Citing a need to increase efficiencies, Bayer AG will lay off 227 employees at its manufacturing facility in Berkeley, Calif., according to the San Francisco Business Times.
Pharmacy
Patients and health systems in Mexico and Canada may be forced to wait years longer for lower-cost, generic versions of brand-name medications as a result of the proposed North American trade agreement, according to The Wall Street Journal.
Reversing a policy introduced five years ago after a marketing scandal, GlaxoSmithKline will resume payments to physicians who help promote its drugs next year, according to Bloomberg.
As part of a restructuring and cost reduction effort, Cambridge, Mass.-based Momenta Pharmaceuticals will slash its workforce in half and gut most of its leadership team, according to The Boston Globe.
Pfizer CEO and Chairman Ian Read will step down from his roles Jan. 1 after eight years on the job, the company confirmed Oct. 1.
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After two failed merger attempts, Rite Aid will overhaul its board of directors and separate the CEO and chairman roles, according to CNBC.
Merck CEO Kenneth Frazier will remain at the helm of the pharmaceutical company after its board of directors rescinded a policy that required the chief executive to retire at the age of 65, according to The Wall Street Journal.
Under a new policy expected from Congress within days, drugmakers and medical device manufacturers would have to disclose payments and gifts made to nurse practitioners and physician assistants, according to a STAT news report.
In a global restructuring effort, Swiss drug giant Novartis will cut more than 2,000 jobs, according to The Wall Street Journal.
Gilead Sciences will offer a cheaper version of its blockbuster hepatitis C drugs, Epclusa and Harvoni, which sparked controversy when they were initially introduced at a price of more than $1,000 per pill, according to Bloomberg.