News

AstraZeneca grabs a surprise early approval for its $2B cancer contender

Despite loud objections from its advisers, the FDA granted an accelerated approval to AstraZeneca's ovarian cancer treatment, clearing an oral therapy the U.K. drugmaker believes will bring in blockbuster sales.

ImmunoGen plummets as its Roche-partnered cancer drug comes up short

ImmunoGen watched its shares fall by 50% when partner Roche revealed disappointing results for the pair's targeted cancer drug, casting doubts on the biotech's technology for creating armed antibodies.

Scientist Andy Plump steps in at Takeda as president

Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Michael Gibney (email | Twitter)...

Gilead buys into Ono's cancer drug as it scales up in oncology

Gilead Sciences is pushing further into oncology R&D, teaming up with Ono Pharmaceutical on a cancer treatment that could complement its first major success in the field.

Lilly makes amends with Adocia in $570M diabetes deal

Eli Lilly is buying back into Adocia's pitch for a fast-acting insulin, reversing an earlier decision and signing a collaboration deal worth up to $570 million.

Eli Lilly rekindles Adocia partnership, Cell Therapy Catapult spends $85M on manufacturing center

Welcome to the latest edition of our weekly EuroBiotech Report.

UPDATED: Juno banks $265M in an IPO, pushing the next big thing in oncology

Seattle's Juno Therapeutics managed to top the already superlative expectations for its Wall Street debut, grossing about $264.6 million and pulling off the Nasdaq's biggest 2014 biotech IPO in the waning days of a huge year.

Roche scuttles PhIII Alzheimer's study in yet another setback for the field

Yet another big Phase III test of an experimental Alzheimer's drug has flopped. And this time it's Roche's turn to admit defeat.

Roche boosts its antibody arsenal with a $489M buyout

Roche is betting big on antibodies that can attack two targets at once, signing on to buy Austria's Dutalys for as much as $488.8 million and get its hands on some proprietary technology.

Sanofi's Plump tapped to head Takeda R&D from Cambridge base

The new president at Takeda has raided Sanofi for its new head of global R&D. And they're putting their new top scientist in Cambridge, MA, which is becoming the world headquarters of drug research for much of the pharma industry.

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

When AbbVie spun off from Abbott 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 in terms of new drug approvals.

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.