Whatever lies ahead for biotech in 2016, we can now look back on a 3-year-long stretch of good times for the industry. Venture groups have used the wave of biotech IPO exits and M&A deals to go back and raise more money from institutional investors. And as billions of dollars in fresh capital has converged with brilliant new scientific thinking, the result is a whole new wave of standout innovators as represented here by the Fierce 15. Read the full report >>
Martin Shkreli's controversial Turing Pharmaceuticals made global headlines this week after the startup chose to jack up the price of a decades-old drug to boost revenue, and the company's unapologetic CEO took on all critics in media traditional and new. Here's a timeline of how it all went down. Read more >>
Welcome to the latest edition of our weekly EuroBiotech Report. Having been rejected by AbbVie ($ABBV) on Friday, Galapagos ($GLPG) hit the gas on its partnering strategy this week. Several potential partners are already giving the data the once-over, potentially putting Galapagos in a position to meet its goal of having a new deal in place by the end of the year. Galapagos' compatriot Apitope had a less tumultuous week. The Merck Serono-partnered biotech raised €12 million ($13 million), giving it the financial clout to advance treatments for Factor VIII intolerance and Graves' disease into the clinic. Therachon also tapped investors for cash, parting OrbiMed and others from $35 million to finance the progress of its dwarfism treatment to clinical proof of concept. Verona Pharma (LSE:VRP) has a trip to the funding font on the horizon, too. Having posted positive data from a trial of its chronic obstructive pulmonary disease drug, the British biotech is gearing up for a Phase IIb study. Verona will need to source additional cash to complete the trial. Oasmia Pharmaceutical (STO:OASM) is nearing a fundraising event of its own. The Swedish biotech is set to test how receptive Nasdaq investors are to IPOs. And more. Read more >>
Bayer has a new U.S. pharmaceuticals leader in Habib Dable, who has been with the company since joining in 1994 as a sales representative. Previously, Dable was the global head of specialty medicine for Bayer HealthCare Pharmaceuticals, a role he held since 2013, managing the therapeutic areas of hematology, oncology, ophthalmology and neurology. In his new position, he'll report to Philip Blake, who moves to the role of head of the Americas for Bayer HealthCare Pharmaceuticals. Read more >>
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A month removed from launching the U.S.'s first biosimilar, Novartis is again setting sights on an Amgen cash cow, lining up for FDA approval with a copy of the blockbuster Enbrel.
Amicus Therapeutics, a biotech comeback story, is walking back plans to submit its rare disease treatment for FDA approval this year, rethinking its whole regulatory strategy after follow-up conversations with the agency.
Sanofi cautiously waded deeper into RNAi development waters this week, following up on last year's big $700 million buy-in at Alnylam. The pharma giant's Boston subsidiary, Genzyme Sanofi, has picked up some regional rights to the hemophilia treatment ALN-AT3, setting up a complicated set of next steps as Sanofi juggles just what it will opt into and where it wants to leap into commercialization.
XenoPort has changed its tune on an investigational psoriasis therapy, no longer insisting that the drug's middling efficacy and alarming safety profile merit late-stage development. Instead, the biotech is dumping the drug, cutting payroll and waving away its co-founder and CEO.
Regeneron is handing off the Asian rights to its in-development musculoskeletal pain treatment for up to $325 million, handing the antibody over to a subsidiary of Japanese giant Mitsubishi.
Aduro Biotech, months removed from a $119 million IPO, is looking to settle down in Berkeley, leasing a four-story R&D complex as it presses forward with a pipeline of cancer treatments.
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Chalk up another approval for Merck & Co.'s Keytruda. And it's a significant one, as it fights for market share against Bristol-Myers Squibb's Opdivo in the PD-1/PD-L1 field. The FDA Friday gave an accelerated approval for Keytruda for use on advanced non-small cell lung cancer (NSCLC). Opdivo is awaiting an accelerated approval.
GlaxoSmithKline is pinning its hopes on consumer health, a unit whose margins it expects to see at 20% by 2020. But just how does it expect to get there?