DIRS.INFO The most relevant business & tech news

☆ Teva to pay $225 million in fines and divest generic drug to resolve price-fixing charges
▼ + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Drugmaker Teva Pharmaceuticals agreed to pay $225 million in criminal fines over five years and divest its version of a generic cholesterol drug to resolve charges related to price-fixing on that medication and other widely used treatments, the Department of Justice announced Monday. Teva, in a press release Monday, said it will pay $22.5 million each year from 2024 through 2027, and $135 million in 2028. Glenmark Pharmaceuticals will pay $30 million to resolve similar charges. Since 2020, the DOJ's antitrust division has charged five other pharmaceutical companies for participating in similar schemes affecting several generic drugs. Teva has also agreed to donate $50 million worth of two generic drugs affected by price-fixing to humanitarian organizations that provide medications to Americans in need.

Persons: Drugmaker, Teva, Jonathan Kanter, Glenmark, Apotex Organizations: Drugmaker Teva Pharmaceuticals, Department of Justice, Glenmark Pharmaceuticals, Antitrust Division, DOJ, Eastern District of Pennsylvania, Apotex Corp Locations: Eastern District

☆ Moderna's updated COVID vaccine effective against 'Eris' variant in humans
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Vials of the Moderna COVID-19 vaccine are seen at Apotex pharmaceutical company as Humber River Hospital's mobile vaccine clinic vaccinate employees as part of the coronavirus disease (COVID-19) vaccination campaign, in Toronto, Ontario, Canada April 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsCompanies BioNTech SE FollowModerna Inc FollowNovavax Inc Follow Show more companiesAug 17 (Reuters) - Moderna (MRNA.O) said on Thursday an initial study data showed its updated COVID-19 vaccine to be effective against the "Eris" and "Fornax" subvariants in humans. Moderna and other COVID-19 vaccine makers Novavax (NVAX.O), Pfizer (PFE.N) and German partner BioNTech SE (22UAy.DE) have created versions of their shots aimed at the XBB.1.5 subvariant. Earlier on Thursday, Pfizer reported that its updated COVID-19 shot, co-developed with BioNTech, showed neutralizing activity against the Eris subvariant in a study conducted on mice. Eris, the nickname for EG.5, is similar to the XBB.1.5 subvariant and a sub-lineage of the still-dominant Omicron variant.

Persons: Carlos Osorio, BioNTech, Pratik Jain, Shilpi Majumdar Organizations: Moderna, REUTERS, Pfizer, EG, Omicron, World Health Organization, Thomson Locations: Humber, Toronto , Ontario, Canada, United States, Europe, U.S, Bengaluru

☆ FDA allows temporary import of unapproved Chinese cancer drug to ease U.S. shortage
▼ + stars: | 2023-06-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Food and Drug Administration has authorized the temporary importation of an unapproved chemotherapy drug from China in an effort to ease an acute shortage of cancer drugs in the United States, according to an update posted to the agency's website on Friday. The FDA told CNBC this week that the agency was considering imports of unapproved chemotherapy drugs. An FDA spokesperson said the agency assesses the quality of unapproved drug imports to make sure they are safe for U.S. patients. Doctors say some cancer patients could die if the national shortage drugs like cisplatin is not resolved soon. At least 13 other cancer drugs are in short supply across the U.S.

Organizations: Qilu Pharmaceutical, Co, Drug Administration, U.S . Health, FDA, CNBC Locations: Hainan, Haikou, Hainan Province, China, United States, U.S, Toronto, Jinan, Shandong

☆ SK Capital Buys Generic-Drug Firm Founded by Murdered Canadian Billionaire
▼ + stars: | 2022-09-29 | by ( Paul Vieira | ) www.wsj.com time to read: 1 min

Barry Sherman, the late founder of generic-drug maker Apotex Pharmaceutical Holdings who was murdered along with his wife in 2017. OTTAWA—A New York private-equity firm has purchased Apotex Pharmaceutical Holdings Inc., the Canadian generic-drug maker founded by billionaire Barry Sherman , who was murdered along with his wife at his Toronto home and whose deaths are the subject of a nearly five-year investigation. SK Capital, which focuses on investments in the pharmaceutical and chemical sectors, said in a statement it agreed to acquire the closely held Toronto-based company. SK Capital said the transaction was subject to regulatory approval. Representatives for SK Capital and Apotex didn’t respond to requests for further comment.

Search resuls for: "Apotex"

4 mentions found