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Australia's 2013-14 Budget includes investment in health services and PBS

14 May 2013

The Australian government today (May 14) presented its Budget for 2013-2014, saying that it delivers A$43 billion ($43 billion) in savings to return the budget to surplus and fund key nation-building reforms.

CMC Biologics and RuiYi link on MAb; Deal for Cynviloq rights in EU

14 May 2013

Denmark and USA-based contract manufacturers CMC Biologics has entered into an agreement with China's RuiYi to develop a cell line for RYI-008, a novel anti-inteleukin-6 monoclonal antibody. CMC Biologics' proprietary CHEF1 high-productivity expression plasmid will be utilized for the cell line development to optimize cell growth, and consistent, high-level protein expression in a rapid time frame. Specific terms of the agreement were not disclosed.

Merger between Intercell and Vivalis planned to complete soon

14 May 2013

French biotech firm Vivalis (Euronext: VLS) previously-announced acquisition of Intercell (ICEL.VI) in a deal valuing the Austrian vaccine maker at around 133 million euros ($174 million), and creating an enlarged entity in the European biotechnology sector under the name of Valneva, with stock market listings in Paris and Vienna (The Pharma Letter December 18, 2012) has reached the final step for closing the deal, which is described as a merger of equals, by filing of the relevant documents with the companies' register at the Commercial Court of Lyon, the French firm says.

Dr Reddy's 2012 revenues grew 20%, with earnings up 24%

14 May 2013

Dr Reddy's Laboratories (NYSE: RDY), India's second largest drugmaker, has announced its audited consolidated financial results for the fourth quarter and full year ended March 31, 2013, showing that consolidated revenues for the year were 116.3 billion rupees ($2.13 billion), recording year-on-year growth of 20%. Excluding the beneficial impact of olanzapine (Eli Lilly's antipsychotic drug Zyprexa) exclusivity in fiscal 2012, sales registered year-on-year growth of 26%.

Rx drugs bulk buying may save governments money but poses a risk for some patients, says Canadian think-tank

14 May 2013

Governments that opt for prescription drug bulk-purchasing agreements can save taxpayers money but at the risk of reducing patient health by limiting access to optimal medicines, concludes a new report from the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Countries must fix critical access to medicines flaws in Trans-Pacific Trade Pact, says MSF

14 May 2013

As negotiations for the Trans-Pacific Partnership (TPP) restart in Lima, Peru, tomorrow (May 15), countries must prioritize fixing critical flaws in the agreement that could leave millions of people in developing countries with limited access to affordable generic medicines, international medical humanitarian organization Medecins Sans Frontieres (MSF) said today.

BioAlliance updates on Livatag development

14 May 2013

French orphan cancer drug developer BioAlliance Pharma (Euronext Paris: BIO) says that the International Independent Board of Experts' Data and Safety Monitoring Board (DSMB) again recommended continuing the ReLive Phase III trial without modification.

India-developed rotavirus vaccine demonstrates strong efficacy

14 May 2013

In a public-private partnership, the Indian government's Department of Biotechnology (DBT) and Bharat Biotech announced positive results from a Phase III clinical trial of a rotavirus vaccine developed and manufactured in India. Data from the trial, presented at the International Symposium on Rotavirus Vaccines for India - The Evidence and the Promise, showed ROTAVAC to have an excellent safety and efficacy profile, is reported by EurekAlert.

Merck KGaA adjusted 1st-qtr earnings leap 19%, beating forecasts

14 May 2013

Shares of Germany's Merck KGaA out on 1.9% to 124.52 euros this morning (May 14), after the company reported first-quarter 2013 results showing a 4% increase in sales to 2.7 billion euros ($3.5 billion), driven by 3.5% growth in its pharma unit Merck Serono to 1.55 billion euros, a 9.0% rise in Performance materials to 421 million euros, 2.5% growth in Millipore sales to 669 million euros, and 7.9% growth in consumer health to 108 million euros.

IQWiG re-assessments come up with same view for saxagliptin and different for crizotinib

14 May 2013

Under the rules of the German Act on the Reform of the Market for Medicinal Products (AMNOG), the Institute for Quality and Efficiency in Health Care (IQWiG) has now assessed additional information to studies for two drugs, US pharma behemoth Pfizer's (NYSE: PFE) Xalkori (crizotinib) and Drug major Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca's (LSE: AZN) Onglyza/Komboglyze (saxagliptin).

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