Company news: HGS, biotechs' regulatory distress and oncologists for more detailsHuman Genome Sciences is eliminating 150 positions in manufacturing, R&D and administration due to slow sales of its drug Benlysta. H. Thomas Watkins told investors last week that the company was "pleased" with sales for the first few quarters, which have built gradually, but that Wall Street has failed to understand the drug's trajectory and to price the company's stock accordingly.
Eight in ten biopharma CEOs say the current FDA regulatory approval process has slowed the growth of their organization, according to a PwC survey of biomed CEOs in conjunction with BayBIO and the California Healthcare Institute. Nearly three quarters (74%) said their companies have had to delay a research or development project in the past year, and lack of funding was the top reason for project delays cited, accounting for more than one third (40%) of delays.
While many physicians complain about being besieged by drug industry sales reps, some want more details, according to a survey by Industry Standard Research. The firm polled 118 cardiologists, oncologists, family practitioners and allergy/immunologists and found that the family medicine specialists and oncologists indicated they'd like to see more of the reps – to the tune of, on average, 1.5 additional details per week.