Life Science Companies Face A Taxing Problem
Podcast: December 4, 2009

The global financial crisis and healthcare reform efforts around the world will likely drive up the effective tax rate for the pharmaceutical and life sciences companies, according to a new report from PricewaterhouseCoopers. At the same time countries looking to attract research and development and manufacturing to bolster their economies are offering tax incentives to lure pharmaceutical companies. We spoke to Michael Swanick, partner and global pharmaceutical and life sciences tax leader for PricewaterhouseCoopers about the changing tax environment for pharmaceutical companies, potential areas of new tax obligations, and the growing complexity of managing these issues. Read More Here

Ready to Pounce
Teva seeking U.S. approval for copycat of Amgen's Neupogen.
Generic drug giant Teva Pharmaceutical says it has applied to the U.S. Food and Drug Administration for approval to market its own version of Amgen's wide-selling Neupogen, which is used to help combat neutropenia. Dubbed XM02, Teva's therapeutic is already sold in the European Union as TevaGrastim and has been shown to reduce the duration of severe neutropenia, in which a patients' bone marrow fails to make enough white blood cells when treated with a certain type of chemotherapy. Read More Here

Pfizer Takes Aim at Genzyme
Drug Giant taps Protalix for Gaucher's Disease treatment produced in genetically altered carrot cells.
Pfizer said it entered into an agreement with Protalix to license the Israeli company's experimental drug to treat Gaucher's Disease, a rare, inherited disorder that can prevent the proper functioning of the spleen, liver, lungs, bones and sometimes one’s brain. The experimental enzyme replacement represents a competitive threat to Genzyme’s Cerezyme, which has been the primary treatment since that drug’s approval in 1994. Read More Here

Novartis' Bolsters Cancer Pipeline
Swiss drugmaker enters into $1.1 billion deal with Incyte for two cancer compounds.
Novartis is strengthening its oncology pipeline through a licensing deal for two compounds with Incyte potentially worth $1.1 billion. Under the terms of the agreement, Novartis is paying Incyte $150 million upfront for rights outside of the United States to commercialize Incyte's treatment for myelofibrosis, a serious bone marrow disorder that disrupts the body's normal production of blood cells. That’s on top of the $60 million Novartis will pay for the initiation of a European late-stage trial for the drug, which began in July. Read More Here

Opening Europe's IPO Window
Movetis raises $128 million in successful IPO on Euronext Brussels ending drought of VC-backed IPOs.
Movetis raised its targeted $128 million (85 million EUROs) in a successful initial public offering on the Euronext Brussels exchange. The financing was the first significant IPO in the European life sciences sector since early 2008 and the largest IPO in the Life Sciences sector on Euronext Brussels. The debut of Movetis brings an end to a two year drought of IPOs by venture backed companies in Europe. The last VC-backed European IPO was Belgian biotech Ablynx, which listed in November 2007. Read More Here

Consumer Group Wants FDA to Pull Abbott Weight-Loss Drug from Market
The weekly round-up of failed trials, missed targets and other business mishaps.
The consumer group Public Citizen, in a petition to the U.S. Food and Drug Administration, said new research shows that Abbott’s popular weight-loss drug Meridia should be pulled from the market because of risks. The group says the drug has caused a significantly increased number of heart attacks, strokes, resuscitated cardiac arrests or deaths in obese patients getting the drug. Read More Here

Controlling the Means of Production
Scientists find a hormonal on-and-off switch for male fertility that could lead to a birth control pill for men.
Researchers at the Centre for Reproductive Biology in Edinburgh, United Kingdom say that by manipulating testicular hormone levels it may be possible to turn male fertility on and off, a finding that could lead to the development of a male birth control pill and treatment for infertility. The study, published in the FASEB Journal,shows how and where androgenic hormones work in the testis to control normal sperm production and male fertility. Read More Here

A Mental Illness Gene
Researchers identify a possible genetic cause for schizophrenia, depression, and other disorders.
Researchers have found a gene that is partially inactive in patients with severe mental illnesses such as schizophrenia, bipolar disorder and depression. The scientists say that identifying the genes that predispose people to psychiatric illness is seen as the most important step in developing new ways to tackle the conditions. Read More Here

Taking a Best Shot
Availability of a vaccine is no guarantee the public will want it.
The Field of Dreams philosophy of if you build it they will come may not hold for vaccines, according to researchers at the University of Toronto who say just because a vaccine is available doesn’t mean people will choose to get inoculated. The research, which looked at acceptability of potential future HIV vaccinations among high-risk adults in Los Angeles, shows many factors come into play when a person is deciding whether or not be vaccinated. Read More Here

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