Healthcare & Pharmaceuticals
GlaxoSmithKline boss Sir Andrew Witty's pay package more than doubled to Â£6.7m last year - but the drugs group reckons he remains underpaid and has awarded him a new deal which could generate up to Â£10.4m this year.
Few industries campaigned harder than pharmaceutical manufacturers to elect Republicans to the new Congress, and few industries are better positioned to reap the rewards of the election returns, analysts said Thursday.
Last week, after its findings revealed that the combination of hormones taken by some 6 million women was doing more harm than good, causing an increase in heart attacks, breast cancer, blood clots, and strokes, a national study was halted mid-stream. Wyeth, which has raked in more than $2 billion a year from its top-selling hormone therapies is now watching its stock price dive.
Drugmaker Merck & Co.'s research facility in West Point dumped a chemical compound that included cyanide into the sewer system, killing more than 1,000 fish in Wissahickon Creek, federal authorities said Thursday.
Multinational industries like tobacco and alcohol have responded to increased global public pressure for accountability around corporate operations by creating Voluntary Codes of Conduct to self-regulate their behavior. But how are the results measuring up?
Over one million people in the Canadian province of Quebec will receive a total of C$15.6 billion ($12.5 billion) in damages for smoking related diseases from three of the biggest tobacco companies in the country. The settlement is the result of a 17 year long court battle.
Why don't drug companies invest enough money in treating malaria and tuberculosis? A recent study published in the Lancet magazine estimates that 1,238,000 people died from malaria in 2010. Surely a wonder drug that stops these diseases would be wildly profitable?
On the opening day of the RNC, ACT UP members dropped a giant 30 by 75 foot banner from a highly visible location. The activists demand that George W. Bush take a stand against high drug prices that result in the deaths of millions of people with HIV in Africa and worldwide.
The World Health Organization (WHO) has barred a life sciences industry association from participating in setting global standards protecting food and water supplies because its members have a financial stake in the outcome.
Two years ago, when companies received a big tax break to bring home their offshore profits, the president and Congress justified it as a one-time tax amnesty that would create American jobs. Drug makers were the biggest beneficiaries of the amnesty program, repatriating about $100 billion in foreign profits and paying only minimal taxes. But the companies did not create many jobs in return. Instead, since 2005 the American drug industry has laid off tens of thousands of workers in thi