Feb. 23 at 1:04 p.m.
Filed under:
Litigation,
Pharmaceuticals
By Bruce Japsen
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 »
Nov. 1, 2010 at 11:18 a.m.
Filed under:
Conventions,
Politics,
Tourism,
Updated
By Bruce Japsen
Mayor Richard M. Daley and Governor Pat Quinn open the Bio International Convention at McCormick Place on May 4, 2010. (Nancy Stone/Chicago Tribune)
The Biotechnology Industry Organization said its international convention will return to Chicago’s McCormick Place in 2013 and 2016.
“Chicago has hosted two successful and exciting BIO International Conventions, in 2006 and 2010, and we are thrilled to bring the world’s largest gathering of the biotechnology industry back to the windy city and the Midwest,” said Jim Greenwood, chief executive officer of the BIO International Convention.
The convention attracts more than 15,000 people from the agricultural, pharmaceutical and medical device industries as well as government leaders from around the world. Get the full story »
Oct. 22, 2010 at 5:18 p.m.
Filed under:
International,
Investing,
Pharmaceuticals
By Reuters
Genzyme Corp. made its case for why it is worth more than Sanofi-Aventis’s $18.5 billion offer, forecasting 2011 profit above Wall Street estimates and sales of $3 billion for its experimental multiple sclerosis drug. Get the full story »
Aug. 30, 2010 at 7:05 a.m.
Filed under:
M&A,
Pharmaceuticals
By Reuters
Genzyme Corp. rejected an $18.5 billion takeover offer from French drugmaker Sanofi-Aventis, saying it dramatically undervalues the company. The Cambridge, Mass.-based biotechnology company said its board of directors met Sunday night and unanimously affirmed a previous rejection of Sanofi’s proposal. Get the full story »
Aug. 26, 2010 at 8:32 a.m.
Filed under:
Earnings,
Pharmaceuticals
By Michael Oneal
Lake Bluff biotech company Neopharm Inc. said Thursday that it had narrowed its losses in both the second quarter and first half of this year and reported progress in clinical trials for its breast, pancreatic and prostate cancer drugs.
But Aquilur Rahman, president and chief executive officer, warned that with cash dwindling to $1.8 million as of June 30, the company needs new funding to continue. Get the full story »
