Lilly chief executive John Lechleiter appointed as PhRMA chairman
BOSTON — The Pharmaceutical Research and Manufacturers of America announced Friday the appointment of Eli Lilly chairman, president and CEO John Lechleiter as PhRMA chairman at its annual meeting. The group also elected Celgene president and CEO Robert Hugin as chairman-elect of its board of directors and Pfizer president and CEO Ian Read as board treasurer. Lechleiter replaces Sanofi CEO Christopher Viehbacher as chairman.
"Chris has been indispensable to PhRMA on many fronts, providing invaluable leadership as the industry navigates the evolving policy and regulatory landscapes essential to continued innovation while always putting patients first," PhRMA president and CEO John Castellani said. "As Dr. Lechleiter assumes the chairman role, we can all feel comfort knowing that the patient-centered approaches we utilize in all our advocacy efforts will continue to be central to our mission of advancing innovation in the [United States] and worldwide."
Drug makers invested $49.5 billion in R&D in 2011, report finds
WASHINGTON — Drug companies invested nearly $50 billion in research and development in 2011, according to a new report by a drug industry trade group.
The Pharmaceutical Research and Manufacturers of America said in its latest report that with $49.5 billion of investment, the biopharmaceutical sector accounted for the single largest share of all U.S. business research and development, and related expenditures among PhRMA member companies represented 21.1% of domestic sales.
"Despite facing market, scientific and regulatory challenges, the U.S. biopharmaceutical sector, led by our member companies, has remained a major contributor to American innovation," PhRMA president and CEO John Castellani said. "Our member companies’ investment represents a boost to America’s economy, with 78% of those dollars invested on our shores."
PhRMA said the Food and Drug Administration approved 35 new drugs last year, one of the highest annual totals in the last decade, including two personalized medicines for cancer, 11 for rare diseases and the first new lupus drug since 1955. Personalized medicine represents a major area of investment, with 94% of companies in a recent survey by the Tufts University Center for the Study of Drug Development responding that they currently are investing in the field.
Mylan launches fluvastatin capsules
PITTSBURGH — The Food and Drug Administration has approved a generic drug for lipid disorders made by Mylan, the company said Friday.
Mylan announced the approval and launch of fluvastatin capsules in the 20-mg and 40-mg strengths, a generic version of Novartis’ Lescol. The drug is used to treat hypercholesterolemia and mixed dyslipidemia, as well as prevention of cardiovascular disease.
The drug had sales of $27.9 million in 2011, according to IMS Health.