Rivals Sarepta Therapeutics and BioMarin Pharmaceutical are in line to become the next recipients of an FDA coupon for a fast review, each potentially picking up a sellable asset that recently brought in $350 million on the open market.
An in-development pain treatment from Vernalis missed its main goal in a proof-concept study, leading the U.K. drugmaker to back away from a drug it once believed could bring in more than $500 million a year.
Novartis is paying GlaxoSmithKline as much as $1 billion for the rights to a mid-stage multiple sclerosis treatment, betting it can develop an heir to the blockbuster Gilenya, soon to lose patent protection.
Baxalta is hoping to launch 20 new drugs by 2020, and the nearly 2-month-old company is taking a decentralized approach to R&D on the way there, relying on partners to handle early-stage work before finishing projects itself.
Welcome to the latest edition of our weekly EuroBiotech Report. Oncology has long been a strong suit for Norway. With a 60-year old cancer registry, the legacy of breakout biotech success Algeta and a clutch of immuno-oncology upstarts to its name, the country has the credentials to make an impact on R&D.
Aisling Capital is raising a new fund, looking to gather up to $500 million for a new wave of life science investments, according to a report in Fortune.
FiercePharma's Carly Helfand and FierceBiotech's Damian Garde discuss the controversial FDA approval of the first libido drug for women, what Allergan should buy next, and Retrophin's lawsuit against former CEO Martin Shkreli.
Looking to join the biotech gold rush on Wall Street, Samsung is reportedly lining up a shot at a $1 billion raise for its growing biosimilars development group, a joint venture set up with Biogen as a junior partner in the deal.
Picking apart biopharma's protracted boom, analysts tend to focus on investors' ongoing appetite for risk, readily available early-stage funding and the vibe that getting drugs approved is simply much easier than it once was. Forbes, with the help of BioMedTracker, has run the numbers on that last point, finding that the FDA has been green-lighting new drugs at an escalating rate for the past few years.
Telesta Therapeutics has rounded up $28.6 million to help it see if it can push an experimental bladder cancer drug through to an FDA approval. Consonance Capital Investors, Boxer Capital of Tavistock Life Sciences and Omega Funds all joined in the round for the publicly-traded Telesta. Some of the senior execs and board members also chipped in.
A little more than a day after little Sprout Pharmaceuticals won a controversial FDA approval to market Addyi (flibanserin) as a new drug that can help inspire sexual desire among women, Valeant Pharmaceuticals announced a deal to acquire the one-drug company in a $1 billion buyout.
Norway has opened the doors at its NOK 1 billion ($120 million) bet on cancer R&D. The investment has enabled the creation of Oslo Cancer Cluster Innovation Park, a site housing hospitals, Big Pharma and an incubator for the next generation of Norwegian oncology startups.
The United Kingdom's Medical Research Council (MRC) is bracing itself for a big hit to its budget. For years, MRC has benefited from income relating to its discovery of monoclonal antibodies (mAbs) in the 1970s, but the upcoming wave of patent expirations is set to disrupt this cash cow.
Lundbeck has initiated a rejig of its pipeline, taking an ax to undisclosed early-stage assets in order to funnel cash into what it sees as its most promising candidates. The schizophrenia drug Lu AF35700 is among the beneficiaries of the reshuffle, with Lundbeck using its reorganized balance sheet to advance the therapy through development unpartnered.
GlaxoSmithKline is laying off nearly 1,000 employees in North Carolina in an effort to trim its R&D costs, cutting deep into the biotech ecosystem in Research Triangle Park. But a handful of ex-GSK researchers have swiftly moved on, starting up a biotech to develop peptide therapies of their own.
Six months after Celsus Therapeutics' stock price collapsed on the mid-stage failure of its lead therapy, Geneva-based Volution Immuno Pharmaceuticals has stepped in with a reverse merger deal, lining up $75 million in fresh financing from some A-list investors and flipping the company into the public market with a new name and ticker symbol on Nasdaq.
Intarcia Therapeutics' matchstick-sized device for diabetes beat out Merck's blockbuster drug Januvia in a Phase III trial, burnishing its case for FDA approval next year.