News

What would an FDA OK on AbbVie's hep C cocktail mean for payers?

When AbbVie spun off from Abbott ($ABT) two years ago, it had one giant plus in its favor: the world's top-selling drug Humira. R&D, though, hasn't been very productive in the past decade...

Lundbeck pulls the plug on its fast-tracked stroke drug

Lundbeck is giving up on its efforts to develop desmoteplase as a treatment for stroke, as disappointing data have made it unclear just how to proceed.

Bellicum pulls off a $140M IPO as CAR-T has its day on Wall Street

Bellicum Pharmaceuticals, at work in oncology's buzziest field, banked $140 million in an upsized, above-its-range IPO, stoking the fervor around cancer immunotherapies.

UPDATED: Merck beefs up its cancer drug pipeline in $375M OncoEthix buyout

Further beefing up its rapidly growing pipeline for new cancer drugs, Merck has stepped in to buy out Switzerland's OncoEthix in a deal worth upward of $375 million. And the Big Pharma player is paying a hefty premium for a BET inhibitor that was in-licensed from Mitsubishi Tanabe just two years ago.

GlaxoSmithKline scores a PhIII success for marathon shingles vaccine study

GlaxoSmithKline got some good news for its big vaccines group, scoring a pivotal Phase III win for its shingles vaccine HZ/su more than four years after the study was launched.

Padlock banks $23M with a fresh approach to autoimmune disease

Startup Padlock Therapeutics has a novel approach to autoimmune disease that could reduce the need for immunosuppressants, and the biotech has $23 million in fresh cash to explore the idea.

Tetraphase spikes on a Phase III success for lead antibiotic

Shares of Tetraphase Pharmaceuticals spiked 15% Wednesday afternoon after the biotech said its lead antibiotic hit its primary endpoint in a head-to-head Phase III study, leaving the company on track to file for an approval before the end of next year.

Biopharma's R&D budgets stay about flat amid global cuts

Thanks to global downsizing, the rapid rise of CROs and mounting pricing pressures, the R&D spends of the world's biggest drug developers remained flat last year, according to a report.

Neovacs blasted after lead therapy flops in PhIIb for rheumatoid arthritis

Paris-based Neovacs got hammered yesterday after the biotech spread the word that its Phase IIb study of an experimental therapeutic vaccine for rheumatoid arthritis flopped.

J&J rents Halozyme's R&D technology for up to $581M

Johnson & Johnson has signed a deal to use Halozyme Therapeutics' drug delivery platform in its own R&D efforts, agreeing to pay as much as $581 million for the privilege.

Playing a hot hand, Juno Therapeutics ups the ante on a $200M-plus IPO

In biotech, you don't raise money when you need it. You raise cash when you can. And right now, Juno Therapeutics is bundling cash in bulk.

Amgen vet reveals stealth startup Flexus backed by $38M from Kleiner Perkins, Celgene

After shunning public attention for more than a year, cancer immunotherapy startup Flexus Biosciences is ready for the limelight now that it is headed toward the clinic, has banked its first two venture rounds totaling $38 million and boasts impressive management, board and advisory rosters.

Pozen gets another FDA cold shoulder for its cardio drugs

The FDA again rejected Pozen's pair of treatments designed to help patients deal with cardiovascular disease, citing the same third-party manufacturing issues that tanked the last application. Pozen claims the supplier has since rectified those concerns but that the agency has been less than cooperative in the process.

Auspex shares rocket up after Huntington's drug hits the mark in Phase III

Auspex Pharmaceuticals' treatment for a movement disorder tied to Huntington's disease met its main goal in a late-stage study, the company said, clearing the way for a 2015 FDA filing.

Google Ventures splashes into life sciences with its $425M purse

Google Ventures is betting more and more on life sciences startups each year, and the well-funded financier tells The Wall Street Journal that's not going to change in the new year.

Does Gilead's oncology hire signal a new R&D push?

The biopharma industry's headlong rush into cancer drug research has created a fierce competition for top talent in the field, as underscored by Gilead's decision to raid the senior ranks of Genentech for an R&D leader who's being charged with the lead role in oncology. Gilead has recruited Philippe Bishop, who once headed the Avastin program, to take the lead as senior vice president of hematology and oncology therapeutics.

J&J punts a pair of new IBD drugs discovered at Galapagos

A few weeks ago Belgium's Galapagos touted some early-stage data on GLPG1205, a new drug for inflammatory bowel diseases which it discovered under a $1 billion-plus partnership deal inked with J&J back in 2007. But today J&J bowed out of the pact for the entire GPR84 program, an effort that includes GLPG1205 and its backup compound GLPG2196.

Cyclacel's cancer drug isn't working in Phase III, but that won't stop the trial

Cyclacel Pharmaceuticals' in-development leukemia drug has little chance of meeting its primary goal in a late-stage study, independent advisers said. But, because the treatment isn't leading to serious side effects, the company is keeping the trial running.

Novartis wins an FDA nod for a long-acting spin on its rare disease drug

The FDA signed off on a once-a-month version of Novartis' Signifor designed to treat acromegaly, a rare growth hormone disorder that can lead to disfigurement and death.

Billionaire Soon-Shiong dives into immuno-oncology with $20M Sorrento venture

Patrick Soon-Shiong, billionaire physician and biotech entrepreneur, wants in on the hottest field in oncology, forming a joint venture with Sorrento Therapeutics to develop therapies that harness the body's immune system to fight cancer.