Sanofi said profit may drop as much as 5 percent this year as generic competition to the Plavix blood thinner crimps sales and it spends to introduce new medicines. The stock fell the most in nine months.
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.
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.
GlaxoSmithKline Plc, the U.K.’s largest drugmaker, increased a share buyback plan by 15 percent and raised the quarterly dividend as the company prepares to seek approval to sell new products next year.
Sanofi won U.S. backing to sell the multiple sclerosis pill Aubagio, enabling the drugmaker to enter a $12 billion industry, even as analysts said the medicine may be overshadowed by more effective products.