Pharma Roundup: Daiichi and Ranbaxy, Generics and Staff Shake-Ups at Novartis, and More

Daiichi buys 20% stake in Ranbaxy -- The Japanese firm has faced regulatory hurdles in its acquisition of the Indian generics manufacturer, but the first phase of the purchase has gone forward. Daiici eventually wants a controlling interest. [Source: The Financial Express, via Corey Nahman]

At Novartis, executives and jobs on the move... -- Novartis announced a large-scale organizational shake-up, with several executives changing positions. Thomas Ebeling, formerly head of the consumer health unit, has left the company. Also on the way out are 550 marketing jobs based in the United States. [Source: PharmaGossip]

... and declining profits for generics -- Novartis, through its Sandoz division, has been making generics for a while, but didn't make money on them in the third quarter. In a conference call, CEO Dan Vasella expressed his disappointment. "Clearly, we are underperforming," he said. Other big companies are embracing a future of generics, but maybe the profits aren't as guaranteed as everyone hopes. [Source: WSJ Health Blog]

Wisconsin doctors ban gifts from pharma companies -- The bylaws of the Wisconsin Medical Society, an organization of 12,000, now state, in full, that "physicians shall accept no gifts from any provider of products that they prescribe to their patients such as personal items, office supplies, food, travel and time costs, or payment for participation in online continuing medical education. A complete ban eases the burdens of compliance, biased decision making, and patient distrust." [Source: Pharmalot]