Drugmaker Shire, Plc, said Monday it will pay $4.2 billion for Exton-based ViroPharma.
Shire is registered, headquartered and based in the Channel Islands, Ireland and the United Kingdom, but one of its main U.S. facilities is in Chesterbrook.
Shire's best-selling drug is the Vyvanse, a medicine for attention deficit hyperactivity disorder.
PhillyPharma is on furlough. Be well.
Israeli media reported earlier this week that part of the disagreement between now-former Teva Pharmaceuticals CEO Jeremy Levin and the company's board of directors is that Levin ordered an investigation that involved lie detectors tests for some key employees and board members.
Israel's Channel 2 reported, according to the Globes, a business publication, that Levin was frustrated with the board's day-to-day involvement and its tendency to chat with reporters. A link to the Globes story is here.
Here is the key passage:
Despite 18.4 percent profit decline, AstraZeneca CEO tells Inquirer no new layoffs are planned in Delaware
Despite an 18.4 percent drop in quarterly profit, AstraZeneca Chief Executive Officer Pascal Soriot said Thursday in response to a question from the Inquirer that there are no plans for more layoffs at the company's facilities in Delaware.
AstraZeneca is based in London and has facilities in Wilmington and Newark.
In March, the company cut 2,300 jobs from its worldwide workforce, including 1200 from its Delaware facility. Some of the positions were moved to AstraZeneca's facility in Gaithersburg, Md., but not all. And reports at the time suggested AstraZeneca considered closing its Wilmington facility entirely. Though most of the research jobs are gone, some U.S. commercial operations remain in Wilmington.
A day after surprising markets with the resignation of chief executive Jeremy Levin, Teva Pharmaceutical Industries reported Thursday a 2 percent revenue increase and a $711 million profit in the third-quarter of 2013, with the profit attributable to a big drop in money set aside for legal settlements.
Teva is based in Israel, but has several operations in Philadelphia suburbs and employs about 2,300 people in Pennsylvania.
Teva is the world's leading seller of generic drugs and the company attributed the revenue gains to improvements in U.S. generic sales. Still, the branded-drug Copaxone, which is used to treat multiple sclerosis, remains the company's single largest revenue generator with $1.01 billion in third quarter sales, a 1 percent increase. The challenge is that Copaxone might have generic competition as soon as May.
British drugmaker AstraZeneca said Thursday that its profit declined 18.4 percent in the third quarter of 2013 compared with the same period in 2012.
AstraZeneca is based in London and has facilities in Wilmington and Newark, Del. The company has cut jobs worldwide and in Delaware in recent months but there was no mention of new layoffs in the report issued Thursday morning before the London Stock Exchange opened.
A link to the press release, with the numbers, is here. The company has conference calls with reporters and analysts scheduled for later Thursday.
The turmoil at Teva Pharmaceutical Industries, Ltd., reached a new high Wednesday morning when the company announced that Chief Executive Officer Jeremy Levin "has agreed" with the board of directors to step down.
Levin was hired on Jan. 1, 2012 and didn't start until May of 2012. The company is based in Israel, but has big operations in suburban Philadelphia. Chief Financial Officer Eyal Desheh will take over as interim CEO.
Teva's statement is here:
Drugmaker Pfizer, Inc., said Tuesday that its profit fell 19 percent in the third quarter of 2013 compared with the same period in 2012.
Based in Manhattan with a big operation in Collegeville, Pfizer cited generic competition as the main cause of declines in revenue and profit. A link to Pfizer's press release and numbers is here.
Pfizer has been re-organizing in hopes of improving efficiency. Part of that was spinning off its animal health unit, Zoetis, which was completed in June.