Want a raise, pharma reps? Get into biotech sales instead
We regularly dig into compensation for top executives, but figures on the biopharma rank and file are harder to come by. So, if you've been waiting for those numbers, here's a taste: MedReps.com has run the numbers on sales people in the medical field.
Boehringer grabs option on Karolinska cardiovascular therapy
Boehringer Ingelheim has stepped in to pick up an option on a preclinical cardiovascular program under development at Stockholm-based Athera Biotechnologies, which is part of Karolinska Development's biotech portfolio.
NIH backs pharma giants and academics' projects to revive R&D castoffs
The NIH has advanced an ongoing effort to give castoffs from drug pipelines a new lease on development, committing $12.7 million to fund 9 collaborations between academic and pharma groups to find new treatments in areas of unmet need such as Alzheimer's disease, Duchenne muscular dystrophy and schizophrenia.
Sarepta shares spike on upbeat results from DMD extension study
Shares of Sarepta were boosted this morning after the biotech announced that it reaped another round of promising results from a closely-watched Phase IIb study of its experimental treatment for Duchenne muscular dystrophy.
Analysis: AMA decision on obesity will boost drug R&D in a troubled field
The AMA's decision to classify obesity as a disease is a direct attempt to persuade biopharma companies to develop new therapies by making it harder for payers to decline coverage while applying pressure on the FDA to approve more drugs faster. And that could provide a serious incentive for the obesity therapies already in development while making the preclinical work in the field more attractive to Big Pharma companies--which have largely avoided the field after witnessing repeated marketing debacles for unsafe meds. Read more >>
Another drug study flops at AstraZeneca as CEO braces for bumpy turnaround
In an interview with Reuters yesterday, CEO Pascal Soriot warned that turning around AstraZeneca is going to require a lengthy rebuilding effort.
UPDATED: Bluebird IPO busts out, raises $101M as biotech offerings turn red hot
Biotech IPOs are officially back in vogue. Bluebird bio--set up to develop new gene therapies for orphan diseases--priced its IPO at $17 a share, actually above its range. The biotech raised $101 million after bumping up the number of shares it had on offer.
Booming Alexion breaks ground on $140M global HQ
Now that Alexion has established its reputation for marketing new drugs for ultra-rare diseases with the success of Soliris, the most expensive drug on the planet, the fast-growing biotech has broken ground on an 11-story facility in downtown New Haven destined to become its new headquarters.
Adamas claims success with new and improved Parkinson’s drug
Investigators say that the lead drug--ADS-5102, reformulated in a way designed to reduce the severity of side effects that plague patients--demonstrated a statistically significant improvement in levodopa-induced dyskinesia when compared with a placebo after 8 weeks of therapy.
R&D cutbacks loom at Millennium's Cambridge ops
The new president at Millennium Pharmaceuticals has been trying to maintain a careful balancing act in recent weeks, trying to reassure staffers about Takeda's commitment to the oncology subsidiary while making it clear that cuts are coming.
Teva Pharma breaks M&A silence with bite-sized MicroDose buyout
Known previously for rapid growth via acquisitions, Teva Pharmaceutical had recently been quiet on the buyout front--until Monday. The Israel-based pharma company said it has snapped up drug-delivery specialist MicroDose Therapeutx for $40 million in upfront cash and up to $125 in contingent payments.
Analysis: Big Pharma R&D demonstrates a woeful lack of innovation
Bernard Munos, one of the sharpest critics of the drug development industry, takes Big Pharma to task once again on the innovation front after reviewing just what's been approved over the past 12 years.
Buzz on rare disease drugs puts ViroPharma in the M&A spotlight
ViroPharma's pipeline of drugs for rare diseases has reportedly stirred the interest of several pharma companies. And once word of the buyout buzz spread, the Exton, PA-based biotech's shares zoomed up 9% yesterday afternoon.
Royalty's $8B offer wilts after Elan prevails in blocking bid
Royalty Pharma signed the death certificate on its $8 billion bid for biotech Elan, withdrawing its appeal of a decision from an Irish panel that blocked its ability to alter the terms of its latest hostile takeover attempt.
AstraZeneca picks Cambridge site as ground zero for R&D reinvention
Over the next three years the pharma company plans to build a $500 million complex on its new campus that will house its U.K. operations for biologics and small molecule research as well as the corporate staff now operating in London.
Onconova files $75M IPO as new offerings sizzle
The biotech filed an S-1 late last week looking to raise $75 million for its cancer drug pipeline. And it's looking for some positive attention as a slate of four biotechs prepares to go public later this week.
Eli Lilly wraps $247M deal for PhII diabetes drug
Eli Lilly is stepping in to take control of an experimental diabetes drug from Canada's Transition Therapeutics, paying $7 million upfront and promising up to $240 million in milestones. The drug--TT-401--is headed into Phase II. Transition will pay Lilly $14 million in installments to complete the Phase II trial.
Amicus explores new deals after FDA forces a delay on Fabry drug app
Shares of Amicus Therapeutics plunged this morning after the biotech alerted investors that the FDA had blocked a possible route to a near-term approval for its experimental Fabry disease drug Amigal, forcing it to wait for a fresh batch of Phase III data that could pave the way to a new application in late 2014.
J&J snags another promising prostate cancer drug in $1B Aragon buyout
The deal gives J&J complete control over a combo approach with blockbuster potential that could help further improve the rapidly changing standard of care in prostate cancer.
Investors snub Elan deals, but buyback win could scuttle hostile offer
Elan's shareholders rejected a string of CEO Kelly Martin's deals today, but did green-light a share repurchase pact--which the biotech says will put the hex on Royalty Pharma's hostile $8 billion offer for the company. The hostile bid, though, was already being reconsidered at the end of last week, when Elan's board decided to formally put the company on the auction block, inviting Royalty to take a seat at the bidding table.
