Europe’s financial crisis is leading Johnson & Johnson , Sanofi-Aventis SA and Merck & Co. to lower forecasts and reduce spending, adding pressure on drugmakers already squeezed by generic competition.
Isis Pharmaceuticals Inc., a maker of gene therapy treatments, may seek to expand use of an experimental drug targeting triglycerides to fight heart disease, a move an analyst says could add $2 billion in sales.
Amylin Pharmaceuticals Inc., maker of the diabetes drug Bydureon, may draw bids from other suitors after rejecting a $3.5 billion unsolicited takeover offer from Bristol-Myers Squibb Co. earlier this year.
Orexigen Therapeutics Inc. ’s success in winning the first U.S. panel recommendation for a long-sought prescription diet pill led its shares to almost double and shows the company benefited from its rivals’ earlier difficulties.
MannKind Corp.’s inhaled diabetes treatment won the backing of a U.S. advisory panel, moving the company another step closer in its long-running effort get its first product on the market. The shares rose 74 percent.
Sanofi-Aventis SA may have to pay at least $80 a share, or $21.3 billion, to acquire genetic-disease drugmaker Genzyme Corp. as activist directors drive up the price, investors in the U.S. biotechnology company say.