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31 октября, 20:17

U.S. States Go After Indian Billionaire And Mylan's President For Price-Fixing Drugs

Attorneys general of 45 states are seeking to add Satish Mehta, the billionaire CEO of Emcure Pharmaceuticals, and Rajiv Malik, the president of Mylan, to a nearly year-old lawsuit that alleges drug companies restricted competition and raised the prices of 15 generic drugs.

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31 октября, 18:10

Mylan president is target of investigation into alleged price collusion: Bloomberg

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31 октября, 18:10

Mylan shares drop 6% on report of investigation into company president

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31 октября, 18:02

Mylan Shares Tumble On Generic Drugs Collusion Probe

Mylan's second-highest-ranking executive, Rajiv Mailk, is the target of a civil investigation by dozens of states conducting in a widespread, multiyear probe into alleged price collusion by makers of generic drugs.   As Bloomberg reports, state attorneys general said they’re seeking to sue Rajiv Malik, Mylan’s president and executive director, as part of an expanded complaint against pharmaceutical companies from 45 states and the District of Columbia, according to a statement by Connecticut Attorney General George Jepsen. Malik would be the first senior executive from a major drugmaker sued in the case.   “These conspiracies were part of a much broader, overarching industry code of conduct that enabled the defendant manufacturers to divvy up the market for specific generic drugs in accordance with an established, agreed-upon understanding for assigning each competitor their share of the market,” Jepsen said in the statement.   Connecticut and other states are asking a federal judge to allow them to add to their existing complaint against six drugmakers. Mylan share price immediately feel over 7% on the news... Led by Jepsen, the civil investigation is naming executives for the first time, as well as expanding the number of drugmakers in the probe to 18 from 6, and the number of drugs to 15 from two, according to Jepsen. Previously, it had focused on an antibiotic and an oral diabetes medication, which it said executives had fixed prices on while meeting at trade shows, customer events and dinners. The drugmakers the states are seeking to add to the lawsuit include Apotex Inc., Dr. Reddy’s Laboratories Ltd., Lannett Co., Glenmark Pharmaceuticals Ltd., Endo International Plc’s Par Pharmaceutical unit, Novartis AG’s Sandoz unit, Sun Pharmaceutical Industries Ltd. and others. Mylan and Teva Pharmaceutical Industries Ltd. were among the drugmakers named in the earlier version of the suit. “‘We allege in this complaint that the defendant companies’ collusion was so pervasive that it essentially eliminated competition from the market for these 15 drugs in its entirety,” Jepsen said. The result, he said, was higher costs for patients and states.

31 октября, 17:13

Can Parker-Hannifin (PH) Maintain its Earnings Streak in Q1?

Parker-Hannifin's (PH) solid aftermarket sales, the revamped "WIN Strategy" and restructuring actions anticipated to benefit its fiscal first-quarter results.

31 октября, 16:51

Is a Beat in the Cards for Mylan (MYL) This Earnings Season?

Mylan N.V. (MYL) is likely to beat results when it reports third-quarter results next week driven by newly launched generics.

30 октября, 18:31

Is a Turnaround in Store for Teva (TEVA) in Q3 Earnings?

Teva's (TEVA) generic segment may continue to see weakness due to significant competitive and pricing pressure in the U.S. generics industry, which will continue to hurt the top line.

30 октября, 17:27

Will Weak End Markets Hurt Flowserve's (FLS) Q3 Earnings?

We expect third-quarter results of Flowserve (FLS) to be hurt by lower original equipment sales in key end markets.

30 октября, 17:07

GoPro (GPRO) to Report Q3 Earnings: Another Beat in Store?

GoPro's (GPRO) third-quarter 2017 results anticipated to benefit from strong market traction of HERO5 cameras and successful restructuring measures.

27 октября, 15:50

Pharma Stock Roundup: Lilly Tops on All Fronts, Mixed Results from Bristol-Myers

It was all about earnings this week with companies like Eli Lilly (LLY), Bristol-Myers Squibb and Novartis reporting third quarter results.

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26 октября, 19:31

Glaxo (GSK) Q3 Earnings Beat, Revenues In Line, Shares Down

Glaxo's (GSK) Q3 earnings top estimates while revenues match the same. However, the bottom was flat at constant exchange rates (CER).

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26 октября, 14:25

Mylan shares rise 1.7% premarket after UK Copaxone patent win

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18 октября, 00:44

Allergan (AGN) Loses Restasis Patent Lawsuit, Shares Fall

Allergan (AGN) lost a patent infringement lawsuit filed against companies trying to develop a generic version of its eye drug, Restasis, which is also its second bestselling drug.

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13 октября, 15:42

Voyager Therapeutics (VYGR) Jumps: Stock Rises 7.8%

Voyager Therapeutics (VYGR) was a big mover last session, as the company saw its shares nearly 8% on the day amid huge volumes.

13 октября, 15:06

Pharma Stock Roundup: Pfizer Mulls Options for Consumer Healthcare, LLY's Pipeline Setback

Pfizer (PFE) is looking at strategic options for its Consumer Healthcare business while Merck announced that it won't be seeking approval for its CETP inhibitor.

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11 октября, 16:30

Mylan Gets Complete Response Letter For Biosimilar Neulasta

Mylan (MYL) suffered a setback following the FDA's CRL for the company's BLA for MYL-1401H, a proposed biosimilar of Neulasta.

11 октября, 15:07

Biotech Stock Roundup: Amgen's Imlygic Data Promising, Regeneron Scores Win in PCSK9 Lawsuit

With third quarter earnings round the corner, it was a relatively slow week with key updates including Regeneron (REGN) and partner Sanofi's win in the PCSK9 litigation.