British drugmaker agrees payment to resolve 80,000 cases alleging cancers were linked to drug known generically as ranitidine
The British drugmaker GSK has struck an agreement to make a payment of up to $2.2bn (£1.7bn) to resolve litigation brought in the US over its heartburn treatment Zantac.
The company said it had struck agreements with 10 plaintiff law firms who represent about 93%, roughly 80,000, of the US state court product liability cases pending against it.
Continue reading...Driven by a revamped drug portfolio, AstraZeneca is expected to report revenues of $10.7bn in its latest quarterly results
Nearly a decade after AstraZeneca fended off a hostile takeover approach from US rival Pfizer, the British drug firm has overtaken the Viagra maker in terms of market value, marking a significant moment in its turnaround – and for UK plc.
In a week when AstraZeneca and Britain’s second-biggest pharma firm GSK release their latest quarterly results and the main industry body, the Association of the British Pharmaceutical Industry holds its annual conference, all eyes will be on what pharma executives say about the UK as a place to operate and invest in.
Continue reading...GlaxoSmithKline’s £1.5bn Sierra Oncology deal comes after pressure from Elliott to boost its pipeline
The UK drug company GlaxoSmithKline has agreed a £1.5bn deal to buy a US cancer treatment developer, Sierra Oncology, as it tries to fend off pressure from the activist shareholder Elliott Management.
The deal will give Britain’s second-largest pharmaceutical company access to California-based Sierra Oncology’s momelotinib, a drug being tested on anaemic patients with a type of bone marrow cancer called myelofibrosis. GSK said the drug had “significant growth potential” and it expected sales to start next year, with one analyst predicting it could generate peak annual sales of about $1.7bn (£1.3bn).
Continue reading...Early trials show jab effective in people of all ages who have already received doses of any vaccine
Efforts by the British and French drugmakers GSK and Sanofi Pasteur to produce a Covid-19 vaccine have suffered a further setback, with final clinical data on the jab and a potential launch delayed until next year as they struggle to find enough uninfected people to test it on.
The two vaccine specialists announced positive preliminary results from a trial that showed the vaccine raised antibody levels against Covid by nine to 43 times when given as a single booster shot in people who had already received doses of AstraZeneca, Johnson & Johnson, Moderna or Pfizer/BioNTech vaccines, for all age groups.
Continue reading...Exclusive: NatWest, Microsoft and GSK among firms to raise complaint over poor planning and breakdown in relations
Companies that stumped up millions of pounds to sponsor the Cop26 climate summit have condemned it as “mismanaged” and “very last minute” in a volley of complaints as next month’s event in Glasgow draws near.
The sponsors, which include some of Britain’s biggest companies, have raised formal complaints blaming “very inexperienced” civil servants for delayed decisions, poor communication and a breakdown in relations between the organisers and firms in the run-up to the landmark talks.
Continue reading...World Health Organization’s director general hails ‘historic day’ in fight against parasitic disease
The World Health Organization has recommended the widespread rollout of the first malaria vaccine, in a move experts hope could save tens of thousands of children’s lives each year across Africa.
Hailing “an historic day”, the WHO’s director general, Dr Tedros Adhanom Ghebreyesus, said that after a successful pilot programme in three African countries the RTS,S vaccine should be made available more widely.
Continue reading...Health commissioner says plan is to reduce hospitalisation and tackle long-term impact of Covid
Three Covid medicines with the potential to “change the course” of the pandemic will be authorised for mass production and use in the EU by October under a European Commission plan.
Stella Kyriakides, the commissioner for health, said such a move would reduce hospitalisation and tackle the long-term impact of Covid, with one in 10 people reporting symptoms 12 weeks after infection.
Continue reading...The Anglo-Swedish firm already had a strong lineup of cancer drugs when vaccine success gave it a further boost
Before the pandemic, AstraZeneca was highly regarded in the business and pharmaceutical world – seen as one of the UK’s best companies. Now, thanks to Britain’s successful vaccine programme, it is a household name.
The Anglo-Swedish firm, which publishes annual results on Thursday, has sprung to prominence as maker of one of the world’s first Covid-19 vaccines, approved for use in the UK, EU and India. Inevitably, headlines have followed. AstraZeneca has been the focal point of the vaccine supply wars between the UK and the EU and has, as part of that row, faced questions over the effectiveness of the jab in the over-65s.
Continue reading...Heartburn medicine pulled by GlaxoSmithKline while it investigates source of impurity
GlaxoSmithKline is recalling the popular heartburn medicine Zantac in all markets, days after the US Food and Drug Administration (FDA) found “unacceptable” levels of probable cancer-causing impurity in the drug.
Zantac, also sold generically as ranitidine, is the latest drug in which cancer-causing impurities have been found. Regulators have been recalling some blood pressure and heart failure medicines since last year.
Continue reading...