Healthcare Business Review: Express Script Suit DISMISSED, Covidien WINS FDA Okay
Chief Operations Officer Pascal Soriot of Roche Holding Ltd. (RHHBY.OB) has been chosen by AstraZeneca Group plc (NYSE:AZN) to be its new chief executive, to replace David Brennan, who stepped down on June 1st. The interim AstraZeneca Chief Executive Simon Lowth will resume his position as chief financial officer. Soriot has held his position at Roche’s pharmaceuticals unit since 2010, and before that he served as chief executive of Genentech and conducted its merger with Roche.
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The $29 billion purchase by Express Script Inc. (NASDAQ:ESRX) of Medco does not violate antitrust statues, said a judge on Monday, as the suit brought by pharmacy groups was thrown out. However, the judge rules that the plaintiffs can replead, and also that their claims in regards to clinical specialty drugs may move forward.
Covidien plc (NYSE:COV) wins FDA approval for its iDrive Ultra powered stapling system, which is employed during surgery. The firm now expects to commence domestic sales in the fourth quarter. The okay comes nearly a week following Covidien’s recall of Duet, which is its product for reinforcing tissues after stapling.
Abbott Laboratories (NYSE:ABT) wins the European Commission’s mark for the second generation of its Architect assay, which evaluates testosterone levels and has improved sensitivity.
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