Pfizer to absorb Mylan, creating generic giant

Pfizer to absorb Mylan, creating generic giant
Pfizer, the country’s largest drugmaker, will absorb the generic pharmaceutical company Mylan, potentially creating a global generic powerhouse. The two companies said Monday that they’ll combine Mylan, a $10 billion company, with Pfizer’s Upjohn, which sells household names from Viagra to cholesterol fighter Lipitor that have lost patent protection. The deal, expected to close in the middle of next year,... Read More

George Weston Q2 profit up from last year but short of estimates

George Weston Q2 profit up from last year but short of estimates
TORONTO — George Weston Ltd.’s second-quarter profit available to common shareholders jumped to $184 million, up from $28 million last year, but came in below analyst estimates. The Toronto-based retail, bakery and real estate business reported $11.6 billion of sales for the quarter that ended June 15, mostly from its Loblaw grocery and pharmacy division, up 3.2 per cent from... Read More

Loblaw Q2 profit, revenue meet estimates, Shoppers Drug Mart leads revenue growth

Loblaw Q2 profit, revenue meet estimates, Shoppers Drug Mart leads revenue growth
BRAMPTON, Ont. — The Loblaw grocery and pharmacy business says it had $286 million of net earnings from continuing operations during its second quarter, as revenue increased 2.9 per cent from a year earlier. Loblaw Companies Ltd.’s profit of 77 cents per share from continuing operations was down $7 million from $293 million in last year’s second quarter. However, last year’s overall... Read More

Johnson & Johnson 2Q profit jumps 42% despite lower sales

Johnson & Johnson 2Q profit jumps 42% despite lower sales
Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 per cent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune disorder drugs on Tuesday raised its full-year sales forecast,... Read More

Single-payer pharmacare could reduce patient access to drugs, say insurers

Single-payer pharmacare could reduce patient access to drugs, say insurers
TORONTO — The Canadian Life and Health Insurance Association says millions of people could risk losing access to certain drugs under even the most comprehensive government-run pharmacare plan. The industry association’s comments came in response to an expert panel’s recommendation that Canada should have a single-payer national pharmacare plan to cover every Canadian. The advisory council, tasked by the federal government to... Read More

Canadian edibles, topicals market worth $2.7B; ramp up over 3-5 years: Deloitte

Canadian edibles, topicals market worth $2.7B; ramp up over 3-5 years: Deloitte
TORONTO — The Canadian market for next-generation cannabis products is worth an estimated $2.7 billion annually, with edibles contributing more than half, according to a new report from Deloitte. This spending once the final edible pot regulations roll out in the coming months is expected to be on top of the roughly $6-billion estimated domestic market for recreational and medical cannabis, the consultancy said Monday. Consumers are looking... Read More

CBD-Infused Beverages Achieve Quality and Clarity Breakthrough Utilizing Pressure BioSciences’ Ultra Shear Technology Platform

CBD-Infused Beverages Achieve Quality and Clarity Breakthrough Utilizing Pressure BioSciences’ Ultra Shear Technology Platform
New Video Demonstrates Revolution in Soft Drinks, Sports Drinks, and Beer with Vanishing Water-Soluble CBD Oil for Enhanced Quality and Absorption Pressure BioSciences, Inc. , a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the life sciences and other industries, today released a new, short video demonstrating the ability of... Read More

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps
LAVAL, Que. — Bausch Health Companies Inc. raised its guidance after higher sales at its biggest subsidiary mitigated the blow of a US$52-million loss in its first quarter, boosting its share price. The stock closed up $2.88, or 9.16 per cent, at $34.31. Bausch & Lomb, a segment that generates more than half of the drug company’s revenue, saw revenue rise eight... Read More

Pharmaceutical exec guilty of bribing doctors to push opioid

Pharmaceutical exec guilty of bribing doctors to push opioid
BOSTON — A pharmaceutical company founder accused of paying doctors millions in bribes to prescribe a highly addictive fentanyl spray was convicted Thursday in a case that exposed such marketing tactics as using a stripper-turned-sales-rep to give a physician a lap dance. John Kapoor, the 76-year-old former chairman of Insys Therapeutics, was found guilty of racketeering conspiracy after 15 days... Read More

Loblaw Companies raises quarterly dividend, reports Q1 profit down from year ago

Loblaw Companies raises quarterly dividend, reports Q1 profit down from year ago
BRAMPTON, Ont. — Loblaw Companies Ltd. raised its dividend as it reported a first-quarter profit fell compared with a year ago. The grocery and drugstore retailer says it will now pay a quarterly dividend of 31.5 cents per share, up from 29.5 cents per share. The increased payment to shareholders came as Loblaw reported profit attributable to common shareholders of... Read More