AstraZeneca signed a pair of agreements centered on its most prized cancer therapy, selling a stake to the hematology experts at Celgene and buying the rights to a complementary treatment from Innate Pharma.
A little more than a month after completing its big asset swap with GlaxoSmithKline, Novartis CEO Joe Jimenez says he's going back to the bargaining table to look for some bolt-on buyouts in the $2 billion to $5 billion range. Read more >>
Welcome to the latest edition of our weekly EuroBiotech Report. Johnson & Johnson added another outpost to the growing network of incubators to which it is affiliated. The latest site to receive the backing of J&J is run by BioCity, which is trying to turn a campus abandoned by Merck into a hotbed of Scottish life science startups. Across the North Sea, Norway's Nordic Nanovector and its Finnish neighbor Biotie Therapies spent the week talking IPOs. Read more >>
Keryx Biopharmaceuticals appointed Dr. John Neylan to the newly created position of chief medical officer; he'll be responsible for oversight of medical affairs, clinical development and pharmacovigilance. Read more >>
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Riding high on some promising Phase I data, Biogen has mapped out a big late-stage program for its Alzheimer's disease treatment, making a risky bet that it can reverse decades of failure in the field.
Two months ago Aerie Pharmaceuticals CEO Vicente Anido was boasting to Reuters that his late-stage therapy for glaucoma, Rhopressa, was on track to an approval with a clear shot at earning $1 billion a year. On Thursday evening, he was forced to mount a defense of the drug after conceding defeat in a key Phase III study and watching shares plunge 66% in a rout.
Sanofi is again trimming its oncology pipeline, walking away from an armed-antibody cancer treatment licensed from ImmunoGen as it reshapes its approach to the field.
While many Big Pharma companies continued to whittle away at their multibillion-dollar R&D operations over the past year, laying off thousands of researchers, a group of midcap biotechs is helping to pick up the slack, according to a new report from GlobalData. And some big spenders like Regeneron and Alnylam led the way, helping drive up the group's total research spending by $2 billion, or 26%, to $9.7 billion.
Seattle Genetics is looking to recruit roughly 100 new workers throughout its operations, the company said, accelerating its pipeline of armed antibody candidates.
Amgen and its partner AstraZeneca are winding up to deliver U.S. and European applications for their big blockbuster hopeful brodalumab for plaque psoriasis by midyear. But their last shot to push ahead with the drug in asthma ran into defeat, with Amgen announcing Tuesday afternoon that it pulled the plug on a Phase IIb following a futility assessment.
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Just a couple hours after Mylan sweetened its original bid for Ireland's Perrigo to $31 billion-plus, Perrigo nixed the new offer. Why? The way the target sees it, it isn't quite so sweet.
Veracyte is selling $40 million of its common stock in a private placement to generate some cash for R&D, adding fuel to its engine as it inks new deals and looks to expand its portfolio.