GlaxoSmithKline Plc fell the most in more than two months after U.S. regulators proposed a simpler route for rivals seeking to copy the company’s Advair respiratory drug, threatening almost $8 billion in revenue.
Sanofi raised the U.S. price of its Lantus insulin for a second time this year and Novo Nordisk A/S may follow suit before an onslaught of generics increases competition in the $35 billion diabetes market.
Celltrion Inc. and Hospira Inc. won European backing to sell the first copies of Johnson & Johnson’s Remicade, a $6 billion arthritis therapy, as regulators open the door to cheaper versions of the world’s best-selling medicines.
Novartis AG, Europe’s second-biggest pharmaceutical company, plans to eliminate 2,000 jobs in Switzerland and the U.S. and add employees in China and India to offset the effect of drug-price reductions.
AstraZeneca Plc agreed to buy Pearl Therapeutics Inc., a closely held U.S. drugmaker, for as much as $1.15 billion to expand its portfolio of respiratory-disease treatments as competition for lung medicines increases.
Bayer AG fell in trading after U.S. regulators recommended that the blood thinner Xarelto it markets with Johnson & Johnson not be approved to prevent stroke in people with the most common abnormal heart rhythm.
Bayer AG rose the most in 10 months in Frankfurt trading after its blood thinner Xarelto won an advisory panel’s support as a treatment to prevent stroke in patients with the most common abnormal heart rhythm.
GlaxoSmithKline Plc agreed to pay $3 billion to resolve U.S. criminal and civil investigations into whether the U.K. company marketed drugs for unapproved uses and other matters, its biggest legal settlement.