Archive: May, 2012
GlaxoSmithKline said Wednesday morning it would play a bit more hardball with Human Genome Sciences as the British drugmaker tries to absorb the U.S. company by making tender offer for all outstanding shares.
GSK is based in London but has a big operation in Center City and facilities in suburban Philadelphia.
On April 18, Human Genome Sciences disclosed GSK's offer of $2.6 billion. But HGS management declined the offer by saying it undervalued the company and invited GSK to participate in a "strategic review process" to maximize the value for HGS shareholders.
The Justice Department, 49 states and the District of Columbia announced that Abbott Laboratories had pleaded guilty to criminal charges and agreed to pay $1.5 billion over allegations that it promoted the anti-seizure drug Depakote for uses unapproved by the U.S. Food and Drug Administration.
For the moment, that is the new record for the largest fine for bad behavior primarily focused on one drug.
The record is likely to surpassed if or when the Justice Department, several states and Johnson & Johnson settle on figures related to allegations of various bad behaviors related to Risperdal. (By the way, in Monday's SEC filing, J&J says it remains confident that the $1.1 billion fine it got in Arkansas will be overturned and it has not set aside money for it.)
Preventing HIV/AIDS has been a goal since the disease was recognized in the 1980s.
On Thursday, for the first time, a U.S. Food and Drug Administration advisory committee will review a new drug application for a compound that its manufacturer says will help prevent AIDS.
Gilead Sciences, Inc., produces the drug Truvada (emtricitabine/tenofovir disoproxil fumarate), which is already approved for use in treating some patients that already have AIDS.