Zyxprexa:Eli Lilly's Turn In The "Hot Seat"

Sales are up, Eli Lilly’s share price closed at $59.28 yesterday and its blockbuster anti-psychotic drug Zyprexa® had worldwide sales in excess of $4.0 billion in 2006. So, what is wrong with this picture? Apparently, there are new questions about the accuracy of the safety data that were submitted by Eli Lilly to FDA as part of the Zyprexa new drug application (NDA) in 1996.

The FDA has questions about a Lilly document from February 2000 that suggests that patients taking Zyprexa in clinical trials were three and half times as likely to develop high blood sugar (hyperglycemia) than patients who were not taking the drugs. According to FDA, this bit of information was not submitted as part of the Zyprexa NDA. Instead, the company submitted data to the agency that indicated that patients treated with Zyprexa developed high blood sugar at a rate of 3.1% whereas those taking placebo developed hyperglycemia at a rate of 2.5%. Further, there are other documents from Feb. 2000 that indicated that Lilly scientists discussed whether Zyprexa’s label should changed to alert doctors of the risk of hyperglycemia associated with the drug. These documents along with internal e-mail messages contradict public statements that were made by Lilly about Zyprexa’s risks and overall safety.
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Venture Capital Firms Are Venturing into China

The New York Times reported today that the high profile technology investment firm Kleiner Perkins Caufield & Byers is opening offices in Shanghai and Beijing and plans to invest a $360 million fund in Chinese Internet, energy, media and communications start-ups. Ted Schlein, a partner at the firm, commented that his firm took this usual step because “this is where the opportunity is going to be in the world”

The decision of venture firms to “go East” into China makes sense because of the country’s blossoming economy and its unbridled entrepreneurial culture. In many ways, China today is similar to what happened in the U.S. in the mid to late 1990s. Simply put, there is money to be made in China and elsewhere in Asia.

Over the past few years, I have been advising Chinese graduate students and postdoctoral fellows to eschew job opportunities in America and to go home to China where the action is. I guess I really do know what I am talking about!!!!!!

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!!!!!!

Astra Zeneca To Buy Biotech MedImmune

Reuters reported today that AstraZeneca Plc (AZN.L) has agreed to buy U.S. biotechnology company MedImmune Inc. (Nasdaq:MEDI - news) for more than $15 billion in its biggest transaction since the creation of the Anglo-Swedish drugs group in 1999.

The all-cash deal, announced on Monday, is the boldest move yet by AstraZeneca Chief Executive David Brennan as he seeks to bolster the company's drug portfolio following a series of product setbacks.

MedImmune, one of the larger independent biotech companies in the United States, is best known as the maker of the nasal spray flu vaccine FluMist, but it also has two other marketed products, Synagis for infectious respiratory disease and Ethyol for reducing chemotherapy side effects.

It also has two late-stage products in development -- the next-generation follow-on to blockbuster Synagis and a refrigerated formulation of FluMist. and Synagis for infectious respiratory disease and Ethyol for reducing chemotherapy side effects.



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On the Road Again

I will be conducting career  development seminars at the annual FASEB meeting that is being held in Washington D.C. from April 28-May 2, 2007.  On Friday, April 27, 2007 I will be a participant in a pre-meeting pogrom day long event entitled the "Postdoctoral  Preparation Institute" which is designed to help postdoctoral fellows transition from their current positions to new ones in government, academia and industry.  During my time at FASEB, I will be presenting  job and career development seminars and participating in resume critiquing and writing clinics for conference attendees. So, if you are in town during the meeting, please drop in and say hello!

I hope to you all at the event.

Until next time....

Good Luck and Good Job Hunting!!!!

Amgen Dodges a Bullet-For Now

Amgen announced yesterday that Aranesp®, its longer-acting version of EPO®, did not increase the death rate among patients with small-cell lung cancer. This news, based on preliminary results from the Company’s so-called 145 clinical trial, was SO GOOD that Amgen’s stock price jumped $2.31, or 4 percent, to close at $62.32 on Thursday. I find it troubling that the news that a drug (used to treat cancer patients with non-chemotherapy- induced anemia) does not kill more people than placebo is noteworthy considering the drug is not being used to treat the cancer itself. That said, I guess any news to assuage safety concerns dogging a $12 billion drug franchise is good news to investors (maybe not to cancer patients).

On another note, the New York Times reported today that a study published in JAMA this week showed that profit-making dialysis centers used significantly more EPO-like drugs than non-profit centers did. This is largely because Amgen and J & J and others Continue Reading...

Hiring at FDA?

According to a recent article in Drug Discovery and Development, the US Food and Drug Administration (FDA) is seeking congressional approval of funds to hire an additional 82 employees to review regulatory filings, beef up its safety and surveillance division (a much needed improvement) and to more closely review and monitor direct to consumer (DTC) print and television ads. The funds to support the hiring of these new employees are part of the renewal package of the FDA Prescription Drug User Fee Act (PDUFA), entitled PDUFA IV that is on its way to the US Congress. For those of you who are not familiar with PDUFA, it was enacted in 1992 and is renewed every five years via congressional review. The law permits FDA to collect so-called user fees from pharmaceutical, biotechnology and medical devices companies to hire additional staff to speed up review of regulatory filings and applications for new drugs and biological products. PDFUA also imposes several performance metrics on FDA such as the length of review time for regulatory filings and applications. In other words, it permits companies to complain to FDA when they feel that the agency is taking too much time to review their applications! Continue Reading...

Hiring Freezes and Manufacturing Delays at Amgen

Amgen’s woes continue! Andrew Pollack of The New York Times reported today that Amgen’s CEO, Kevin Shearer, admits that his company has “hit some choppy water” recently but that Amgen “is not in crisis”. As a result of mounting bad press about the safety of its EPO® and Aranesp® products, coupled with several late stage clinical trials failures (most notably the cancer drug Vectibix) and a shallow drug pipeline, Amgen ‘s share price has plummeted 20% since January, knocking almost $20 billion off the company’s value. Moreover, sales of it flagship products EPO® and Neupogen® are slowing and future sales growth of these drugs is uncertain. Amgen has reacted to this mounting uncertainty about future sales by taking cost-control steps, imposing hiring freezes and postponing the opening of a new biomanufacturing facility in Ireland. If sales drop further, Amgen says, more cuts can be made, so look for job cuts in the near future.

Although Amgen is the largest biotechnology company in the world, it has been “making a living” off the sales of EPO® and Neupogen®; products that were introduced to the market in 1989 and 1991 respectively. The company’s most recent products –Aranesp and Neulasta–are modified versions of EPO and Neupogen and its blockbuster anti-rheumatoid arthritis drug Enbrel® was acquired when Amgen bought Immunex in 2002 Continue Reading...

Careers in Regulatory Affairs: A Sure Bet!

Regulatory affairs is one of the hottest and fasting growing career tracks in the pharmaceutical, biotechnology and medical devices industries. The trouble is,there is very little formal training available to prepare individuals for careers in regulatory affairs. Historically, most regulatory affairs professionals honed their skills through on-the-job training. This meant that the only way to pursue a career in regulatory affairs was to first get hired at a pharmaceutical or biotechnology company and then transfer into the regulatory affairs department to learn your craft. Not surprisingly, due to expansive growth of the biotech and medical devices industries, there are ongoing shortages of regulatory affairs professionals, most notably in the area of regulatory writing. In an attempt to deal with these shortages, a number of universities including Georgetown University and SUNY-Stonybrook offer some regulatory affairs training as part of their

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Word on the Street:Medimmune For Sale?

The Motley Fool  on Friday reported that MedImmune may be looking for a possible buyer.  The vaccine maker has a market capitalization of around $10.0 billion making the list of possible buyers extremely short.  That said, if I was working at MedImmune, I would be dusting off the resume and updating it ASAP.  Even if the company is not sold, having an updated resume on the hard drive never hurts!!!!

Until next time.....

Good Luck and Good Job Hunting!!!!!!!!

The Truth About Research Funding

A new report recently issued by America’s top universities says that the nation’s “biomedical enterprise is in a serious crisis”. The crisis purportedly has resulted from shortfalls in funding from the National Institutes of Health (NIH) that only allows 20% of projects submitted for funding to be supported. The report goes on to suggest that “brilliant young scientists are leaving science in frustration, productive researchers are not doing research due to lack of funding and that the U.S. lead in biotechnology is being threatened”. Economics 101 tells us that a lack of available research funds ought to translate into concomitant reductions in the numbers of graduate students and postdoctoral fellows who are being trained at these institutions. This is simply not the case! A quick perusal of departmental rosters at many research institutions indicate that there is an overabundance of both graduate students and postdoctoral fellows at these institutions many of whom cannot find jobs at the end of their training. So what is really going on? Some insight into the situation was offered in an article by John Carey in a recent article in BusinessWeek.com.

Between 1998 and 2003, Congress DOUBLED the NIH budget from $13 billion to a staggering $26 billion ($28 billion in 2006) mostly due to powerful biomedical lobbying efforts (primarily funded by major American research institutions). This new found NIH funding largesse translated into investigator-initiated grant award rates that approached 40%. Meanwhile, NIH also decided to fund thousands of long-term research projects because they had the funds to sustain them! Easy access to grant monies coupled with the ability of universities to capture indirect costs over long periods of time prompted many major American research institutions to build new “state of the art” laboratories and core facilities. New laboratories mean that new scientists have to be hired and substantial sums of money will be required to run and maintain the facilities. Not surprisingly, the growing demand for new scientists and laboratory personnel coincides with the exponential increase in the number of postdoctoral fellows that were hired in the US between 1999 and 2004.
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Bigger Is NOT Always Better

Pfizer, the world’s largest pharmaceutical company, is on the ropes and in serious danger of imploding. After a decade long buying spree, gobbling up pharmaceutical companies that included Warner Lambert (Lipitor®) and Pharmacia (Celebrex®) and a host of smaller biotechnology companies including Agouron (antivirals) and Vicuron (antibiotics), the company has an extremely small drug pipeline. This is not surprising because Pfizer’s business model was to acquire rather than develop its own blockbuster drugs. As always, hindsight is 20/20 but it is patently obvious that Pfizer should have re-invested the billions the company made through sale of its blockbuster drugs (Celebrex®, Viagra®, Zoloft® and Lipitor®) into its own internal R & D programs to remain competitive in the long term.

So, with all of these blockbuster products; why is Pfizer in such deep doo-doo? Unfortunately, all of its blockbusters have either lost or are soon to lose patent protection making these multi-billion drug franchises susceptible to competition by generic drugs. Further, the recent failure of torcetrapib, (Pfizer’s new anti-cholesterol replacement for Lipitor®) in Phase III clinical trials coupled with sluggish sales of its new inhaled insulin product Exubera® due to safety, cost, and convenience issues Continue Reading...

How to Become a Medical Writer

As many of you may know, I sometimes moonlight as a medical writer to put food on the table to feed my family. Several graduate students and postdoctoral fellows have approached me at career fairs and asked “How do I become a medical writer?” Until now, I really did not have a good answer to that question (maybe because I do not know how I became a medical writer?). That said, a colleague of mine, Diego Pineda, has written a book aptly titled “Becoming a Medical Writer” which explains how to become a professional medical writer. He accomplishes this by providing his readers with some technical and operational information about medical writing, and by offering testimonials from medical writers who describe the sometimes circuitous paths that lead them to careers in medical writing.

Thanks, Diego…I am sure graduate students and postdocs everywhere will thank you for not having to listen to me wax romantically about medical writing at my next career fair!

Until next time….

Good Luck and Good Job Hunting!!!!!

Job Opportunities: Rebirth of the Vaccine Industry

The mere mention of the word ‘vaccine” used to cause pharmaceutical executives to shudder and recoil with fear. Aside from Merck, GlaxoSmithKline and Sanofi-Aventis no other pharmaceutical companies wanted to touch vaccines with a “10-foot pole”. This was largely due to liabilities issues surrounding vaccine use and also because vaccines are less financially lucrative than therapeutic products. My, how things have changed in the past five years! All of a sudden vaccines are the hottest “new products” in the biotechnology and pharmaceutical industries. More and more biotech and pharmaceuticals companies are getting into the vaccine business to create vaccines to treat a vast array of diseases including infectious diseases, cancer and even autoimmune diseases. So, what is responsible for this renewed interest in “all things vaccine”?

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