AstraZeneca Plc, the target of Pfizer’s Inc.’s takeover bid of more than $100 billion, forecast long-term sales growth as the company seeks to convince investors that it can succeed as a standalone drugmaker.
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.
GlaxoSmithKline Plc’s best-selling Advair drug for smokers’ cough and asthma is losing U.S. market share to products from AstraZeneca Plc and Merck & Co. after the country’s largest pharmacy-benefits manager dropped Advair from its 2014 list of reimbursed medicines.
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.
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.