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.
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 Chief Financial Officer Simon Dingemans said the pharmaceutical industry should expect to see “many more” shifts over which drugs U.S. insurers cover than in the past, driven by pharmacy-benefits managers.
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.
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, 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.