Month: April 2013

By Jessica Toonkel and Ben Hirschler NEW YORK/LONDON (Reuters) – At least three of the world's top drugmakers are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at more than $5 billion, people familiar with the matter said. Pfizer Inc, Novartis AG and Abbott Laboratories are all weighing second-round bids to acquire the company, which boasts a strong position in Brazil's fast-growing pharmaceuticals market, the people said. Bids are due in the second half of April, two of the people said, asking not to be identified because the auction is not …

By Ben Hirschler and Kaustubh Kulkarni LONDON/MUMBAI (Reuters) – Stung by a landmark patent defeat, Western drugmakers will be wary about launching new products in India, but they cannot afford to quit a country tipped to be the world's eighth largest market for medicines by 2016. Makers of patented drugs will in future have to get more creative about doing business in India, including striking deals with local firms to sell cheaper versions of their drugs, industry experts believe. …

By Doug Palmer WASHINGTON (Reuters) – The United States said on Tuesday it was considering its response to an Indian Supreme Court ruling that U.S. drug manufacturers warn is the latest sign of a “deteriorating” environment for intellectual property rights in the country. “We are … reviewing the Court’s order. We look forward to continued engagement and successful collaboration with India on these issues,” said Andrea Mead, a spokeswoman for the U.S. Trade Representative’s office. …

A year after a New Jersey mom was arrested for her 5-year-old’s alleged tanning booth sunburn, Gov. Chris Christie has signed a bill into law that bans children under the age of 17 from using commercial tanning facilities.

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Flu season may be coming to an end in some parts of the world, but a new influenza virus harbored by birds may be starting its global assault.

By Zeba Siddiqui (Reuters) – After three decades without bringing a drug to market, Sarepta Therapeutics Inc stands on the verge of a breakthrough with its treatment for a crippling genetic disorder that affects one in every 3,500 newborn boys. If U.S. regulators fast-track approval of its treatment for Duchenne muscular dystrophy, as some investors are betting, it would complete a remarkable turnaround for the company that began life as AVI Biopharma in Corvallis, Oregon, 33 years ago. …

WASHINGTON (AP) — President Barack Obama on Tuesday proposed an effort to map the brain's activity in unprecedented detail, as a step toward finding better ways to treat such conditions as Alzheimer's, autism, stroke and traumatic brain injuries.

JOHANNESBURG (Reuters) – Former South African president Nelson Mandela's condition has not changed after a weekend improvement, the government said on Tuesday, and it denied media reports suggesting the anti-apartheid hero had suffered a relapse in his pneumonia. "His condition is unchanged as reported yesterday," presidency spokesman Mac Maharaj told Reuters. …

(Reuters) – Shares in some of the largest health insurers surged on Tuesday following an announcement late Monday by the government that it would increase payment rates for Medicare Advantage in 2014. The Centers for Medicare & Medicaid Services announced after the market closed on Monday that it would raise the reimbursement rate by 3.3 percent next year instead of cutting it by 2.3 percent, as it had proposed in February. Humana Inc said on Tuesday that the government’s move is an improvement over earlier proposals, but it still faces challenges in certain parts of the country. …