Drug makers reportedly cut deal with FDA on fees
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Drug makers agreed to a 29 percent increase in payments to U S regulators to ensure speedy approvals of new medicines and step up safety monitoring, according to a person familiar with the accord.
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Shares in Pfizer Inc  fell around 14 percent in European and pre-opening U.S. trade on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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Wyeth  on Friday said it is considering cost cuts that could eliminate 10 percent of its work force over a three-year period, although the U.S. drugmaker said details of the initiative are not "etched in stone."
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A deal between the government and the pharmaceutical industry to cut branded drug prices by an overall 7% will save the NHS in Scotland Â£49m a year, the Scottish Executive said yesterday.
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Health officials said on Friday they  had dropped plans to keep a public list of prescription drugs  with emerging safety concerns, one of the measures proposed  after Merck & Co.'s 2004 withdrawal of its arthritis drug  Vioxx.
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Rivals lead to lower sales of the pharmaceutical's only marketed drug.
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Forest Laboratories Inc., which makes antidepressants like Celexa and Lexapro, lowered its profit outlook for 2005 as products from generic drug makers are expected to cut into its sales during the year.
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Dr. Reddy sees a dip in revenue from the loss of authorized generics.
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Shares of pharmaceutical companies OSI  Pharmaceuticals Inc. OSIP.O and Genentech Inc. DNA.N fell  sharply before the bell on Friday on concerns about the price  and a warning label on a key new drug the two collaborated to  produce.
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Rite Aid and other pharmacies are losing sales because many large healthcare companies have raised their rates by up to $125 a month recently, and they refuse to fill some drug orders unless an illness is considered life-threatening.
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Since 1992 when the Food and Drug Administration began charging &quot;user fees&quot; to drug companies seeking FDA approval, the agency has received more than $825 million in payments for its services.
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Federal number crunchers said yesterday that the new Medicare drug benefit appears to be slowing the growth in national spending on prescription medicines because the drug plans are negotiating lower prices with drug companies.
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Thailand is still talking to three major drug firms about cutting the price of certain cancer drugs but might make the medicines itself if it does not receive adequate discounts, a top health official said on Tuesday.
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Alkermes Inc., a drug developer that repackages medicines for easier use, cut its revenue forecast for the year ending March 31 to $72 million to $80 million, or as much as 30 percent less than an earlier company estimate of up to $115 million. The Cambridge company said it adjusted the forecast based on expected manufacturing revenue and the timing ...
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The decision by the Department of Veterans Affairs is likely to further reduce sales of Avandia, which have fallen steeply since a medical journal questioned the drugâs safety.
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New reports suggest another drug company moved too slowly to pull a dangerous medication from the market and question the Food and Drug Administration&#39;s ability to protect the public.
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The drugmaker said it is weighing cost cuts that could eliminate 10 percent of its work force over a three-year period.