India has started the countdown on new price controls for a vastly expanded list of drugs, a move that is expected to cut deeply into the profits of drugmakers for hundreds of drugs.
Massachusetts-based devicemaker Thermedical secured $5.5 million to hire additional staff and advance research in ablation for solid tumors and ventricular tachycardia, a dangerous arrhythmia of the heart, bringing the company's total first round of financing to $7 million.
Hip implants have drawn a lot of negative attention in recent years, largely because of all the safety problems that have erupted--and continue to erupt--for all-metal models. But the truth is that the sector as a whole remains a reliable bread-and-butter source of revenue for the major manufacturers. Read more >>
How much is a generic drug worth to a payer? More than £350 million, for the U.K.'s National Health Service anyway. That's how much it saved during the first 12 months after Pfizer's Lipitor went off patent, the generic industry's trade association says.
Daktari Diagnostics reeled in another $7 million in equity financing, an amount likely to help fuel the company's overall expansion as well as the construction of a new plant in Scotland for its point-of-care-HIV tests.
Medical device manufacturer Analogic is eyeing about 140 job cuts as it pares down its operations to save $6 million per year.
WuXi PharmaTech, China's largest CRO, has big expectations for 2013, and the company is well on its way to following through, posting an 11.7% revenue jump in the first quarter.
Merck KGaA is a year ahead of schedule. The German drugmaker, which has been slashing payrolls and shutting facilties to save money, said it would meet its 2014 sales and earnings targets this year instead.
Edwards Lifesciences has watched its share price tank about 19% since late last month, and now the company is plotting a $750 million stock buyback to reaffirm investor confidence, with CEO Michael Mussallem pitching in $5 million of his own.
The company didn't make any friends in Israel when local media reported tiny tax rates paid by the company. Coming as they did amid news of cost-cutting and layoffs, the tax figures stung--and sparked a public outcry, Haaretz notes. And now, Israeli Finance Minister Yair Lapid is in talks with Teva chief Jeremy Levin to work out a settlement.