Panic in pharma as bosses of four firms face being struck off: Shock CMA decision includes Alliance’s CEO September 2, 2022 Pharmaceutical firms have appealed against a competition case underlying the disqualifications of multiple industry bosses, which could potentially lead to the seven individuals being struck off. The Competition and Markets Authority (CMA) said on Friday that it had issued proceedings in the High Court to disqualify directors at four groups, including the chief executive of [...]
Raft of UK pharmaceutical directors risk being disqualified after CMA ruling September 2, 2022 The UK’s competition watchdog has today issued High Court proceedings to disqualify a raft of pharmaceutical directors, including Alliance Pharma’s CEO, over suspected anti-competitive agreements. The Competition and Markets Authority (CMA) launched the investigation into the UK’s pharmaceutical sector in 2017, and revealed earlier this year that several firms had been impeding competition in the [...]
Government must support UK science firms in shouldering cost pressures, says ABPI president August 25, 2022 The Government must help paint a positive picture for the pharmaceutical industry via increased support, so that CEOs feel encouraged to shoulder the cost pressures hitting the sector, the president of the Association of British Pharmaceutical Industry (ABPI) told City A.M. The industry is currently navigating staff shortages, inflation as well as dwindling investment, which [...]
Litigation over recalled drug weighs on GSK, Haleon and Sanofi stocks August 11, 2022 UK pharmaceutical stocks GSK, Haleon and Sanofi have been dragged into the red today – losing billions in market value – ahead of a litigation around recalled heartburn drug Zantac. GSK’s shares have fallen more nearly nine per cent, its newly listed spinoff firm Haleon sunk as much as seven per cent and Paris-based Sanofi [...]
UK competitions watchdog told to cover pharma firms’ costs after investigation failed May 25, 2022 The Supreme Court today said the UK’s Competition and Markets Authority (CMA) could be forced to cover Pfizer and Flynn Pharma’s legal costs, following the collapse of its case into the two pharmaceutical firms. The landmark ruling could see UK regulators made liable to pay the costs of those subject to failed investigations, after the [...]
Invidior unveils $100m share repurchase scheme with new drugs powering rebounding revenues April 28, 2022 Invidior has announced a $100 plan to return capital to shareholders, with the pharmaceutical firm on track to achieve its full-year guidance.
Martin Shkreli’s lawyers ask to drop him as client as ‘pharma bro’ owes $2m in legal fees April 13, 2022 Martin Shkreli’s lawyers are seeking to drop him as a client, over claims the price-hiking pharma exec owes them $2.04m (£1.57m). Philadelphia headquartered law firm Duane Morris LLP asked for a judge’s permission to pull out of representing Shkreli after claiming the imprisoned former hedge fund manager “has no assets” to pay its fees. The [...]
Oxford Nanopore Technology has spike in revenue but losses up more than £100m March 22, 2022 A UK-based technology research firm has had spike in revenue by £30m, but an almost £100m loss from 2020. Oxford Nanopore Technologies, which develops state-of-the-art technology to analyse individual molecules, increased its intake to £134m in 2021, up from £114m. The company’s gross profit was up from 41 per cent to almost 55 per cent, [...]
J&J and three other drug distributors settle opioid crisis lawsuits for $26bn February 25, 2022 US pharma giant Johnson & Johnson, and three of America’s largest medical distributors, have agreed to pay $26bn (£19bn) to settle more than 3,000 lawsuits over the role they played in fuelling America’s opioid crisis. New Jersey drugmaker J&J, and medicine distributors Cardinal Health, AmerisourceBergen, and Distributors McKesson, finalized a deal through which they will [...]
AIDS scientists cure human for the first time: Former HIV patient is off medication, asymptomatic and healthy February 16, 2022 Researchers in the U.S. have said they have cured HIV in a human being for the very first time. The scientists said the mixed-race New York woman, who was previously HIV positive, was now “off medication, asymptomatic and healthy”, according to various media reports. The scientists reportedly used a cutting-edge stem cell transplant method that [...]