Late on Monday evening Exelixis put out the word that its crucial late-stage study of cabozantinib flunked a comparison study with prednisone for castration-resistant prostate cancer, triggering a restructuring that will eliminate 70% of the jobs at the biotech.
The development team from Sanofi and Regeneron journeyed to the ESC Congress in Barcelona this weekend to detail the impact their late-stage PCSK9 drug alirocumab has on bad cholesterol, drawing some high-profile attention for a batch of preliminary numbers suggesting a trend toward lower cardiovascular risks.
Novartis told the world back in March that its experimental heart drug LCZ696 had delivered the goods early in a pivotal study, allowing for a quick wrap of the Phase III trial. And today the pharma giant painted in the numbers, completing the late-stage picture for a closely watched therapy that has the potential to rival the most successful drug franchises now on the market.
Disappointing sales of ThromboGenics' only marketed product, Jetrea, have taken their toll on the company's profits this year. To get back in the black, the Belgian company now says it's spinning out its cancer R&D activities to focus on the struggling eye drug.
Some well-known biopharma execs on the West Coast, including Impax Labs founder and former CEO Larry Hsu, have teamed up on a low budget, late-stage program for an oral anticoagulant.
The story about a potential new takeover offer for AstraZeneca by Pfizer will not die.
In one of the most improbable rivalries in the drug development world, tiny Dutch biotech Dezima today laid claim to a successful Phase IIb study of its CETP cholesterol drug TA-8995, putting it on track to a 2015 launch for a Phase III showdown with two giants in the field, Eli Lilly and Merck.
Newly minted biopharma billionaire Liu Dianbo has added to his fortune while burnishing his rep as one of the top biotech drug developers in China. His company, Luye Pharma Group, acquired a 58% stake in Beijing Jialin Pharma Pharmaceutical for close to $600 million, beefing up its pipeline of cardiovascular drugs while expanding its product lineup.
For months now rumors of a big prospective biotech relocation have been circulating in the hot Boston hub. And now the Boston Business Journal, a weekly with its ear to the ground on all things related to real estate, reports that its sources are saying that the company in question is Baxter International.
India's Piramal is getting out of early-stage drug development. The company says it wants to move up the clinical ladder, focusing on later-stage development work on molecules.
Repros Therapeutics got a boost from its announcement that its late-stage testosterone treatment beat out the topical Androgel in helping patients with low testosterone, or hypogonadism.
In this week's EuroBiotech Report, with AstraZeneca now back in play--if it chooses--talk of M&A involving European drugmakers has ratcheted up once again after a brief, post-Shire lull. And more.
Shares of OncoMed Pharmaceuticals took a nasty tumble a couple of months ago when it hit the brakes on a pair of early-stage programs for two of its treatments after investigators noted trouble with some bone-related adverse events. Today, the biotech says it adjusted its protocols on vantictumab, a Wnt pathway inhibitor program, to the satisfaction of the FDA, which lifted its partial hold on the program.
Amgen has taken another big step in its head-to-head race with Sanofi and Regeneron, filing its application for the prospective cholesterol blockbuster evolocumab and backing it up with more positive data from the latest in a long string of major clinical studies.
The crossover round is alive and well. Just a few days after Dermira put out the word that a consortium of backers had come up with a $51 million C round, the company rolled out a $75 million IPO. And the news, along with a fresh, $86 million filing from Rhythm Pharmaceuticals, helps set the stage for a new round of fall biotech IPOs that will once again test investors' appetite for risk.
Initially, GSK officials had sounded distinctly skeptical about whether the vaccine could be ready in time to help contain the outbreak. But this morning there was a distinct can-do attitude in its approach to the crisis.
Ted Tenthoff, an analyst for Piper Jaffray, was clearly pumped about the prospects of an Achillion buyout when a reporter from Bloomberg reached him.
Biotech investing is sizzling right now, and despite all the attention that the Boston hub gets, the Bay Area is still number one.