Shire CEO Flemming Ornskov has introduced a host of changes at the Ireland-based drugmaker since taking up the reins almost a year ago--and so far, they seem to be paying off. On Thursday, the company announced fourth-quarter earnings that handily beat market forecasts and predicted that growth will build in the year to come.
When Shire picked up regenerative medicine operation Dermagraft a few years ago, it quickly turned into a money-losing dog. So Shire has decided to unload Dermagraft, even if it has to take a loss on the sale.
Shire had hoped to pretty much have all of the shares of ViroPharma ($VPHM), the maker of rare disease drugs, pledged to its $4.2 billion buyout offer by the end of the year. But it didn't happen, and so it extended its $50 a share offer until last night. Now, it is extending the deadline again.
Shire is one of those companies that's always rumored to be a buyer or a seller. Not so long ago, it was setting up poison-pill protections against an unwanted suitor. Now, it has beat out Big Pharma with a deal for ViroPharma, the maker of rare disease drugs.
After ViroPharma cut short its mid-stage drug trial for Cinryze due to unexpected problems with Halozyme's delivery platform, Halozyme is taking a step back to determine what exactly went wrong and where the company will go from here.
While the U.S. drug market may be shrinking, specialty drugs are on the up-and-up--and drugmakers are taking note. Orphan drugs for rare diseases are hot commodities, and reported takeover interest in specialty producer ViroPharma shows that so, too, are their makers.
The only good news that came out of ViroPharma's second-quarter financial report today was the much improved sales of its C1 inhibitor concentrate Cynrize, which should continue to grow after the FDA finally signed off on industrial scale production at a plant in the Netherlands.
With an investor call looming, ViroPharma ($VPHM) and its partner are responding quickly to the FDA's rejection of production expansion plans for its drug Cinryze, manufactured in the...
ViroPharma lost a U.S. court bid to delay generic competition for its key product, Vancocin. The company had challenged FDA's choice to allow generics makers to launch their versions of the infection
Parallel chromatography is ViroPharma's current hero. Cheered by the success of parallel chromatography in turning out its injectable drug Cinryze, the company has now asked FDA for permission to