Company news: Bayer, EMABayer landed the FDA's first approval of a new IUD in more than a decade. The new contraceptive, known as Skyla, will be available February 11. The IUD can stay in place for up to three years and is for women regardless of whether or not they have been pregnant. Bayer said it is 99% effective in preventing pregnancies. The company also makes the IUD Mirena, which was approved in 2001.
European Medicines Agency is looking to add an additional $24 million dollars to its budget and will do so by raising fees, reported InPharma. The additional revenue is meant to keep pace with the anticipated 4% spending increase it has budgeted for 2013. The EMA is also raising revenue by reducing its financial Orphan Drug support and will reduce the fee reduction for non-pediatric drugs from 75% to 40%.