Bio Job Blog : Bio Jobs : Biotechnology Jobs : Biopharmaceutical Jobs : Bioscience, Biotech Jobs : Bio Job Blog : Biocareer : Bio-Business Training, Biotechnology Training : Jobs in Biology : Internships in Biology : Internships in Biotechnology

Takeda Pharmaceutical Company, Japan’s largest pharmaceutical company, yesterday announced its intention to purchase the Swiss drug maker Nycomed for 8 to 10 billion euros ($11.4-14 billion). While the deal is not certain to close, it signals Takeda’s intention to purchase its way into the US and European markets.

Takeda acquired Cambridge, MA-based Millennium Pharmaceuticals in 2008 for $8.8 billion, the largest foreign acquisition ever by a Japanese company. The Millennium acquisition was intended to bolster Takeda’s competencies in genomics and oncology drug discovery. If Takeda is successful in its bid, Nycomed would enhance the company’s standing in treatments for gastric, respiratory and inflammatory disorders. Nycomed has operations in roughly 70 countries, with Europe representing 50 percent of the company’s sale and emerging markets 38 percent.

Takeda’s chief executive officer Yasuchika Hasegawa has pursued an aggressive M&A strategy since assuming control of the company in 2003. Historically, Japanese drugmakers intentionally remained small and were content doing business in local and other Asian markets. However, Hasegawa has changed the “game” and has forced some of Takeda’s rivals to emulate his global strategy. To that end, in recent years Daiichi Sankyo Company has purchased Plexxikon and Ranbaxy and Astellas acquired OSI pharmaceuticals as part of a westward expansion.

While Takeda remains Japan’s largest pharmaceutical company, net profit slumped 17 percent last year and the company is losing patent protection for its largest selling drugs, Prevacid (ulcers) and Actos (diabetes). Like Takeda, Nycomed sales are being hit by the loss of patent protection for its largest selling drug Protonix (antacid). Worldwide sales of the drug plummeted by almost 28 percent. Therefore, it would appear that Takeda’s pursuit of Nycomed is based more on its pipeline rather than currently marketed products.

Stay tuned for late-breaking news on the deal!

Until next time,

Good Luck and Good Job Hunting!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

According to a post on the Wall Street Journal Health blog, Wyeth announced today that it is laying off about 1,200 marketing and sales representatives who helped support Protonix, its blockbuster heartburn and acid reflux medication. The job cuts are part of a previously announced “asset reallocation plan” that is designed to reduce the size of the company’s workforce by about 5% this year, and by 10% over the next three years.

The company employees about 50,000 people worldwide with roughly half of them in the U.S.  Like some of its competitors, Wyeth is facing stiff generic competition for several products that are slated to lose patent protection over the next couple of years and recently has had trouble getting many of its new drugs approved by the US Food and Drug Administration.

Until next time….

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

• Email This
• Print
• Comments (1)
• Trackbacks
• Share Link

Wyeth announced yesterday that it is introducing a generic version of its blockbuster heartburn medication Protonix. The company is embroiled in nasty patent litigation with Israel-based Teva, one of the world’s largest generic drug manufacturers. The lawsuit, filed by Wyeth, claims that TEVA violated a violation of Protonix's patent which is set to expire in 2010. Teva introduced a generic version of the drug in December, which caused Protonix's sales to plummet, but then agreed to temporarily halt selling its rival product, known as pantoprazole, as the two companies engaged in settlement talks.

Protonix, one of Wyeth's top sellers, posted $1.45 billion of sales in the first nine months of 2007. Wyeth yesterday said its generic version would be distributed by Prasco Laboratories, a closely held Cincinnati company. A Teva spokeswoman declined to comment on what Wyeth's generic version means for settlement talks or whether Teva will resume sales of its own generic.

A steep drop in Protonix sales, which would be expected in the face of generic competition, would deliver yet another blow to Wyeth, which has tried and failed to win approval for some of its new medications including Pristiq for menopause symptoms and bazedoxifene for osteoporosis. Wyeth’s unprecedented move of a introducing a generic version of Protonix before patent expiry indicates how reliant the company is on sales of its blockbuster product.

If a court finds that Teva violated the Wyeth patent, Teva may have to pay triple damages awarded to the patent holder.

Until next time…

Good Luck and Good Job Hunting (try Israel)!!!!!!!!!!!!

• Email This
• Print
• Comments
• Trackbacks (1)
• Share Link

Well, it had to happen sooner or later.  Wyeth said on Friday it is considering cost cuts that could eliminate 10 percent of its work force over a three-year period.

Wyeth, whose earnings prospects have been hurt by delays last year in approvals of new medicines and the recent launch of a generic form of its blockbuster Protonix ulcer medicine, currently has 50,000 employees worldwide.

A company spokesperson said "It is premature to even begin to discuss which positions will be affected or how (job cuts) will be achieved. We are evaluating our business and trying to find ways to be more efficient, and part of that is to keep costs under control". He noted that details of the initiative will be presented to employees toward the end of March.

Stay tuned for more details!!!!!!

Until next time….

Good Luck and Good Job Hunting (avoid Collegeville, PA)!!!!!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

The company could face fines if it launches the generic version and ultimately loses the patent lawsuit. The Protonix patent is due to expire in 2010. Protonix sales average around $2.0 billion per year. Introduction of a generic version of the drug could result in a 50% loss in sales for Wyeth.
Wyeth stock price fell sharply after the decision was announced. Wyeth stock has been hammered hard in the past three weeks, which is likely to result in layoffs and job cuts in the near future.

Until next time….
Good Luck and Good Job Hunting!!!!!!!!!!!!

• Email This
• Print
• Comments (1)
• Trackbacks
• Share Link