Monthly Archives: September 2009

Abbott to Purchase Solvay for $6.6 Billion (Update 1)

By George Koroneos | Published: September 28, 2009
Abbott announced, early Monday morning, that it had signed a deal to purchase Belgium-based drug manufacturer Solvay Pharmaceuticals for $6.6 billion in cash—a mere five months after Solvay’s CEO Werner Cautreels announced that the company was searching for a proper suitor. The deal adds more than $3 billion in annualized sales to its global pharmaceutical business—three-quarters [...]
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Q&A with Steven Paul: Lilly’s New Development Plan

By George Koroneos | Published: September 23, 2009
Last week, Lilly announced a major restructuring plan focused around the creation of one Developmental Center of Excellence and several individual business units. The media (Pharm Exec included) focused on the news that 5,500 jobs were being cut as part of the plan. This week, we’re talking to Lilly to find out what the company’s [...]
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NICE Stats Spur Controversy and Back Patting

By Sarah Houlton | Published: September 23, 2009
The UK’s National Health Service has released its first statistics that show how NICE approval has affected medicines uptake in the UK. The NHS Information Centre’s Metrics Working Group looked at 26 medicines that the NICE has said should be reimbursed and how they were prescribed in 2008. It then compared the actual usage with [...]
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Merck Mixes and Matches Execs

By George Koroneos | Published: September 2, 2009
Image via Wikipedia Merck, on Monday, announced that it will keep 40 percent of Schering-Plough’s executive staff following the merger of the two companies. However, most of Merck’s top brass would remain in place. Schering execs Raul Kohan and Stanley Barshay will run the Animal Health and Consumer Health businesses, respectively, while the Global Human Health, Research, [...]
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Pfizer Settles Whistleblower Case for $2.3 Billion

By George Koroneos | Published: September 2, 2009
Image by Getty Images via Daylife Pfizer, on Wednesday, agreed to pay $2.3 billion to end a US Department of Justice investigation citing the company for illegal off-label marketing tactics related to a number of products. It represents the largest single settlement of its type for a pharmaceutical company, topping Lilly’s $1.4 billion Zyprexa settlement reached [...]
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