Skip to NavigationSkip to content

reuters

J&J announces $5bn share repurchase

New Jersey-based pharma firm Johnson & Johnson plans to buy back $5 billion in shares after news agency Reuters released an investigation which led to the company losing more than $45 billion in market value over just two days.

Shares in the company plummeted on Friday after a Reuter’s investigation revealed that the company had known its baby powders had been contaminated with asbestos since at least 1971.

J&J shares plummet after asbestos cover up allegations emerge

Shares in American healthcare firm Johnson & Johnson plummeted on Friday after news agency Reuters reported that the New Jersey-based multinational had known its talcum powders had been contaminated with asbestos since the 1970s.

In reviewing documents made public by courts, Reuter’s investigators found that J&J had been aware that their baby powders were contaminated with trace amounts of asbestos since at least 1971.

Whistleblower accuses Novartis of paying bribes in Turkey to push sales

An anonymous whistleblower has accused Swiss drugmaker Novartis (SIX: NOVN) of paying bribes in Turkey through a consulting firm to push drug sales, according to a Reuters report.

The company secured advantages worth an estimated $85 million (£59 million) and the bribes were paid through a consulting firm, the report said.

Regulators ‘more efficient at approving drugs’

FDA image
Between 2011-2013, 20% of FDA approvals were granted within six months of submission

Global regulatory bodies have become faster at approving new drug products more quickly and consistently, according to a new analysis published by the UK-based Centre for Innovation in Regulatory Science (CIRS).

The research found that six of the leading drugs regulators worldwide had improved the efficiency of their times top new drug approval over the past decade.

Reuters chief executive joins Pfizer board

Published on: 02/07/14

Pfizer has appointed the chief executive of information and media giant Thomson Reuters to its board of directors.

James Smith joins the firm immediately and has also been appointed to its corporate governance and science and technology committee.

Smith is the president and chief executive of Thomson Reuters where he has served on its board of directors since January 2012. Prior to this he held various leadership positions there, including chief executive and chief operating officer (COO) of its professional division.

Bayer to make $14 bn move for Merck unit

Bayer image

Bayer is in talks with Merck & Co to buy its consumer business and is willing to pay $14 billion for the division, people with knowledge of the matter tell Bloomberg.

A deal is believed to have been made ‘in principle’, although a formal agreement is yet to be reached, according to sources.

They add that the terms of the acquisition would include cash and an exchange of pharmaceutical assets, possibly structured as a joint venture.

Report: ‘R&D isn’t paying’

research image

On average, the world’s biggest pharma companies are not getting enough of a return out of their R&D efforts, according to a new report by Deloitte and Thomson Reuters.

The new research, the fourth in an annual series, looks at data from Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck & Co, Novartis, Pfizer, Roche, Sanofi and Takeda.

The projected return on investment from that group of manufacturers’ pipelines has declined over the past four years, from 10.5% in 2010 to 4.8% in 2013.

Mission Statement
Pharmafile.com is a leading portal for the pharmaceutical industry, providing industry professionals with pharma news, pharma events, pharma service company listings and pharma jobs,
Site content is produced by our editorial team exclusively for Pharmafile.com and our industry newspaper Pharmafocus. Service company profiles and listings are taken from our pharmaceutical industry directory, Pharmafile, and presented in a unique Find and Compare format to ensure the most relevant matches