more stories

Split-off to focus on biopharma business

Business | Pharmaceuticals
2009-11-17

BRISTOL-MYERS Squibb Co is splitting off its holdings in infant formula maker Mead Johnson Nutrition Co in order to focus on its biopharmaceutical business. The New York-based drug maker, which owns about 83 percent...

---

Sonova pays cash for implant maker

Business | Pharmaceuticals
2009-11-10

SWISS hearing aid firm Sonova Holding AG said yesterday it is buying cochlear implant maker Advanced Bionics Corp, based in California, for US$489 million in cash. Sonova expects the transaction, which is subject...

---

Novartis buys share to expand business

Business | Pharmaceuticals
2009-11-5

NOVARTIS AG will expand its human vaccine business in China by acquiring an 85-percent stake in a local vaccine company for 850 million yuan (US$125 million) in cash. With the investment in Zhejiang Tianyuan Bio-Pharmaceutical...

---

Novartis to invest additional US$1b

Business | Pharmaceuticals
2009-11-3

NOVARTIS AG yesterday signed a deal with the Shanghai government to invest an additional US$1 billion over five years in the drug maker's third-biggest research and development center in the world. With the new...

---

Merck net falls 28% as weak demand hits revenue

Business | Pharmaceuticals
2009-10-27

GERMAN drug and chemical maker Merck KGaA said yesterday net income fell 28 percent to 144 million euros (US$216 million) in the third quarter as weak demand hurt revenue, but said its chemicals and liquid crystals...

---

EU nod for drug firms' tie-up

Business | Pharmaceuticals
2009-10-24

THE European Union yesterday approved the proposed tie-up of United States drug makers Merck & Co and Schering-Plough Corp which would create the second-biggest global producer of prescription medicines. The EU's...

---

Drug firm posts lower revenue and earnings

Business | Pharmaceuticals
2009-10-23

DRUG maker Schering-Plough Corp yesterday posted lower revenue and a smaller profit in the third quarter, due to slightly higher spending on taxes and research. But the company, which soon will become part of much-larger...

---

German drug firm invests to tap growing market

Business | Pharmaceuticals
2009-10-22

GERMANY-BASED Boehringer Ingelheim yesterday said it will invest 100 million euros (US$149 million) on China's mainland to tap the pharmaceutical market. The drug maker will expand its pharmaceutical production...

---

Sanofi-aventis opens Chengdu center

Business | Pharmaceuticals
2009-10-17

SANOFI-AVENTIS yesterday said it will set up a clinic research center in Chengdu, capital of Sichuan Province -- its third in China. The French drug maker will collaborate with Chengdu-based West China Hospital...

---

3M plants seek to tap growing market

Business | Pharmaceuticals
2009-10-14

3M China began operating its Asia Pacific Production Facility for Medical Devices and its Jinshan Special Material Production Facility yesterday to localize its supply chain and tap the growing Chinese market, the...

---

Drug makers warned of antitrust probes

Business | Pharmaceuticals
2009-9-30

THE European Union's top antitrust official warned drug makers yesterday to "look out" for new investigations in coming months. EU Competition Commissioner Neelie Kroes said regulators were capitalizing on a recent...

---

J&J signs flu deal with Crucell

Business | Pharmaceuticals
2009-9-29

UNITED States health care products maker Johnson & Johnson Inc has bought an 18-percent stake in Dutch biotechnology company Crucell NV for 301.8 million euros (US$440 million) in the hope of developing a universal...

---

Solvay sells drugs unit to US

Business | Pharmaceuticals
2009-9-29

SOLVAY, the Belgian chemicals and drugs maker, announced yesterday that it is to sell its entire pharmaceutical business to Abbott Laboratories for 4.5 billion euros (US$6.6 billion). The deal's value could jump...

---

Growing network with dose from IPO

Business | Pharmaceuticals
2009-9-11

SINOPHARM Group Co, China's largest drug distributor, said yesterday it expects to raise as much as HK$8.7 billion (US$1.1 billion) in an initial public offering in Hong Kong to expand its network and import medicines....

---

Japanese firm buys US drug maker

Business | Pharmaceuticals
2009-9-4

JAPANESE drug company Dainippon Sumitomo Pharma Co is acquiring United States drug maker Sepracor Inc for about US$2.6 billion in an effort to expand in the US market. The deal is through a tender offer at a price...