Johnson & Johnson Fined $572 Million for “Greed” in Fueling the Opioid Crisis
In a lawsuit filed by the state of Oklahoma against Johnson & Johnson, Inc., Purdue Pharma LP and Teva Pharmaceutical Industries Ltd., the pharmaceutical giant Johnson & Johnson and its subsidiaries were ordered on Aug. 26, 2019 to pay $572 million in penalties for helping to fuel the opioid crisis in Oklahoma.1 Before the trial […]
Google Joins the Pharmaceutical Industry
Story Highlights Google, the world’s most widely used internet search engine, restructured itself to give semi-independence to its many subsidiary organizations under a new umbrella entity called Alphabet. Two of the divisions are focused on the business of medicine and operate in partnership with some of the world’s most powerful pharmaceutical companies that develop and […]
MMR Vaccine Sales Boost Merck’s 2019 Revenues
After the Centers for Disease Control and Prevention (CDC) publicized measles outbreaks in several states beginning in January 2019, on May 1 Merck & Co. announced that it had increased production of its live attenuated (weakened) virus MMR (measles, mumps, rubella) vaccine in response to an increasing demand for the product in the United States. […]
Former FDA Commissioner Gottlieb Joins Pfizer
Former Food and Drug Administration (FDA) Commissioner Scott Gottlieb, MD has joined the board of directors of Pfizer, Inc.—the world’s largest pharmaceutical company and second largest manufacturer of vaccines. Pfizer, which posted total revenues of $53.7 billion in 2018, announced Dr. Gottlieb’s election to the board on June 27, 2019.1 2 3 4 Dr. Gottlieb, […]
Blockbuster Vaccine Sales Drive Higher Earnings for Merck
Merck & Co., Inc. reported a strong financial start to 2019, with an eight percent increase in it first-quarter earnings, due partly to vaccine sales. Worldwide sales for the pharmaceutical company in the first quarter reached $10.8 billion, up from approximately $10 billion in the first quarter of 2018. Merck attributed the overall growth to […]
Global Vaccine Market Forecast to Surpass $50 Billion by 2024
The global vaccine market is forecast to reach $50.9 billion by 2024, according to a new study released by Market Study Report of Selbyville, Delaware. This projection would represent an increase of 30.45 percent over today’s vaccines market, estimated at $35.4 billion, or a compound annual growth rate of about 6.2 percent.1 2 The revenue […]
