Healthcare Business Update: Pfizer Pays to End Suit, Amarin’s FDA Decision Put Off
Pfizer (NYSE:PFE) will shell out $164 million to resolve a securities class-action suit linked to its Celebrex painkiller. Investors had claimed that Pfizer misled them concerning Celebrex’s potential.
Pharmacyclics (NASDAQ:PCYC) has reached a deal with the Danish insulin producer Novo Nordisk (NYSE:NVO) that allows it rights to certain uses of its Factor VIIa molecule inhibitor. The former should receive $5 million up front, and as much as $55 million in milestone payments, along with royalties on sales of Novo products that employ the drug.
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Amarin Corporation (NASDAQ:AMRN) does not anticipate an FDA decision in October as to whether it will grant its request for five-year marketing exclusivity of its Vascepa heart pill, which the agency already approved in July. Amarin has no idea whether the FDA will grant its request or when to expect a decision.
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