I was privileged to spend 10+ days traveling to Copenhagen (Denmark), Lund (Sweden), and Trondheim (Norway). During my travels, I met with a number of emerging biotech companies, helped teach a class on biotech entrepreneurism, and participated in various internal meetings and discussions with my Ventac Partners colleagues. Sitting in my office in New
What do companies such as Twitter, Facebook, and Google have in common with Pfizer, Amgen, BioMarin, Alkermes, and Jazz Pharmaceuticals? Dublin. All of them have set up international operations in Dublin, in part to reduce their tax bill and access the local, skilled biotech workforce. The Twitter/Google/Facebook article is here, while biotech in Ireland is summarized here. Most of
Yesterday’s Financial Times reported that pharmacists in Spain are struggling to continue operating their businesses due to a lack of payment from the Regional governments. “We depend 80 to 90 per cent on the health system, and it’s the first time they’ve stopped paying,” says Ms Espinosa, who is president of the regional pharmacists’ federation.
As FiercePharma correctly points out, GSK’s Q II report reflects the overall industry trends quite accurately: The rest of Glaxo’s report, like the rest of Big Pharma’s Q2 results so far, reflect current industry trends; sales in U.S. and Europe are on the wane, thanks in part to pricing pressures from cash-strapped governments. Cost-cutting helped
This week we learn that two novel pain medications will never see the light of day: Novartis had reached the market with the COX-II inhibitor Prexige (rebranded as the unusually positive name of Joicela), until regulators forced Novartis to pull the drug from the market in 2007. Taking a biomarker/ personalized medicine approach did not
It was recently announced that the EMA has rejected Xyrem for the treatment of fibromyalgia. Interestingly, Xyrem is already approved in Europe for the treatment of narcolepsy with cataplexy. We have written about the many unmet needs in fibromyalgia previously. Surprisingly, no drug is approved in Europe for fibromyalgia. This is rather unfortunate, as fibromyalgia,
Earlier this week, Prime Minister Putin announced that the Russian government will invest nearly $4 billion to modernize the pharmaceutical industry in Russia. Of note: Putin said he wanted 90 percent of Russia’s vital medicines and 50 percent of its medical equipment to be domestically produced by 2020. Other reports suggest that ~80% of Russia’s
PharmaPhorum has an excellent analysis on launch evolution across pharmerging markets, such as China, Brazil, Russia, and so forth. A few items of note: 1. The author projects that by 2012, Brazil and China will enter the top 10 largest markets, by sales (with India at #11 and Venezuela at #12). However, they include Germany
Today we read the news that GSK will spin out a team of fourteen scientists and patents into a standalone company. Convergence Pharmaceuticals will focus on the development of pain management products. GSK retains an 18% ownership stake in the new company. Generally speaking, I think this is a fabulous idea. I would like to
Today we hear the news that Covance has done it again. Today they acquired two European R&D sites from Sanofi for $25 million. In addition, Sanofi agreed to purchase R&D services from these facilities for up to $2.2 billion over 10 years. This follows a similar deal struck with Lilly in the US in 2008.