Latest Pharmaceutical manufacturing News

Chinese company in vaccine scandal declared bankrupt

Nov. 8, 2019 3:24 AM EST

BEIJING (AP) — A Chinese maker of rabies vaccine that was fined 9.1 billion yuan ($1.3 billion) in a quality scandal that set off a crackdown on the industry said Friday it has been declared bankrupt. Changchun Changsheng Life Sciences Ltd., which lost its production licenses last year, said in a statement...

White House and Pelosi part ways on relief for drug prices

Nov. 5, 2019 5:01 PM EST

WASHINGTON (AP) — The White House on Tuesday signaled President Donald Trump's blunt thumbs-down to House Speaker Nancy Pelosi's plan allowing Medicare to negotiate drug prices. Her office's sharp retort: "Working people won't like it if he sells them out." Despite the House impeachment inquiry, the White...

Asian shares mostly lower following Wall Street losses

Oct. 30, 2019 1:29 AM EDT

BANGKOK (AP) — Shares fell in Asia on Wednesday after weak earnings for technology and media companies led stocks lower on Wall Street. The modest pullback came a day after the S&P 500 hit an all-time high. Reports that China and the U.S. may not reach a trade agreement in time to sign a deal next...

Pfizer narrows its focus and profit soars in 3Q

Oct. 29, 2019 2:01 PM EDT

Pfizer's third-quarter profit nearly doubled after it booked an $8.1 billion gain on paper by creating a consumer health products joint venture, a key part of the drugmaker's plan to slim down and focus on innovative medicines. Those include blockbusters like blood thinner Eliquis, breast cancer drug Ibrance and...

Merck sales soar but 3Q profit dips on higher spending

Oct. 29, 2019 10:24 AM EDT

Big jumps in sales of Merck's top two blockbuster drugs drove revenue up 15%, but higher spending across the board pushed profits down 3% in the third quarter. Merck still easily beat Wall Street forecasts and boosted its forecast for the year. The quarter was dominated again by advanced cancer drug Keytruda,...

Asian shares mixed after S&P 500 hits all-time high

Oct. 29, 2019 12:13 AM EDT

BANGKOK (AP) — Shares were mixed in Asia and Chinese benchmarks fell Tuesday after the S&P 500 index closed at an all-time high. The rally Monday came at the beginning of a busy week of corporate earnings and economic reports and with investors expecting another interest rate cut by the Federal...

Stocks post gains on solid earnings, US-China trade optimism

Oct. 25, 2019 5:51 PM EDT

The S&P 500 closed just short of an all-time high Friday as investors welcomed solid company earnings reports and an encouraging update on trade talks between the U.S. and China. Technology, communications services and financial stocks powered the rally. The index ended within 0.1% of its record set July 26....

Asian shares mixed as earnings drive modest Wall St gains

Oct. 24, 2019 12:01 AM EDT

BANGKOK (AP) — Asian shares were mixed on Thursday after U.S. stock indexes eked out tiny gains in a wobbly day of trading as investors reviewed another set of mixed company earnings. Japan's Nikkei 225 advanced 0.6% to 22,763.93 and the Hang Seng in Hong Kong climbed 0.4% to 26,682.41. The Shanghai...

Pelosi's prescription for high drug prices clears committee

Oct. 22, 2019 10:15 PM EDT

WASHINGTON (AP) — A powerful House panel has approved House Speaker Nancy Pelosi's legislation to lower prescription drug prices for seniors and working-age people. The Ways and Means committee voted Tuesday along party lines, moving the bill closer to floor action. It fulfills a long-sought Democratic...

Over-the-counter heartburn drug Zantac pulled in US, Canada

Oct. 18, 2019 3:56 PM EDT

Drugmaker Sanofi is recalling its over-the-counter heartburn drug Zantac in the U.S. and Canada because of possible contamination. The French company Friday joined other drugmakers that have recently recalled their versions of the popular heartburn and ulcer drug. In September, the Food and Drug Administration...