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Greece decrease prices

In Greece it has come to them having to cut prices of their medicines by up to a fifth to help out other places throughout the EU. The pharmaceuticals were re-priced this week which works out at 27% cut for what is the most expensive.

“It will be a big issue for the country. Although it is a relief for the social security system, low prices will fuel parallel trade, so products will go out of the country,” Yannis Chryssospathis, the association’s legal counsel, said in a telephone interview.

The Hellenic Association of Pharmaceutical Companies have explained that they are taking into consideration that they may take legal action.

Hospira & Javelin Combine.

Pharmaceutical company Hospira Inc. have decided to increase their pain management portfolio by combining with Javelin Pharmaceuticals for $145m.

Javelin will get paid $2.20 a share which averages it out at $145m.

The two companies agreed that Javelin can be lent up to amount of $4.5m to help with managing activities before finalising a merger with Hospira.

Tablets are old, magnetic device is new!

The days of taking tablets to cure a headache could be long gone if a new gadget which is a magnetic stimulating device that you can hold in the palm of your hand is finally produced.

It has been designed to help the pain of migraine by sending magnetic pulses around the head and has been given the description of a ‘portable single pulse transcranial magnetic stimulation device’.

The research is only early on and could change, but the idea sounds good.

Minster surges on agreed bid

The New Year started extremely well for Mister Pharmaceuticals when agreeing to a take over by Proximagen for £4.3 Million. 

Shares rose 1.68p to 5.8p in the developer of drugs for neurological and psychiatric disorders after proximagen said that it would pay 6p a share for the group.

Proximagen were down 1p to 109p and raised £50 million last year to follow its strategy of buying smart drug programmes.

John Russell, Minster’s chairman and chief executive, said” I thought the offer provided a more certain investment outcome for shareholders given that the group’s prospects, without the funding it needs to progress its business plan, were very uncertain”.

Dr Kenneth Mulvany, the chief executive of Proximagen, said “I was particularly interested in Minster’s tonabersat compound, bought from GlaxoSmithKline, which he thinks has the potential for the treatment of epilepsy”.

China Pediatric Pharmaceuticals, Inc. Announces Change in Stock Symbol

China Pediatric Pharmaceuticals, Inc. today announced that effective from December 14, 2009, the Company altered its stock symbol from LHSI to CPDU and finished a 2-for-7 turn around split of its Common Stock.

Effective from October 14, 2009, the business filed a modification to our Articles of Incorporation with the Secretary of State of Nevada to offer for a seven old common shares for two new common shares reverse share split. No fractional shares will be issued in association with the adaptation; instead, China Pediatric Pharmaceuticals will round up the fractional share to the nearest whole number.

“We are very pleased to announce our new stock symbol. We are also delighted to announce the completion of the reverse stock split which represents an important step forward in our near-term goal to position China Pediatric Pharmaceuticals to list our common stock on a senior stock market in the US,” said Mr. Xia, CEO and Chairman of China Pediatric Pharmaceuticals, Inc

Pharma bracing for tougher FDA guidance on trials

Pharmaceutical companies in New Jersey and elsewhere face more stringent requirements from the Food and Drug Administration on disclosures of mishaps in clinical trials.And while industry groups and advisers have broadly welcomed the increased transparency and the move toward safer drugs, they want these actions to strike a balance with the costs of complying with them.

As of Sept. 27, the FDA requires drug manufacturers to include the general public in disclosures on “adverse” and “serious adverse” events beyond the regulator and patients participating in trials, said Satish Tadikonda, president of Virtify Inc., in Cambridge, Mass., which provides compliance services to life sciences companies.

Adverse events are side effects like rashes or headaches, while serious adverse events are those that result in death, disability or life-threatening situations, among others, Tadikonda said.

“The playing field is leveled across the world,” Tadikonda said. “Previously, if you wanted to get competitive intelligence on a drug, you had to read numerous trade journals, and patients had to guess whether they could participate in a trial.” Now, the disclosures have to be posted at www.clinicaltrials.gov, a registry developed by the National Institutes of Health and the FDA.

Tadikonda said the regulator’s actions follow high-profile lawsuits, such as those involvingMerck’s painkiller drug Vioxx and GlaxoSmithKline’s diabetes drug Avandia. He said his firm has worked with several New Jersey-based pharmaceutical companies, the FDA and the NIH to clarify and interpret the new rules.

The industry’s pre-eminent advocacy group, the Washington, D.C.-based Pharmaceutical Research and Manufacturers of America, supports FDA’s move, and in October issued its own set of principles to achieve the goals set forth by the agency, according to Jeffrey K. Francer, its assistant general counsel.

But the new disclosure requirements would “necessarily increase the amount of expense in the drug-development process,” Francer said. “It is already enormously expensive, and it is important to make sure that the benefit of additional requirements outweighs the costs.”

Francer said striking a balance between regulatory requirements and compliance costs will be especially important as NIH defines the rules to post the results of clinical trials on the Web.

“The NIH should do so in a way that protects the confidential commercial information and trade secrets [of drug companies] and does not jeopardize companies that register [clinical trials] in the U.S.,” Francer said.

NIH could use specific steps to lower costs, for instance, an automated reporting process that would accept PDF submissions, Francer said. PhRMA has also advocated the International Conference on Harmonization’s format for summarizing clinical trails information, which is accepted by European and Japanese regulators.

Source: NJBiz

Obesity treatment signed for 1 Billion to Takeda

Takeda Pharmaceutical Co and Amylin have signed a pact potentially worth over $1 billion to the US firm to develop and commercialise products for the treatment of obesity “and related indications”.

The deal covers pramlintide/metreleptin and davalintide, which are compounds currently in Phase II. Cashwise, Amylin will receive a one-time up-front payment of $75 million and is eligible to receive certain development, commercialisation and sales-based milestones that could exceed $1 billion. It also provides for future tiered, double-digit royalty payments.

Amylin will be responsible for development through Phase II at home and Takeda will do the same outside the USA. In most instances, Amylin will be responsible for 20% of development costs associated with obtaining approval for products in the USA and Takeda will pay the rest and 100% abroad.

Yasuchika Hasegawa, chief executive of the Japanese drugmaker, said that by leveraging his firm’s “global development and commercial infrastructure we look forward to maximising the significant potential of the products under this agreement”. He added that both have extensive experience in the diabetes and metabolic disease area, and this collaboration should allow us to more quickly bring promising new treatments to patients in need”.

His counterpart at Amylin, Daniel Bradbury, said his company “recognises the enormous potential of this collaboration to advance more options in obesity treatment more quickly than either company could do alone”.

Sales of Takeda’s key drugs fall

News of the deal came a day after Takeda reported net income for the six months ended September 30 of 189.63 billion yen (around $2.10 billion), a 164.2% increase over the like, year-earlier period when the company booked charges related to the acquisition of Millennium Pharmaceuticals. Sales fell 6.4% to 755.45 billion yen, mainly due to the strength of Japan’s currency.

Takeda’s biggest earner, the diabetes drug Actos (pioglitazone), brought in 194.80 billion yen, down 4.1%, while the gastrointestinal drug Prevacid/Takepron (lansoprazole) decreased 11.5% to 132.00 billion yen. Sales of the blood pressure drug Blopress (candesartan cilexetil) were down 5.8% to 112.40 billion yen, while turnover from the prostate cancer treatment Leuplin (leuprorelin) fell 9.0% to 59.20 billion yen.

Takeda maintained its full-year profit forecast of 280 billion yen but slightly lowered its sales target from 1.50 trillion yen to 1.48 trillion yen.

Source: Pharma Times

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