Pharmaceutical industry
FDA advisory panelists converged on the risks and benefits of COX-2 inhibitors, a class of pain medications that includes Celebrex, Bextra, and Vioxx. The panelists raised concerns about the increased risk of heart attacks and strokes associated with these drugs, but ultimately voted to keep them on the market, albeit
Pharmaceutical industry
Federal drug regulators are struggling to protect American consumers from unsafe drugs, with a federal drug safety reviewer testifying that the agency is "virtually incapable of protecting America" from the risks associated with certain medications. Dr. David Graham, a 20-year veteran of the Food and Drug Administration, identified
Pharmaceutical industry
As a result of its voluntary withdrawal of Vioxx, a $2.5 billion-a-year arthritis and pain drug, pharmaceutical giant Merck & Co has found itself at the center of a major controversy. The company's decision to pull Vioxx from the market has led to a US federal Justice
Thorpe, Ian
The doping scandal in swimming has been rekindled after Ian Thorpe, a prominent Australian swimmer, was reprimanded by the sport's governing body, FINA, for his public criticism of the procedures to catch drug cheats. Thorpe, a long-time critic of the current system, has kept quiet about the issue
Pharmaceutical industry
Pharmaceutical giant Pfizer Inc. faced criticism and pressure at its annual shareholders meeting in Missouri, as Minnesota Governor Tim Pawlenty called for limiting drug price hikes to inflation level. The governor, who owns $463 million in Pfizer stock, invited shareholders to work with the company to lower prices and allow
Pharmaceutical industry
The potential takeover battle for pharmaceuticals group Aventis SA has taken a significant turn with Novartis AG agreeing to open talks with Aventis about a potential business combination. This move aims to save Aventis from a hostile cash-and-shares takeover bid by Paris-based rival Sanofi SynthElabo SA. Shares in Aventis rose
Biotechnology industries
Sanofi-SynthElabo SA's hostile bid for Aventis SA gained momentum on Tuesday as the French pharmaceutical group agreed to sell two anti-clotting medications to GlaxoSmithKline plc in anticipation of competition regulators' concerns. The sale of Aritxtra and Fraxiparine to London-based Glaxo, the world's second-largest pharmaceutical company,
Biotechnology industries
Biosurgery, a nascent discipline seeking to revolutionize wound healing and bone repair through the development of engineered tissues and organs, is slowly gaining momentum. Despite the enormous potential of this field, its commercial value is estimated to be 10 to 15 years away. Many companies have already failed or been
Biotechnology industries
The French prime minister's public intervention in the proposed takeover of Aventis SA by Swiss pharmaceutical group Novartis AG has sparked fury among French investors, who feel that the government's comments have prejudiced the outcome of the bid. Colette Neuville, the head of shareholder action group
Biotechnology industries
The European Commission issued a statement on March 26, saying that if France intervenes to block a takeover by Swiss drug company Novartis of French pharmaceutical rival Aventis, regulators would investigate on competition and internal market grounds. Aventis executive chairman Igor Landau attempted to allay French government fears about a
Biotechnology industries
A potential tie-up between Novartis AG and Aventis SA could create a pharmaceutical giant, rivaling Pfizer and GlaxoSmithKline in global sales. Novartis, Switzerland's largest pharmaceutical company, has expressed interest in Aventis, citing complementarity in cancer, diabetes, and cardiovascular treatments. This move comes as Aventis faces a hostile bid
Biotechnology industries
Momenta Pharmaceuticals, a Cambridge, Massachusetts-based biotechnology company, plans to raise $86.15 million in an initial public offering (IPO), while CoTherix, a Belmont, California-based biopharmaceutical company, seeks to raise an estimated $70 million. However, the biotech IPO market is facing skepticism due to concerns over the strength of recent IPOs,
