, it might have been exepcted to be the only thing Amgen would key on in its third-quarter earnings today.
Kona Medical nailed down $10 million in new financing to help advance its noninvasive, ultrasound renal denervation device in China, closing its Series D equity financing with Morningside Group, an international investment firm with a big presence in China and the region at large.
WuXi PharmaTech won CLIA certification for its Shanghai genomics lab, making it the first such outfit in China to meet U.S. testing standards.