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Industry officials are seeking ways to collaborate with Robert F. Kennedy Jr., who has been nominated as Health and Human Services secretary by President-elect Donald Trump. Kennedy's past support for controversial theories on vaccines and antidepressants has caused concern among drugmakers. Despite their reservations, industry officials are looking for areas of engagement with Kennedy and the new administration, focusing on potential cooperation in areas such as ultraprocessed foods. The pharmaceutical industry is closely monitoring the situation, as Kennedy's potential policy changes could have significant implications for drugmakers and public health. [Extracted from the article]

Investors in a hedge fund run by Baker Bros. Advisors received an $8 billion windfall after Pfizer purchased Seagen, a biotechnology company. Baker Bros. had invested in Seagen in 2003 and held a nearly 25% stake in the company. The firm gave back most of the proceeds to its investors, making it one of the largest returns of capital in the industry. Biotech investing has become popular due to big-ticket takeovers and scientific advances. The Baker brothers, known for their private and lean approach to investing, have an estimated net worth of $2.8 billion each. Seagen, previously known as Seattle Genetics, pioneered next-generation chemotherapy and was sold for $43 billion. [Extracted from the article]

Genzyme Corp. reports that third-quarter profit more than quadrupled to $69 million from $16 million a year earlier. The good quarterly results and earnings projections through 2011 bolster Genzyme's argument that Sanofi-Aventis S.A.'s bid to acquire Genzyme for $69 a share is too low.

To capitalize on emerging markets, Abbott Laboratories is negotiating the acquisition of India's Piramal Healthcare Ltd. for $3.7 billion. When the deal closes, Abbott will hold the largest market share in that country's pharmaceutical industry at 7%.

The viral contamination of its Allston Landing facility in Massachusetts is likely to cost pharmaceutical company Genzyme Corp. $1 billion in fines and decontamination charges. Genzyme has instituted new production protocols and changes to its manufacturing management.

To capitalize on growing demand in emerging markets, Sanofi-Aventis S.A. and Merck & Co. will revive an animal-health venture - Merial - which they had ended last year to clear the way for Merck's acquisition of Schering-Plough Corp. Merck will take control of 50% of Merial and contribute certain Schering assets to the venture. Sanofi will pay Merck $1 billion for the additional assets contributed to Merial.

Pfizer Inc. received approval from the U.S. Food and Drug Administration for the new version of its Prevnar childhood vaccine, Prevnar 13, which will cost about 30% more, because it protects against more strains of illness. Prevnar 13 is expected to have sales of $5.9 billion in 2015.

Pfizer Inc.'s fourth-quarter profit nearly tripled to $767 million from $266 million a year ago. To improve efficiency after its takeover of Wyeth, Pfizer plans to cut research-and-development expenditures by as much as $3 billion by 2012.

To revive its new-product pipeline and cut development costs, pharmaceutical firm Eli Lilly & Co. is considering outsourcing the testing of drugs in late-stages of development.

In a bid to slash costs after its $68 billion acquisition of Wyeth, Pfizer Inc. will close six of its 20 research sites, including two facilities in the UK. At the time of the acquisition, Pfizer announced it would cut $4 billion in combined costs, and lay off 19,500 workers from both companies.

Johnson & Johnson will buy an 18.4% stake in biotechnology firm Elan Corp. for $1.5 billion. The deal gives J&J access to Alzheimer's disease medication bapineuzumab, which is in the late stages of experimentation on humans, and has a potential annual market value of $25 billion.

Watson Pharmaceuticals Inc. will buy Arrow Group for $1.75 billion: $1.05 billion in cash, $500 million in common stock, and $200 million in preferred shares. Arrow owns the U.S. rights to sell a generic version of drug Lipitor when the drug loses patent protection in 2011. Arrow's owners will receive additional payments contingent on the sales of the generic version of Lipitor.

Pharmaceutical giant Merck & Co. will buy rival Schering-Plough Corp. for $41.1 billion. Merck will borrow $8.5 billion to finance the deal. Under terms of purchase, Schering-Plough investors would get 0.5767 share of Merck and $10.50 in cash for each share they own. Merck shareholders will own 68% of the combined company.

Byline: JONATHAN D. ROCKOFF AND SHIRLEY S. WANG; WALL STREET JOURNAL STAFF Pfizer Inc. hailed its planned $68-billion (U.S.) takeover of rival Wyeth as an ideal combination, but analysts say [...]

Byline: JONATHAN D. ROCKOFF Eli Lilly & Co. reported that its $6.5-billion (U.S.) takeover of ImClone Systems Inc. will cause a loss this year and depress net income in 2009, [...]

Pharmaceutical giant Merck & Co. is planning to form a unit, Merck BioVentures, to develop generic versions of other pharmaceutical companies' top-selling biotech drugs. Merck will invest $1.5 billion in the new venture by 2015, and launch its first biotech drug in 2012 with at least five more releases planned by 2017.

Byline: JONATHAN D. ROCKOFF AND PETER LOFTUS; WALL STREET JOURNAL STAFF WHITEHOUSE STATION, N.J. -- In a move likely to shake up the biotech industry, Merck & Co. said it [...]

Pharmaceutical giant Merck & Co. reports a 28% third-quarter net income drop to $1.09 billion, and a 2% drop in sales to $5.94 billion. The company also announced plans to reduce its global workforce by 12%, 7,200 jobs, over the next three years. Merck's shares dropped 7% to $28.01 on the New York Stock Exchange composite trading. In related news, pharmaceutical firm Wyeth reports a third-quarter net income drop to $1.14 billion from $1.15 billion, and a 3.6% revenue increase to $5.83 billion. Wyeth's shares dropped 11% to $31.10 on the New York Stock Exchange composite trading.

WASHINGTON A decade after approving the Lasik laser procedure for vision correction, federal health officials moved Friday to explore potential risks in what has become one of the country's most [...]

The camel dropped to its knees, then sank to its haunches. I clambered off its back to await darkness's arrival over the desert. It was evening on the dunes, but [...]

Perhaps I'd seen too much James Bond or watched too many National Geographic specials, but I expected the piranhas circling our fishing boat to thrash at the bait, not nip [...]

Bristol Myers Squibb has reached an agreement to acquire Karuna Therapeutics, a neuroscience-drug developer, for $14 billion. The deal includes the purchase of Karuna's experimental schizophrenia drug, KarXT, which is currently under review by the FDA. This acquisition will allow Bristol Myers Squibb to expand its presence in the growing market for psychiatric and neurological drugs. The global market for central nervous system treatments is valued at $150 billion and is expected to grow by 9% annually. [Extracted from the article]

PROVIDENCE _ For the fourth straight year, Craig Sender will watch the Super Bowl in Las Vegas. He likes viewing the game surrounded by many screaming fans. And he likes […]

JOHNSTON, R.I. _ Four of the men traveled from out of state to the cinder block building a few hundred yards from Town Hall. Three others were from Rhode Island. […]

Pfizer will price its Covid-19 drug Paxlovid at $1,390 for a five-day course, which is more than double what the U.S. government paid. However, health plans are expected to pay less than the list price, and most patients will have minimal or no out-of-pocket costs due to price discounts and assistance from Pfizer. The company has faced criticism for raising the price, as it may limit patient access. Pfizer plans to negotiate with pharmacy-benefit managers and health plans to offer steep discounts and ensure wide access to the drug. [Extracted from the article]

PROVIDENCE, R.I. _ They strode one by one into the courtroom, as prospective jurors readying to hear trials have always done. Then they raised their right hands and pledged to […]

SOUTH KINGSTOWN, R.I. _ He grew up in a true melting pot, a New Orleans neighborhood where most kids negotiated their differences with fists, knuckles and hard scrapes. But Andrew […]

HARTFORD, Conn. _ For a while, things were quiet in Rosa Ortiz's rough neighborhood. There was drug dealing, yes, and fighting, too. But it wasn't out in the open, and […]

PROVIDENCE, R.I. _ U.S. District Judge Ronald R. Lagueux has allowed a $250-million lawsuit over a 1996 terrorist attack to proceed against the Palestine Liberation Organization. In a 48-page decision […]

PROVIDENCE, R.I. _ First, a jury convicted him of murder. Then, a judge rejected his request for a new trial. Finally, the state Supreme Court denied his appeal. Now, Jeffrey […]

PROVIDENCE, R.I. _ The first hearing of Rhode Island's new Adult Drug Court, promoted as an innovative effort to divert addicts from a life of crime by sending them to […]

One factor suspected in the crash of John F. Kennedy Jr.'s airplane is a nemesis of private pilots: the billows of haze that quickly turn clear conditions inscrutable and make […]

SOUTH KINGSTOWN, R.I. _ Like many of us, Lise M. Iwon mows the lawn, hunts for bargains and often craves chocolate. She follows the mainstream at Halloween, too, placing a […]

PROVIDENCE, R.I. _ Noel David Earley has scheduled a date to end his life before the Lou Gehrig's disease that stopped his legs from working halts his breathing, too. In […]

New York-based Pfizer has been looking for acquisitions to help it offset an expected sales loss of $17 billion by 2030 as some top-selling drugs like blood thinner Eliquis and breast-cancer drug Ibrance lose patent protection in the next several years. Keywords: wsjhealth; Biotechnology Services; Pharmaceuticals; Cancer Drugs; Healthcare/Life Sciences; Biopharmaceuticals; Specialized Drugs/Medications; Ownership Changes; Acquisitions/Mergers/Shareholdings; Anti-Competition Issues EN wsjhealth Biotechnology Services Pharmaceuticals Cancer Drugs Healthcare/Life Sciences Biopharmaceuticals Specialized Drugs/Medications Ownership Changes Acquisitions/Mergers/Shareholdings Anti-Competition Issues N.PAG N.PAG 1 03/16/23 20230314 NES 230314 The drugmaker would pay $229 a share in cash for the biotech cancer specialist Graph: Pfizer has been looking for acquisitions to help it offset an aging drug lineup. The drugs could become one of the next big segments of the $375 billion worldwide cancer-drugs market, accounting for $31 billion in sales in 2028, drug-market-research firm Evaluate estimates. [Extracted from the article]