So why read Pharma R&D, business news? Because it offers following benefits-
- Enables investors to take “wise decisions”.
- Assists Job seekers to realize “where to invest their career”.
- Helps community to abreast themselves of new medicine introductions, availability of low cost generics and overall to think wise about “how they can control their health care costs”.
Here are some updates from current pharma business news-
Big pharma companies look to tap generic drug business in emerging markets.
On the front of its Business Day section, the New York Times reported, "Some prestigious brand-name pharmaceutical companies that once looked askance at the high-volume, low-cost business of generic drugs are now becoming major purveyors of generic medicines." Drug makers, such as Sanofi-Aventis and GlaxoSmithKline "are pursuing a growing consumer base in emerging markets like Eastern Europe, Asia and Latin America where many people pay out of pocket for their medicines but often cannot afford expensive brand-name drugs." In addition, "in some emerging markets, where the fear of counterfeit drugs or low-quality medicines runs high, consumers who can afford it are willing to pay a premium for generics from well-known makers, industry analysts said."
Quintiles to invest in more drug development research.
Quintiles Transnational Corp., which is the world's biggest contract research organization, is now using its deep pockets to entwine itself with the pharmaceutical companies, fronting them cash and services for a piece of the profits once a drug is approved. Last month, Quintiles also said it wants to invest even more in drug development and is hoping its new investments will produce enormous payoffs in the future, but the buffer between drug makers and testers are again blurred. However, Ron Wooten, a Quintiles executive vice president who heads the company's capital investment group, doesn't see his company's increased interest in bringing drugs to the market affecting its testing objectivity. Instead Quintiles is the outsider turning a hard eye on which pharmaceuticals will become profitable.
Medicare recipients have appeal options when coverage for certain drugs is denied.
The Wall Street Journal reported that, each year, millions of Medicare recipients discover that their drugs are no longer covered by their Part D plans. While seniors in this situation can often substitute generic drugs for brand-name ones, they also have the option of appealing the denial, particularly if their plan did not notify them in a timely manner of the changes. The Journal said that typically, seniors who appeal have a good chance of success, but, in case their appeal is denied, they have 60 days to file a second appeal to Maximus Federal Services (www.medicarepartDappeals.com ).
Lilly to use outside contractors to help its drug pipeline.
The Wall Street Journal reported that Eli Lilly & Co. is hiring outside contractors to run tests on its drug candidates as part of new efforts to be more productive. Lilly will use scientists outside of its own research team to decide whether to move a promising molecule to treat rheumatoid arthritis into late-stage testing, based on mid-stage data. The Journal adds that Lilly is among a number of pharmaceutical companies adopting new strategies to stimulate its research-and-development and to reduce the chance that compounds will fail in more expensive late-stage trials.