ImClone gets $6.1 billion offer from unknown bidder
NEW YORK A mystery company has offered to buy ImClone for $6.1 billion, ImClone said.
ImClone wouldn’t name the company, but its $70-per-share offer was more than the $60-per-share one that Bristol-Myers Squibb offered.
Bristol-Myers Squibb owns 17 percent of ImClone. The two companies profit from the drug Erbitux, a cancer treatment that had 2007 sales of $1.3 billion.
Generics to drive worldwide pharmaceutical growth
SAN JOSE, Calif. Growth in various sectors of the pharmaceutical industry is expected to come from Brazil, Russia, India and China the so-called B.R.I.C. countries according to a new report by Global Industry Analysts.
In the Asia-Pacific region in particular, government restrictions on healthcare spending and low discretionary spending power among the population is increasing sales of low-cost generic drugs, while China has emerged as a region with potentially vast opportunities for global marketplace majors.
Across various countries, the generic drugs market is seeing rapid growth thanks to the need for drugs that can save lives while remaining cost-effective. This is attracting multinational companies into production and marketing of generic versions of branded drugs. Many consumers in developing countries are gaining access to drugs previously out of bounds for them, though many of the drugs violate patents, according to the report, titled “Pharmaceuticals: A Growing Outlook.”
FDA panel votes in favor of Pfizer’s Fablyn
NEW YORK The benefits of Pfizer’s osteoporosis drug Fablyn outweigh its risks, a Food and Drug Administration panel said, recommending the drug for postmenopausal women in a 9-3 vote Monday.
The advisers on the panel said they could not determine whether deaths among patients using the drug were a statistically significant increase over deaths among those receiving a placebo.
But, they said, the decision was neither a clear rejection of the drug nor a clear endorsement.
Pfizer had maintained that numbers showing an increase in deaths among patients using the drug, known generically as lasofoxifene tartrate, were not statistically significant.