Medications/Drugs News Headlines - Yahoo! News
Drugmaker Teva says Israel probing kickback allegations
Pharmaceutical giant Teva said on Wednesday it is under investigation by Israeli police for suspected bribery of foreign officials just two months after it paid $519 million to settle US charges. "An investigation is being conducted in Israel regarding the same issues which led to a settlement with American justice authorities," a company statement said. In December, Teva agreed to pay US authorities $519 million to settle charges that it paid bribes to foreign officials to win business in Russia, Ukraine and Mexico.
Lundbeck gives up on Alzheimer's drug, rival to Axovant pill
Two remaining late-stage clinical trials testing an experimental Alzheimer's drug from Denmark's Lundbeck have failed, scuppering hopes for the medicine and underscoring the difficulty of developing such treatments. Lundbeck's idalopirdine is a so-called 5-HT6 antagonist and is similar to another pill, called intepirdine, being developed by U.S. biotech firm Axovant Sciences. Unlike some higher profile Alzheimer's drugs from companies such as Eli Lilly and Merck & Co, idalopirdine was aimed at treating symptoms of the brain disorder, rather than halting progression of the underlying disease.
Allergan beats profit estimates, forecasts upbeat 2017
The company's revenue rose 7 percent to $3.86 billion in the fourth-quarter ended Dec. 31, beating the average estimate of $3.77 billion, according to Thomson Reuters I/B/E/S. Chief Executive Brent Saunders, one of the industry's most active dealmakers, took the blame for the company's third-quarter profit miss, citing unanticipated declines in sales of Allergan's older medicines. Allergan, which in September pledged to limit drug price increases to 10 percent, said it had raised the price of certain U.S. branded products by 6.7 percent, on average, effective January.
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