Celgene's $1 billion front-loaded deal to buy into Juno's CAR-T and TCR programs--$150 million upfront and $850 million for 10% of the company's stock at more than double the going share price--instantly and predictably spurred a backlash among some of the top analysts in the industry over the frothy figures in play.
Not long ago, Viehbacher had a chance to sit down with Ernesto Bertarelli--who made a fortune on the sale of Serono--to pursue a conversation that many people fantasize about but very, very few experience. The subject: "If I had $2 billion to invest, this is how you do it."
For some time after the FDA put its new breakthrough therapy designation together for the industry, there was a good deal of back and forth among industry analysts over whether the BTD would make much of a difference. You don't hear much of that kind of carping much these days, and a new report from EP Vantage illustrates why.
The Biotech 3.0 vision is what we'll be exploring at my upcoming executive breakfast during BIO's annual conference in Philadelphia.
Every year the oncology world flocks to the annual scientific meeting of ASCO in Chicago to hear about the latest advances, and setbacks, from just about every company that is trying to make an impression in the cancer field. And we saw a number of big winners and losers over the weekend.
It's time for another FierceBiotech survey! And this time, we've partnered with Bloomberg Intelligence to expand our reach into the global ranks of biopharma execs and analysts.
Some of the leaders in the field will be gathering for a special FierceBiotech panel discussion on clinical trial design and execution for cancer drugs at the upcoming annual meeting of BIO in Philadelphia on June 16.
Whenever a prominent analyst like Tim Anderson at Bernstein pens a review of a struggling Big Pharma company that asks the question if all hope is lost, you know it will be a painful read for any remaining true believers. GlaxoSmithKline and its embattled CEO Andrew Witty came in for that treatment a few days ago. And even if Anderson's answer was a qualified no, you can hear the clock ticking as the market waits for some kind of sign that there's a coherent plan taking shape to move forward decisively.
The Wall Street Journal has caught up with the Genervon controversy, recapping a series of events from the last few days that followed the big social media campaign to gain an instant approval for a new ALS drug based on the results of a 12-patient study. FierceBiotech readers will know already that the data were questioned by Steve Perrin, president and chief scientific officer of the ALS Therapy Development Institute, and that the FDA followed up a day later with an extraordinary challenge to Genervon to publish the data on a drug that the biotech has touted as a major advance for patients.
Genervon CEO Winston Ko has repeatedly prodded a desperate ALS patient population and their families to demand that the FDA provide an accelerated approval to allow sales of its controversial drug based on the data from 8 patients in one tiny study.