Infinity and AstraZeneca terminate agreement — In 2006, Infinity had partnered with MedImmune, gaining operating cash in return for half of the future profits on its small-molecule pipeline. When AstraZeneca acquired MedImmune in spring 2007, it inherited the partnership. AZ has a strong small-molecule program of its own, however, and Infinity acquired cash through partnerships with Purdue and Mundipharma, so the agreement was worth little to either party. Apparently, the split was amicable and mutual. [Source: In Vivo]
Vytorin, from Merck and Schering-Plough, takes spot on worst PR list — Execs from Merck and S-P, cooperatively marketing the cholesterol med, supposedly suppressed study results suggesting the drug’s positive effect was minimal at best. When the news got out that Vytorin and its related drug Zetia didn’t do what they promised, both companies faced a huge fallout. The annual ranking of PR disasters come from Fineman PR. [Source: Pharmalot]
Lilly bleeds cash for ImClone — The cost of the acquisition continues to mount, with a current price tag of $4 per share for deal-related expenses, but Lilly CFO Derica Rice claimed that if even one of the promising compounds in ImClone’s pipeline pans out, the deal will pay for itself. [Source: WSJ Health Blog]
Fierce competition drives generics prices down –The average price charged to wholesalers for generic drugs dropped 8% this year, as a full 71% of prescriptions were for generic products. [Source: Bloomberg, via Corey Nahman]
