Biosimilars are expected to become a significant piece of the generics business worldwide, and Alvogen is spending $250 million to build a facility in Iceland to develop and manufacture biosimilars.
MIT scientist and entrepreneur Robert Langer is co-founding yet another new med tech company, this time in France. Gecko Biomedical debuts with nearly $11 million in Series A financing, focused on a light-activated, biodegradable, non-toxic adhesive designed to close wounds inside the body.
Ariad Pharmaceuticals seemed to dodge a bullet last month when the European Medicines Agency chose not to follow its U.S. counterpart, letting the troubled Iclusig stay on the market. Now, the regulator is reopening the books on Ariad's cancer drug, reviving concerns about the company's sole product and sending its shares down about 10%.
Medtronic announced Thursday it has approval in the EU and Australia to market its new system for renal denervation to treat uncontrolled hypertension.
The past few weeks have seen a spate of pharma manufacturing cuts, with Actavis, Merck and Pfizer all whacking jobs. And Pfizer has continued its busy end to 2013 by revealing it is to close a packaging plant in Ireland, laying off 150 workers in the process.
France's Pixium Vision reeled in $20.3 million in new financing to help further development of the company's retinal implant system designed to help people with certain degenerative eye conditions see better.
France's AB Science watched its shares tank as much as 31% on Friday after a European Medicines Agency panel rejected its gastrointestinal cancer treatment, casting serious doubts on the drug's potential approval.
Respiratory device company ResMed secured preliminary injunctions in Germany against two rivals based in mainland China and Taiwan in what has become a global patent fight.
Boston Scientific's Vercise deep brain stimulation system isn't yet approved in the U.S., but it continues to rack up regulatory blessings overseas. In the latest advance, the product now has a CE mark to treat a neurological movement disorder known as dystonia.
A German appeals court lifted an injunction preventing the sale of Medtronic's transcatheter aortic heart valve in the country, a major defeat for archrival Edwards Lifesciences and the latest development in a nasty patent fight that long ago went international.