Other

EU approves merger of Pfizer off-patent unit and Mylan

The European Commission on Wednesday authorised a merger of US drug giant Pfizer's off-patent business unit with the pharmaceutical company Mylan to create a global powerhouse for lower-cost medicines.

Other

Generic medicines hit Novartis profits

Swiss drugmaker Novartis on Tuesday posted a drop in first half profits amid fierce competition for generic medicines and pricing pressures but said it was set to reach annual targets.

Medications

FDA OKs first generic for Gleevec leukemia pill

U.S. regulators have approved the first generic version of one of the first very effective—and expensive—cancer drugs, Gleevec, which costs about $10,000 a month.

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