AstraZeneca sues FDA over generic Seroquel

A worker leaves the AstraZeneca research facility in LoughboroughLONDON (Reuters) – AstraZeneca said on Tuesday it was suing the Food and Administration after the U.S. regulator refused to delay the market entry later this month of generic versions of top-selling antipsychotic Seroquel. The drugmaker is seeking an injunction barring the FDA from granting final marketing approval of generic forms of the drug, whose chemical name is quetiapine, until December 2, 2012, or at least until a federal court has a chance to review the agency’s action. …

Deutsche cuts Biocon target price after Pfizer exit

MUMBAI (Reuters) – Deutsche Bank cut its target price for Biocon Ltd shares by 9 percent to 215 rupees after Pfizer Inc ended a deal to sell insulin products made by the Indian drugmaker. “This issue raises its risk profile in this high-risk, capital-intensive business,” Deutsche Bank wrote in a research note. Biocon shares were trading at 253.75 rupees at 1.30 p.m. (0800 GMT), down 5.16 percent. The separation leaves India’s biggest biotech company without a partner to sell the insulin drugs in key global markets such as the United States. (Reporting by Abhishek Vishnoi; Editing by Ted Kerr)

Pfizer scraps insulin deal with India’s Biocon

MUMBAI (Reuters) – Pfizer Inc, the world’s largest drugmaker, has scrapped a deal to sell insulin products made by Biocon Ltd, leaving India’s biggest biotech company without a partner to sell the drugs in key global markets such as the United States. The two companies cited “individual priorities” as the reason for the split in a joint statement released on Tuesday, which immediately ends a relationship that stood to earn Biocon hundreds of millions of dollars in royalties. …

India’s Biocon to retain milestone payments from Pfizer deal

MUMBAI (Reuters) – India’s Biocon Ltd will retain milestone payments it received from Pfizer Inc as part of a deal that allowed the U.S. drugmaker to sell Biocon’s insulin products globally, Biocon’s chairman said, without providing details. Certain additional payments would also come from Pfizer, Kiran Mazumdar Shaw told CNBC-TV18 on Tuesday. “This (additional) income will get reflected in our quarterly numbers,” she said, declining to give details. …

Study prompts call for wider ban on metal hips

LONDON (Reuters) – New research confirmed that all-metal artificial hips fail more often than other types, fuelling concerns about the devices and prompting a call from researchers on Tuesday for a ban. The analysis in The Lancet medical journal came two weeks after Britain’s medical regulator said nearly 50,000 Britons with metal-on-metal hips needed annual check-ups to monitor for problems, including exposure to toxic metals. …

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