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Pharmaceutical

Smith & Nephew pays $22 million to settle bribery claims, cuts 800 jobs

MEMPHIS, Tenn. — Medical device manufacturer Smith & Nephew announced Monday that it will pay $22 million to settle claims that it won business in Greece by bribing doctors,
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GlaxoSmithKline to settle 20,000 more lawsuits over diabetes drug

BRENTFORD, UK — The UK’s biggest drugmaker GlaxoSmithKline Plc has agreed to settle 20,000 more lawsuits alleging its diabetes medication Avandia caused heart attacks, Bloomberg reported. The company has
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Pfizer recalls 1 million birth control pills

NEW YORK — Pfizer is recalling about 1 million birth control pills due to a packaging error that could increase the likelihood of pregnancy, according to a press release.
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Pharmaceutical industry donates 14 billion treatments to eliminate NTDs

GENEVA, Switzerland — On Monday, the research-based pharmaceutical industry announced donations of 14 billion treatments this decade to support the elimination or control of nine key neglected tropical diseases
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US Justice Department files consent decree in Ranbaxy case

WASHINGTON — The U.S. Justice Department filed a "ground-breaking" consent decree in court for a permanent injunction mandating Indian drug-maker Ranbaxy to adhere to U.S. manufacturing standards and ensure
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Synutra provides government testing results regarding infant formula safety

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Watson buys Strides'' Australia unit for $396 mln

BANGALORE and MUMBAI — U.S.-based Watson Pharmaceuticals Inc said it bought the Australian and South East Asian generic drugs business of Strides Arcolab for A$375 million, reports Reuters.
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Bristol-Myers Squibb donates $6.9 million to support cancer patients

PRINCETON, N.J. — Bristol-Myers Squibb Company today announced a donation of $6.9 million to support the HealthWell Foundation, an independent non-profit organization that provides financial assistance to eligible individuals
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Former research chemist pleads guilty to stealing trade secrets

TRENTON, N.J. — A former Sanofi-Aventis research chemist has pleaded guilty to stealing trade secrets, CourierPostOnline.com reported. Yuan Li, a 29-year-old Chinese national, admitted to accessing, downloading and making
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Bristol-Myers Squibb to acquire biopharm company

NEW YORK — Bristol-Myers Squibb has agreed to acquire biopharmaceutical company Inhibitex for $26.00 per share, according to a press release. The transaction, with an aggregate purchase price of
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