Archive: January, 2013
British-based drugmaker AstraZeneca Plc, which has its regional headquarters in Wilmington, said Thursday morning that revenue and profit declined for 2012 and would do so again in 2013.
The company said in a statement that it expected sales revenue in 2013 to decline in the "mid-to-high single digits," using constant currency exchange rates. With operating costs likely to be slightly higher, the earnings per share will decline by more than that.
The company did not announce any further layoffs, having reduced its workforce several times in the last couple years.
Federal judge J. Curtis Joyner sentenced South Philadelphia pill mill doctor Richard Minicozzi to seven years in prison on Tuesday, but he also had harsh words for the medical-school trained physicians who opt to make big money dispensing prescription pain medication without sufficient care.
Joyner referred to the "epidemic" of misuse of prescription pain medication and that doctors can’t “be dispensing them willy nilly without repercussions.”
Wednesday's Inquirer story on the sentencing is here.
Endo Health Solutions has talked in recent weeks with other pharmaceutical companies about buying the Chadds Ford-based drugmaker, Reuters reported Wednesday.
A link to the Reuters story is here.
The talks involved Warner Chilcott Plc and Valeant Pharmaceuticals International Inc., Reuters reported, citing sources it did not identify.
Vaccines sometimes work wonderfully in a modern laboratory with great facilities and healthy patients (or parents of patients) who can follow all directions, but.....
Does it work in places with no modern health-care facilities?
Does it work in places with no electricity or sporadic power?
Tim Anderson of Sanford C. Bernstein & Co., is among the Wall Street research analysts we follow.
Anderson earned medical and business degrees at the University of Chicago.
This being earnings season, we're sharing some of his thoughts on pharma companies that he covers that have a large local presence and have not yet issued their fourth-quarter and full-year 2012 reports. Bear in mind that AstraZeneca and GlaxoSmithKline figures sometimes show up in British pounds because the companies are based in the United Kingdom.
Valley Forged-based pharmaceutical wholesaler AmerisourceBergen said Thursday that its quarterly revenue rose 5.7 percent from the same period in 2011.
AmerisourceBergen's financial calendar does not mesh with typical post-on-the-wall calendars, meaning it closed its first quarter on Dec. 31, 2012.
The company is one of the three biggest drug wholesalers in the nation and the biggest Pennsylvania company as measured by revenue.
New York - Johnson & Johnson might sell its Ortho Clinical Diagnostics business if it can find the right price, chief executive officer Alex Gorsky said Tuesday morning.
The division has its headquarters in Raritan, N.J., and its research and development center in Rochester, N.Y.
Gorsky said J&J is "initiating the first steps," in the divestiture process of that division.
New York - Johnson & Johnson chief executive officer Alex Gorsky said Tuesday morning that the health-care giant is "absolutely committed" to keeping its McNeil Consumer Healthcare division in Fort Washington and restoring products to store shelves after production problems.
Gorsky spoke at an investor conference held at the Pierre Hotel in New York to discuss the company's financial results for all of 2012 and the fourth quarter.
McNeil Consumer Healthcare makes iconic over-the-counter consumer brands like Tylenol and Motrin, but the Fort Washington factory has not produced medicine since April 2010 and the factories in Lancaster and Las Piedras, Puerto Rico have operated at lower levels because of dozens of recalls.