On Friday, the Health Regulators at the European Medicines Agency granted AstraZeneca Plc, the second largest drug manufacturer in the UK, its premarket approval on Brilinta, the new blood thinner and heart drug. The Committee for Medicinal Products for Human Use of the European Medicines Agency stated that Brilique, also known as Brilinta, would reduce the risks of heart attacks when used in combination with aspirin.
U.S. have delayed the project experimental blood thinner, ticagrelor by three months by the U.K.'s second-biggest drug maker AstraZeneca PLC's (AZN.LN).
The firm has asked to grant few more days in order to release the version to Dec. 16.
Ticagrelor, which has been released brand name Brilinta that falls under the hit drug of AstraZeneca and is at the moment under the review by firms of the European Union, Canada, and Brazil.
Due to FDA’s decision to further delay the review of AstraZeneca’s heart drug Brilinta, the Company witnessed a slide in its share prices making European shares declined by midday on Wednesday. But, the loss was compensated by the advancement in the stock prices of car makers.
The pan-European FTSEurofirst 300 index of chief shares at 1046 GMT dropped 0.3% to 1,084.14 points. In September, it increased 5.6% and the analysts showed positivity by saying that the index is still giving some of the profits.
Shares in British drug company AstraZeneca jumped more than 10 per cent to £31.77 after a US court ruled that a patent on cholesterol drug Crestor was valid.
The Crestor was challenged by nine generic drug-makers in 2007. But, the US District Court in Delaware favored AstraZeneca by describing the patent as “valid & enforceable”.
The ruling has provided AstraZeneca with monopoly over producing and selling Crestor as cheaper, generic versions of the drug now can not enter the US market until 2016.
According to Citi estimates, Crestor accounts for 20 per cent of group profits.
In a setback to Anglo-Swedish drug manufacturer AstraZeneca's plans to extend the life of its blockbuster acid reflux drug Nexium through new uses, U. S. regulators on Tuesday delayed the approval of the drug that was to be combined with aspirin.
Netting an annual sale of $5 billion, Nexium is likely to lose patent protection in key markets. And to counter its probable losses due to the non-sale of the drug, AstraZeneca is developing novel formulations to extend its franchise.
After settling a 15-year dispute with U. K. tax authorities, drug manufacturer AstraZeneca PLC raised its 2010 earnings.
AstraZeneca will pay £505 million ($781.7 million) in two installments to resolve the so-called "transfer pricing" claims dating back to 1996. Transfer pricing refers to the pricing of assets, services and funds transferred within an organization.
It plans to release part of its revenue to deal with the U. K. settlement.
After slashing as many as 12,600 jobs since 2007, Anglo-Swedish drug-maker AstraZeneca now has plans to axe further 8,000 jobs worldwide by 2014 as a part of its cost-cutting drive.
AstraZeneca also warned that it might close some of R&D sites or facilities as part of its reorganization that aims to make savings of $1.8 billion over the approaching four years.
The drug-maker announced its plans to make further job cuts despite increase in profits.
A major US patent row has been settled by AstraZeneca over Nexium with Israel based Teva Pharmaceuticals, on Thursday, which ended up protecting the Anglo-Swedish drug manufacturer's highest selling heartburn drug from immediate generic competition.
Amidst a weaker market for medicine stocks, AstraZenenca shares managed to rise by 1.4%, while Teva fell by 0.2%.
On Thursday, the giant Anglo-Swedish pharmaceutical company, AstraZeneca confirmed that it has sent in answers to all the queries that were raised by the US Food and Drug Administration for its infant lung medicine motavizumab, as the company looks to gain approval for the marketing of the drug across America.
British drug maker AstraZeneca announced Wednesday that it would acquire French drug developer Novexel in a deal worth $505 million.
Under the deal, AstraZeneca will pay $350 million anti-infection group Novexel's shares and another $80 million for its cash.
The British drug maker will pay further $75 million if specific targets in the development of its drug programs are reached.
The US Food and Drug Administration has approved AstraZeneca's drug Seroquel XR for use in adult patients suffering from depression, albeit in small numbers and only if all other treatment drugs have failed to trigger a response, as confirmed by the pharmaceutical company. The agency, however, wants more information and some more tests before it can approve the medicine as a "first-line treatment".
Giant drug manufacturers AstraZeneca and Targacept have joined hands and signed a "collaboration and license agreement" for the development and marketing of TC-5214, Targacept's drug for severe depressive disorder.
TC-5214 has recently successfully completed a Phase IIb clinical test and has been described as a "nicotinic channel blocker" which seeks to treat depression by "modulating the activity of various neuronal nicotinic receptor subtypes".
The pharmaceutical company AstraZeneca reported an increase of 24 per cent in pre-tax profits to $3.4 billion for the third quarter, partly owing to strong sales of its swine flu vaccine.
AstraZeneca said its revenue for the three months ended September was up by more than 5 per cent, while margins jumped 44 per cent.
Cholesterol drug Crestor reported sales of $1.1 billion, representing an increase of 30 per cent.
Sales of Toprol-XL also jumped 110 per cent.