Latest Pharmaceutical manufacturing News

Ruling keeps alive Abu-Jamal's lawsuit over hepatitis drugs

Jul. 19, 2019 5:24 PM EDT

HARRISBURG, Pa. (AP) — A federal appeals court on Friday kept alive a lawsuit brought by Mumia Abu-Jamal, who was convicted in the killing a Philadelphia police officer in 1981, that alleges his rights were violated when he was denied hepatitis C drugs. The 3rd U.S. Circuit Court of Appeals upheld a...

Court upholds 'Pharma Bro' Martin Shkreli's conviction

Jul. 18, 2019 12:54 PM EDT

NEW YORK (AP) — A federal appeals court upheld the securities fraud conviction against former drug company CEO Martin Shkreli, known as "Pharma Bro," on Thursday, along with a $7.3 million forfeiture of assets. A judge sentenced Shkreli to seven years in prison last year for his conviction on charges he...

Bayer moving 500 jobs from North Carolina to St. Louis

Jul. 16, 2019 4:37 PM EDT

JEFFERSON CITY, Mo. (AP) — German pharmaceutical giant Bayer AG is closing its crop science division headquarters in North Carolina and moving 500 jobs to the St. Louis area, Missouri Gov. Mike Parson and a company executive announced Tuesday. Lisa Safarian, Bayer's commercial operations-North America...

Johnson & Johnson 2Q profit jumps 42% despite lower sales

Jul. 16, 2019 10:59 AM EDT

Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 percent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune...

Biden cancer nonprofit suspends operations indefinitely

Jul. 15, 2019 1:26 PM EDT

WASHINGTON (AP) — A nonprofit foundation set up by Democratic presidential candidate Joe Biden that relied on health care world partnerships to speed a cure for cancer has suspended its operations, it announced Monday. The Biden Cancer Initiative's sudden move to cease its activities comes two years after...

Stocks climb to records on hopes for lower interest rates

Jul. 12, 2019 4:30 PM EDT

NEW YORK (AP) — The major U.S. stock indexes closed at record highs on Friday, with the S&P 500 ending above 3,000 for the first time. The market was driven higher by technology, consumer discretionary and industrial company stocks, which more than offset the drop in drugmakers. Investors continued to...

Asian shares mostly higher after Wall St sets new records

Jul. 12, 2019 12:19 AM EDT

BANGKOK (AP) — Shares in Asia are mostly higher after a turbulent day on Wall Street ended with the Dow Jones Industrial Average closing above 27,000 for the first time. Japan's Nikkei 225 index edged 0.1% higher to 21,674.14 and the Hang Seng in Hong Kong added 0.5% to 28,575.96. The Shanghai Composite...

Setbacks for Trump's drive to lower prescription drug costs

Jul. 11, 2019 6:09 PM EDT

WASHINGTON (AP) — After two setbacks this week, President Donald Trump is now focusing his drive to curb drug costs on congressional efforts aimed at helping people on Medicare and younger generations covered by workplace plans. The White House on Thursday yanked its own regulation to ease the financial...

Markets Right Now: Dow has first close above 27,000 points

Jul. 11, 2019 4:13 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. The Dow Jones Industrial Average climbed above 27,000 for the first time after a turbulent day on Wall Street. The S&P 500 also hit a closing high milestone of its own Thursday, a day after its first move above...

Judge strikes down rule requiring drug ads to reveal prices

Jul. 8, 2019 10:52 PM EDT

WASHINGTON (AP) — A federal judge Monday blocked a major White House initiative on prescription drug costs, saying the Trump administration lacked the legal authority to require drugmakers to disclose their prices in TV ads. The narrow ruling by U.S. District Judge Amit Mehta in Washington, D.C., struck...