IMS Health reports a nice increase in prescription sales from 2008 to 2009, even with a recession in full swing. That said, numbers are still well below the historic sales of a few years back, and it's anyone's guess if they will reach that high again.
Monday was a gloomy day for industry as two separate drug trials went belly up. AstraZeca's Recentin proved that it wasn't up-to-snuff compared with Avastin, and the Roche/Biogen Idec arthritis collaboration treatment, ocrelizumab, may have led to fatalities.
Pfizer's strategy to use Wyeth's drug pipeline to increase its sales has paid off as the drug giant announced that its fourth quarter earnings nearly doubled year-to-year. Too bad investors are running in fear of an ugly 2010 forecast.
GlaxoSmithKline announced that it would open up its library of prospective molecules and investigational vaccines. This move gives researchers free access to study experimental treatments for illnesses that plague the world's poorest countries.
At time when people can't even get a 3 percent cost-of-living increase, how can pharma justify price hikes pushing 500 percent (in some categories). A new study by the government's General Accountability Office examines why drug products took a massive price leap in recent years.