Monday, September 22, 2008

The Pharma industry gets off to a slow start this week

The FT reports that the WHO may remove Sandoz' authorization to sell some of it's antibiotics after discovering manufacturing problems at the plant.

The Economic Times notes that Indian officals may complain to the FDA regarding the ongoing issues with drugs from Ranbaxy being banned, again over manufacturing irregularities. Interestingly, Ranbaxy have hire Rudy Guiliani to advise them on the issue.

Still on the generics front, sanofi-aventis has improved its bid for Zentiva NV to clinch the support of the Czech generic-drug company's board in a deal valued at 1.8 billion euros ($2.6 billion), according to Bloomberg.

Photo of powdered milkImage via WikipediaBloomberg also declared that Taiwan banned all dairy products from China as inspectors found more cases of melamine contamination, a day after Hong Kong's two biggest supermarket chains pulled milk powder from their shelves. The scandal over melamine-tainted milk in China is linked to four infant deaths and hospitalization of 12,892 babies. Hong Kong's two largest supermarket chains, Wellcome and ParkNShop, withdrew Nestle SA's milk products after traces of the chemical were found.

Nestle yesterday said the amount was minute and wasn't considered harmful. However, the head of China's quality watchdog is reported to have resigned over the tainted baby milk scandal that has killed four children and nearly 53,000 others have now declared to be poorly.

Meanwhile, just as people thought the round of job losses and cuts in the industry had stabilised, Schering Plough announced 1,000 job losses on Friday in a bid to reduce costs, according to CNBC. Much of the downsizing will be felt in the field as they let go up to 20% of their US sales force.

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Nestle, Schering-Plough

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