Johnson & Johnson and AstraZeneca Plc stopped studies of experimental painkillers over concerns that a class of drugs once expected to generate as much as $11 billion in annual sales may raise the risk of joint damage.
Johnson & Johnson is setting in motion a competition to replace Chief Executive Officer William Weldon by promoting the heads of its drug and device units to vice chairmen and assigning them to repair its consumer business following product recalls.
Amgen Inc. , the world’s largest biotechnology company, is considering a takeover offer for Actelion Ltd. to gain new medicines for rare diseases, and may approach the Swiss drugmaker as early as this week, said two people with knowledge of the matter.
Sanofi-Aventis SA ’s three-month effort to acquire Genzyme Corp. took a more contentious turn as the companies’ chief executive officers offered conflicting accounts of their face-to-face meeting last month.
U.S. lawmakers investigating whether Johnson & Johnson used a “phantom recall” to remove Motrin packages from the market without regulators’ knowledge asked the drugmaker if outside contractors were hired to buy other products in stores as well.