British ad agency WPP affected by cyber attack - spokesman
LONDON, June 27 Britain's WPP, the world's biggest advertising agency, said on Tuesday it had been hit by a cyber attack, one of many major corporations to face major disruption.
(Adds Teva launching a generic of Vytorin)
April 26 Merck & Co's cholesterol-reducing drug Vytorin faces competition for the first time ever after two companies announced progress on their generic versions of a drug that generated more than $1 billion in sales last year.
The U.S. Food and Drug Administration on Wednesday approved Impax Laboratories Inc's generic version of Vytorin, while Teva Pharmaceutical Industries Ltd launched its generic version of the drug in the United States.
Impax said it will immediately start commercialization for its generic version of Vytorin.
Vytorin is a combination product that includes the drugs ezetimibe and simvastatin, sold under the brand names Zocor and Zetia. Zocor lost patent protection in 2006 and Zetia, which generated 2016 sales of $2.6 billion, lost patent protection on Tuesday.
In general, revenue from branded products falls by 90 percent once multiple generics hit the market. Vytorin currently costs about $300 for a supply of 30 tablets.
Merck faces generic competition this year not only to Vytorin and Zetia, but also to its antibiotic Cubicin and its Nasonex nasal spray in the United States and for its arthritis drug Remicade in Europe.
The company is betting it will ultimately offset those losses with other drugs, including its cancer drug Keytruda, which is approved for certain patients with non-small cell lung cancer and melanoma and is being tested in a range of other cancers as well.
Merck in February issued a 2017 profit forecast that was in line with Wall Street expectations.
Impax shares gained 2.8 percent to $14.40 in trading after the bell on Wednesday. Teva and Merck shares were little changed. (Reporting by Toni Clarke in Washington and Divya Grover in Bengaluru; Editing by Savio D'Souza)
* Bioanalytical Systems Inc - entered into a credit agreement with first internet bank of indiana - sec filing
BASEL, June 27 Switzerland's Syngenta, the crop protection company acquired by ChemChina, has vowed to bulk up its seeds business and join the chase for assets rival Bayer must sell to gain regulatory approval for its takeover of Monsanto.