Recipharm to buy Consort for £505m

Consort Medical, medical devices makers was snapped up today by a Swedish rival Recipharm for £505m, delivering a boost to City Investors. Consort Medical whose brands include Besapk Asthma inhalers. ASIC medicine making facility and disposable syringes has eight manufacturing sites across the UK and employs over 2000 staff. The bid is a 39 per…

Walgreen b oots owner in $70bn deal to go private

Walgreens Boots Alliance has held talks with a private equity group on a $70bn deal to go private. Aggressive deal making by Stefano Pessina the Italian billionaire who owns 16 per cent of the global pharmacy group has assembled a business that spans 25 countries and generates  $34bn in revenues. Shares in the company rose…

Pfizer and Mylan drugs patent merger

Pfizer is expected to announce today that it will combine its off-patent drug business with Mylan, the generics drugmaker with a market value of $9.5bn.  The US drugmaker is expected to create a new unit with larger seller of off-patent and generic medicines including Lipitor and Viagra. Mylan shareholders  will hold just over 40 per…

Welsh scientist on the forefront of Stem cell cure for blindness

Tests on three American blind patients – two men and a woman- who were legally blind produced exciting results according to Olav Hellebo, CEO of UK bio-tech Firm ReNeuron in Bridgend ,Wales. Before the procedure the three could read only the largest group of letter on a special eye test chart, as they had retinitis…

Unilever trumps Nestle to buy GSK’s Horlicks unit

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…

Pharma chief blamed for spurring opioid crisis in US

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 acquires online Pharmacy PillPack

  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…

US approved Marijuana based epilepsy drug grown in UK

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 £842.5m deal with Axovant

 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…

Corex cough syrup banned in India

  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…