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Pharmaceutical

Former research chemist pleads guilty to stealing trade secrets

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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

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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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J&J knowingly sold defective insulin pumps, FDA says

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WASHINGTON — The Food and Drug Administration has accused Johnson & Johnson’s Animas unit of continuing to sell insulin pumps last year after learning of defects with the devices,
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Novartis recalls over-the-counter drugs

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BASEL, Switzerland — Novartis announced Sunday that it is recalling a number of over-the-counter drugs, including certain bottles of Excedrin and Bufferin, due to complaints about chipped and broken
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Pfizer ordered to pay $45 million in menopause drug case

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NEW YORK — An appeals court has ordered Pfizer Inc. to pay more than $45 million in damages to two women who claimed they developed breast cancer after taking
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New Teva CEO plans to shift focus to branded drugs

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ERUSALEM — Teva Pharmaceutical Industries new CEO Jeremy Levin said he plans to shift the company’s focus from generics to branded drugs, The Economic Times reported. Levin, a former
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Merck to pay $24 million to settle Medicaid fraud lawsuit

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BOSTON — Merck & Co. has agreed to pay $24 million to settle allegations that it overcharged the Massachusetts state Medicaid program, The Boston Globe reported. The settlement represents
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Pfizer’s failed blood-cancer drug helped leukemia patients, study finds

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SAN DIEGO — According to a study released Wednesday at the American Society of Hematology meeting in San Diego, Pfizer Inc.’s blood-cancer drug Mylotarg, which was pulled from shelves
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FDA: Bayer must update Yaz warning labels

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EAST ST. LOUIS, Mo. — An independent FDA panel has voted 21-5 to require Bayer AG to update warning labels on its popular birth control Yaz to reflect new
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Pfizer elects Ian Read as chairman of the board

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NEW YORK — Pfizer Inc. announced Monday that its Board of Directors has elected current President and CEO Ian Read as chairman of the board, according to a press
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