Business briefs: Takeda, Google, Lundbeck, Elan, Teva
Takeda has signed on with Veeva's CRM iRep program. The iPad-based system will be rolled out to 1,800 sales reps and 200 managers this year. “Our sales representatives need a tightly integrated system that supports team collaboration,” Takeda's VP of field sales, Glenn Weiglein, said in a statement.
Google's a la carte AdWords approach is coming to an end. The company announced Wednesday that the AdWords model was no longer going to have device-specific campaigns, but will now provide one all-inclusive channel clients can buy. Called an “enhanced campaign,” the new approach is being rolled out in stages, and will affect all clients by the end of 2013. Google's explanatory blog post indicates that the new system offers simplicity and complexity at the same time—for example, it noted that building an AdWords campaign under the new system will “show ads across devices with the right ad text, site link, app or extension without having to edit each campaign for every possible combination of devices.” The company also said the new approach will help marketers measure conversion because the service “enables you to easily count calls and app downloads.” The enhanced campaign is a hedge of sorts: The Wall Street Journal said industry ad executives told the paper it helps increase “revenues amid concerns that historically low mobile ad prices will hurt its bottom line.”
Denmark-based pharma Lundbeck reported a 28% decline in earnings for Q4 today in their 2012 full year report. Generic competition continued to lean heavily on Lexapro, which saw revenues sink 98%. The company cited strong prospects for 2013 due to its pipeline, with next-gen antidepressant Brintellix, a once-a-month version of Abilify and alcohol-dependency treatment Selincro all set to launch in 2013. Lundbeck saw revenue from new products increase 71% for 2012, compared with 8% last year. New products account for 14% of total revenue—mostly coming from Xenazine, Sabril, Sycrest/Saphris, Lexapro (Japan), Onfi and Treanda.
Elan Corporation announced they are selling their interest in MS blockbluster Tysabri to partner Biogen Idec in their 2012 earnings report today. The deal gives Elan increased cash flow (more than $3.25 billion) and flexibility, but analysts remain skeptical amidst uncertainly on how they plan to spend those funds. Elan noted 13% top line revenue growth for 2012 and a few other bright spots: Alzheimer's hopeful ELND005 moved into Phase II trials, and the company reported strengthening of their balance sheet via debt refinancing and a sell-off of Alkermes shares.Teva Pharmaceuticals announced Q4 profit down 37%, with total revenue down 7.5% for 2012. CEO Jeremy Levin cited a loss of focus and a bloated cost structure. He vowed to cut the fat by decreasing operating costs by $2 billion over the next five years. The drugmaker also announced plans to sell off an injectable drug plant in Irvine, CA. Teva's generic drug revenue saw a decline of 11%, with the largest drop in sales seen in the US.