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Pharmaceutical

Pfizer, BYU settle Celebrex lawsuit for $450M

One month from trial date, Brigham Young University and Pfizer Inc. settled a lawsuit Tuesday for $450 million over whether the Utah school had been cheated out of billions of
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Novartis to Buy Fougera Pharmaceuticals for $1.5 Billion

Novartis International has agreed to buy Fougera Pharmaceuticals, a maker of generic skin care medicine, for $1.525 billion in cash, reported by The New York Times. Under the terms of
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Pfizer Q1 profit falls 19 percent

The Associated Press reports, Pfizer Inc. said Tuesday that its first-quarter profit fell 19 percent, mainly because new generic competition to its blockbuster cholesterol pill Lipitor cut U.S. sales by
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Warner Chilcott to explore sale of company

Specialty pharmaceutical company Warner Chilcott Plc said it would explore strategic options, including preliminary talks with potential buyers, Reuters reports. The company said it hired Goldman Sachs as its financial
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Bayer sues generic drug maker over erectile dysfunction drug

WILMINGTON, Del. — Bayer Pharma AG is suing generic drug maker Watson Pharmaceuticals Inc. for allegedly infringing two U.S. patents for the erectile dysfunction drug Staxyn, Bloomberg reported. Bayer
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Pfizer to sell infant nutrition unit

NEW YORK — Pfizer Inc. has decided to sell its infant nutrition business as soon as next week, The New York Times reported. According to the story, Nestle appears
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Idaho settles GlaxoSmithKline case for $2.6 million

BOISE, Idaho — Drugmaker GlaxoSmithKline has agreed to pay the state of Idaho $2.6 million to settle allegations that the company sold products at false or inflated prices, CNBC
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J&J fined $1.1 billion in antipsychotic drug case

LITTLE ROCK, Ark. — An Arkansas judge ordered Johnson & Johnson to pay more than $1.1 billion in fines after a jury found the company’s officials misled doctors and
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Pfizer cuts employee severance package to reduce costs

NEW YORK — Pfizer Inc. is cutting its employee severance package after May 14 in an effort to reduce costs, Bloomberg reported. The pharmaceutical giant, which has fired 26,000
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U.S. pharmaceutical outsourcing shows post-recession gains

The upturn in the fortunes of pharmaceutical companies after the recession is mirrored by the U.S. contract manufacturing outsourcing (CMO) market, which is expected to grow at a compound
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