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Pfizer Inc. said on Friday its experimental rheumatoid arthritis drug met most of the main goals of a late-stage clinical trial.
If approved, it would compete with injectable treatments such as Humira, made by Abbott Laboratories, Amgen Inc.’s Enbrel, and Remicade, made by Johnson & Johnson. Get the full story »
From Bloomberg News | Abbott Laboratories’ Humira spurred resistance in more than a quarter of patients taking the rheumatoid arthritis drug in a study, a finding that may weaken demand for the company’s top-selling medicine. Get the full story>>
Abbott Laboratories and its top selling rheumatoid arthritis drug Humira are strong enough to withstand looming competition from a new pill developed by Pfizer Inc., analysts say, despite investor fears that have hobbled Abbott’s shares. Get the full story »
Pfizer Inc. said Friday that its experimental rheumatoid arthritis drug met the main goals of a late-stage clinical trial, a welcome boost for the world’s largest drugmaker as it seeks new products to offset those losing patent protection.
The drug, tofacitinib, is one of the most important in Pfizer’s pipeline. The company said the safety profile of the drug was consistent with that seen in the clinical program, and no new safety signals were seen. Get the full story »
Abbott's Humira drug. (Handout)
Turning back a threat to sales of Abbott Laboratories’ most lucrative drug, a federal appeals court Wednesday overturned a lower court ruling that claimed the North Chicago drug giant used Johnson & Johnson’s technology to make a blockbuster rheumatoid arthritis drug.
Humira is Abbott’s largest-selling product and one of the world’s top-selling drugs, generating more than $5 billion in annual sales as a treatment for rheumatoid arthritis, Crohn’s disease and psoriasis among other autoimmune disorders.
The ruling in the U.S. Court of Appeals for the Eastern District of Texas overturned a $1.67 billion verdict against Abbott from Marshall County. At the time of the lower court ruling last year, observers said it was known for being friendly to plaintiffs. Get the full story »
Abbott Laboratories said Wednesday that it would cut 1,900 jobs, or 6 percent, of its U.S. workforce in the wake of a series of disappointments in its drug development pipeline, triggering a restructuring of pharmaceutical commercial and manufacturing operations.
Of the cuts, about 1,000 would be in manufacturing operations in Illinois where the largest concentration of Abbott’s estimated 90,000 employees around the world are at its sprawling headquarters in the northern Lake County suburbs of Chicago. The company said about half of the job cuts would take place now with the remainder over the next several years. Get the full story »
