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Reuters reported today that Sanofi Aventis has reached an agreement in principle to purchase Genzyme for $19 billion in cash and future payments based on the performance of Lemtrada, Genzyme’s experimental treatment for multiple sclerosis.                     

The $19 billion dollar deal translates into $74 per share in cash plus a contingent value right for Lemada that Genzyme investors will receive. Interestingly, the $74 per share stock price is the original amount that Genzyme’s board asked for when the saga to purchase the company began last August. Go figure.....

The deal is the second biggest in biotech history (second to Roche’s acquisition of Genentech) two years ago. I don’t know about you but I am glad that the deal is almost done and we don’t have to hear about it anymore. That said, I hope that Sanofi gets what it paid for! And, if I were a Genzyme employee (especially Henry Termeer, Genzyme's embattled CEO) I would dust off the old resume or CV as quickly as possible. 

Until next time...

Good Luck and Good Job Hunting!!!!!

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IMS Health, a market intelligence company that tracks US drug prescriptions, reported that the US sale of prescription drugs grew 5.1% in 2009 to $300.3 billion.

IMS identified the following key trends among the major therapeutic areas:

• Antipsychotics remained the top-selling class of medications in the U.S., with 2009 prescription sales of $14.6 billion, equal to the 2008 level.
• Lipid regulators continued as the largest therapy class in the U.S. by dispensed prescription volume, growing at a 5 percent pace to 212 million prescriptions dispensed in 2009. Sales of lipid regulators declined 10 percent last year to $13.1 billion, reflecting an ongoing shift toward lower-cost generic alternatives. Lipid regulators ranked #3 in overall sales in 2009.
• Proton pump inhibitors replaced lipid regulators as the second-largest therapeutic class in sales last year. Proton pump inhibitors sales totaled $13.6 billion, a 2 percent decline year over year, while dispensed prescription volume for this therapeutic class rose 5 percent.
• Antidepressants became the fourth-largest class in 2009, up from its #5 ranking the prior year, with U.S. prescription sales growth of 3 percent to $9.9 billion.
• Sales of antineoplastic monoclonal antibodies, a leading oncology class that includes Avastin^®, Rituxan^® and Herceptin^®, grew at a 9 percent pace in 2009 and ranked #6 in therapeutic class sales.

IMS also reported that use of generic products, including branded generics, continued to rise last year and now represent 75 percent of all dispensed prescriptions in the U.S., up from 57 percent in 2004. The total number of generic prescriptions dispensed increased 5.9 percent in 2009, while the number of branded prescriptions dispensed declined 7.6 percent.

While the US pharmaceutical and biotechnology industries continue to cry poverty, it appears that sale of prescriptions drugs continues to grow at a pretty good rate. Look for increased growth until 2014 when healthcare reform begins to kick in.

Until next time…

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

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Pfizer's board of directors voted on Sunday evening  to acquire Wyeth for $65 billion.  While this may help to assuage some of Pfizer's short term financial problems, like the loss of  Lipitor in 2011,the deal will not help the combined company in the long run. 

The deal will undoubtedly lead to massive layoffs at both Pfizer and Wyeth--a time when our economy cannot afford much more job loss.  Further, it will diminish competition, reduce the need for more scientists and ultimately diminish America's standing in the life sciences. 

If I were a Pfizer or Wyeth employee the first thing that I would do on Monday morning would be: update my resume, contact as many  recruiters as I can and find a new job before the layoffs begin. I think the era of severance packages is over!

Until next time... 

Good Luck and Good Job Hunting!!!

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