Phillip Frost is among the top insider buyers in the U.S. as the pharmaceutical billionaire props up the shares of two of his companies following an acquisition agreement that has been contested by some investors.
By the time Pfizer Inc., Johnson and Johnson, Elan Corp. and Eli Lilly & Co. announced their experimental medicines had shown limited benefit for Alzheimer’s patients in late-stage testing, the industry and academia had spent more than $30 billion researching amyloid plaque in the brain. Now they are working together to prevent such failures.
AstraZeneca Plc, whose setbacks in drug development have made the stock the cheapest among the largest pharmaceutical companies, is turning to RNA technology to boost its chances of discovering new therapies.
A U.K. pension group recommended that members vote against drugmaker AstraZeneca Plc’s remuneration policy to protest a “golden hello” payment and planned incentives for Chief Executive Officer Pascal Soriot.
AstraZeneca Plc’s long-term senior unsecured debt rating was cut by Moody’s Investors Service to A2 from A1 on concern that earnings and sales will be hurt as it loses patent protection on some of its best-selling medicines.
Obesity drugs are getting a lift after years of languishing even as populations around the globe get heavier. Rather than pharmaceutical giants, it is small companies with an appetite for risk leading the charge.
Vertex Pharmaceuticals Inc., maker of the hepatitis C drug Incivek and cystic fibrosis medicine Kalydeco, is refocusing development efforts on specialty diseases, seeking partnerships or alternative sources of funding for some programs.