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As expected, Sens. Chuck Grassley (R-Iowa) and Christopher Dodd (D-Conn.) have
introduced legislation that would create an electronic clinical trials registry
to which drugmakers must submit the results of their drug studies or face monetary
penalties.
Fewer generic drug approvals combined with increased competition from authorized
generics and foreign drugmakers will limit growth in the U.S. generics industry
in 2005, a Wall Street analyst predicted at a recent industry event.
Nearly two-thirds of Americans
want the government to do more to regulate prescription drug prices, according
to a new healthcare poll that finds most adults still have a low opinion of
the drug industry.
The FDA has issued a warning letter to New Jersey-based drugmaker Mayne Pharma
for failing to submit and investigate numerous adverse drug experience (ADE)
reports between 2002 and 2004.
GlycoGenesys, a biotechnology company developing carbohydrate-based drugs, has
announced that it has entered into definitive agreements to close on gross proceeds
of $6,500,000 from institutions in exchange for issuance of 6,500 shares of
convertible, redeemable Series D Preferred Stock, currently convertible into
6,500,000 shares of common stock, and warrants to purchase 6,500,000 shares
of common stock currently at $1.23.