News

Allergan blueprints a big Texas expansion amid battle with spendthrift Valeant

Allergan has signed a lease for big chunk of office space in Texas, according to the Austin Business Journal, keeping quiet on its plans as it slashes jobs around the globe.

Biotech backer LSP banks $100M to fund a new generation of startups

European venture outfit LSP (Life Sciences Partners) has raised $100 million toward a new biotech fund, setting out to stake a dozen or so innovators in drugs, devices and diagnostics.

Sanofi sets up a major R&D hub in booming Shanghai

French pharma giant Sanofi has unveiled plans to bring together the drug development work being done in a dozen different Pacific Rim countries, creating a major new R&D center in Shanghai that will employ 1,400 staffers.

Portola's 'breakthrough' anti-anticoagulant clears a Phase III hurdle

Portola Pharmaceuticals' antidote to Big Pharma's latest crop of blockbuster blood thinners hit the mark in its first Phase III trial, clearing the way for an FDA submission next year.

FibroGen lines up a $125M IPO to shoulder its way into the IPF race

Flush with cash from its high-profile collaborators, FibroGen is plotting a $120 million IPO to help bankroll a stable of unpartnered drugs, including a promising lung treatment with huge market potential.

Flagging Novartis drops out of hep C race, punting a $440M Enanta pact

According to the biotech Enanta, you can count Novartis out of the race to develop next-gen hepatitis C cocktails. The pharma giant has bowed out of its partnership with Enanta on an NS5A inhibitor code-named EDP-239, which attracted a $440 million deal--including $36 million upfront--back in 2012.

AstraZeneca partner Ardelyx scores a trial success for GI drug

Fresh off an IPO, Ardelyx reports that its lead drug tenapanor (RDX5791) scored a success in a large Phase IIb trial for irritable bowel syndrome. And that counts as a win for AstraZeneca, which signed a $272 million partnership deal on the drug back in 2012--part of a deal frenzy aimed at repairing a damaged pipeline.

GlaxoSmithKline deepens its commitment to 'electroceuticals'

GlaxoSmithKline is expanding its efforts to encourage research into bioelectronic medicine, putting up $5 million to support R&D projects around the world.

J&J makes a splash in hep C with a $1.75B deal for Alios

Johnson & Johnson is taking a deep dive into antivirals, trading $1.75 billion for private biotech Alios BioPharma to get its hands on a midstage treatment and some early assets that could expand its share of the blockbuster hepatitis C market.

Regeneron's would-be blockbuster completes the allergic circle with Phase II success

Regeneron and partner Sanofi have notched another midstage milestone with their in-development allergy drug, a victory that affirms the hypothesis behind a treatment the companies believe could bring in billions.

Takeda steps up with $1.6B package of milestones in MacroGenics R&D pact

Four months after it signed an option pact that included $33 million in an upfront and early milestone, along with $468 million in add-on incentives, Takeda has agreed to pay the freight on researching up to four more MacroGenics programs while adding up to $400 million each--$1.6 billion in total--in fresh milestones.

UPDATED: Baxter inks a big lease in the heart of Cambridge for biopharma R&D headquarters

Chicago-based Baxter International has inked a 200,000-square-foot lease in the heart of Cambridge, MA's biotech hub which will become the new research center of its soon-to-be-spun-out biopharma division, Baxalta.

Catalyst soars as its controversial rare disease drug aces Phase III

Catalyst Pharmaceutical Partners is heralding positive late-stage results for its lead drug, planning to make its case to the FDA in hopes of winning approval for a much-scrutinized orphan treatment.

Of mice and M&A: Horizon buys Sage Labs

The U.K.'s Horizon Discovery has snapped up St. Louis-based Sage Labs for $48 million in cash and stock.

Just how big is the biosimilars business going to be in 5 years?

Thomson Reuters BioWorld took a deep dive into the subject and surfaced today with a detailed report outlining a bustling new global business with roughly 700 so-called follow-ons put in the clinic by 245 companies and institutions. Looking ahead to 2020, analysts say, you can anticipate that biosimilars will account for about $25 billion out of $100 billion in sales for off-patent biologics.

Bristol-Myers' oncology star lines up for lung cancer approval, leading the PD-1 pack

Among the scrum of drugmakers racing forward with a new class of cancer treatments, Bristol-Myers Squibb was the first to win a global regulatory nod and is now first in line for approval in lung cancer, a particularly lucrative indication for the group of promising oncology drugs.

Tonix shares battered as lead fibromyalgia drug flops in PhIIb

Shares of Tonix Pharmaceuticals were hammered early Monday after the biotech put out word that its lead drug had failed a Phase IIb study for fibromyalgia.

Alimera and pSivida finally win FDA approval for thrice-rejected drug

After a series of painful rejections, partners Alimera Sciences and pSivida have finally convinced the FDA to approve the eye drug Iluvien, sending each company's shares roaring on some renewed optimism for the long-delayed treatment.

ESMO: Bristol-Myers, Roche, AstraZeneca, GSK, Merck jostle for spotlight

Over the weekend oncology investigators from all around the world gathered in Madrid at the European Society for Medical Oncology (ESMO) 2014 Congress to review the latest advances--and setbacks--in the fast-moving field of cancer drug research. As usual, the big companies dominated the discussions, as rival oncology groups touted new data as they tried to position competing therapies in the global scramble to develop new and better cancer drugs, now one of the hottest fields in R&D.

Daiichi Sankyo bags leukemia drug in $410M Ambit buyout

About 18 months after Astellas dumped its development partnership with Ambit Biosciences on a now late-stage drug for acute myeloid leukemia, Daiichi Sankyo has stepped in to snap up the San Diego-based biotech for up to $410 million. The deal helps beef up the Japanese company's oncology pipeline.