GlaxoSmithKline has entered into exclusive final negotiations to sell its Indian nutrition business to Unilever ending several months of auction process for the£3.28bn ( $4bn) unit that includes the prized India’s Horlicks malted drink brand. The Anglo-Dutch consumer company beat a rival bid from Swiss food and beverage group Nestle which was eyeing up to…
Dr. Richard Sackler, a billionaire pharmaceuticals executive, and whose family own Purdue Pharma, the company behind the painkiller OxyContin, which was granted a patent in January this year for reformulation of a drug used to wean addicts off opioids who have been blamed for spurring the US Opioid crisis stands to profit from the epidemic…
Amazon has acquired Pillpack an online pharmacy group that delivers prescription drugs to the homes of patients with chronic ailments, sending investors deviating from traditional drug store chains. Amazon plans to start selling prescription drugs in its quest to make itself a one-stop shop for everything from clothing, batteries to television, film, food and…
The US drug regulator has approved the first cannabis-based epilepsy treatment for children as young as two. GW Pharmaceuticals, which grows its own marijuana plants in glass houses in Britain, hopes the drug will be approved in the UK next year. Justin Glover, the CEO, said “ This is a new breakthrough in the field…
Oxford BioMedica in a £738.88m deal with Axovant which specialises in treatment for neurological diseases is a subsidiary of Roivant Sciences. Oxford BioMedica, one of Britain’s oldest biotech companies, has sealed an $842.5m ( £738.88m) deal with Axovant Sciences of the US to commercialise its gene therapy for Parkinson’s disease. New of the worldwide deal…
The Indian government imposed a ban on codeine-based Corex cough syrups, as they posed a health risk, and soon after shares in the Indian unit of US based drugmaker Pfizer tumbled by 9 per cent. Pfizer’s India unit said in a statement it had stopped selling its Corex cough syrup that contains codeine, a…
The Californian group, Porteus Digital health has developed the first “digital pill” that tell doctors when their patients have taken them – had its drug application accepted by US regulators. This chip in the pill will ensure patients stick to their prescriptions and reduce the wasteful spending on drugs that are not taken properly. This…