Shire has laid out an ambitious goal of effectively doubling its revenue in the next few years, bringing in $10 billion by 2020, and CEO Flemming Ornskov said the acquisitive biotech has a bullpen of potential therapies that will help it come through on that promise.
Welcome to the latest edition of our weekly EuroBiotech Report.
Bone Therapeutics and Poxel have started life on European public markets with a bang. Both companies priced within their target ranges, sold out their overallotments and soared in the first few days of trading.
Amgen has high hopes for its new cancer vaccine, barreling toward global approvals with positive data in melanoma. But a narrow miss on one key endpoint could present a major hurdle, and Amgen will soon get a chance to defend the treatment before a panel of FDA advisers.
SINGAPORE--A Japan-based securities firm said it has established the nation's largest fund in the biotech field, seeding it with $83.6 million to support startup biotech companies at home and in Taiwan.
NeuroVive Pharmaceutical has raised $3.3 million (€2.9 million) from Taiwanese investors to finance early aspects of its Asian expansion. The fundraising moves NeuroVive a step closer to realizing its plan to list its subsidiary on the Taiwan stock exchange.
Eisai, on the mend after some big patent losses, believes its top prospect in oncology can bring in peak annual sales north of $1 billion, beginning with thyroid cancer and expanding to treat other tumor types.
Johnson & Johnson has crafted three new research platforms designed to help its teams of investigators focus on a set of key strategic disease initiatives that will help guide their multibillion-dollar drug development program. And J&J--which is adding an institute for microbiome R&D along with a pioneering effort to prevent Type 1 diabetes in the ramp-up--plans to use their central position in the research structure to help coordinate in-house work with their growing cast of development partners around the world.
Sofinnova Partners has followed up the succession of IPOs by its portfolio companies with the sale of its stake in GlycoVaxyn to GlaxoSmithKline. The sale continues a busy two years for the VC shop.
Just as it was spreading word of a big new development partnership this morning, Sanofi dropped the ax on about 100 employees in a reorganization of its R&D operations.
Advaxis has signed a deal to study its in-development immuno-oncology candidate in tandem with a complementary cancer drug from Incyte, the latest combo trial in a field rife with collaboration.
The antibody experts at Regeneron believe their in-development allergy treatment could be the next big thing at the Big Biotech, rolling toward the market with a potential blockbuster.
Alzheimer's, depression, Parkinson's and the rest of the neuroscience targets of interest in biopharma have created a disaster zone for R&D teams in recent years. That's why AstraZeneca, GlaxoSmithKline and others have either pulled way back or completely out of the field. But in their wake, you can now detect a new generation of small biotechs stepping up with promising programs to revolutionize the field.
Sanofi subsidiary Genzyme is tying up with gene therapy upstart Voyager Therapeutics, gambling $100 million upfront on the hot field and promising up to $745 million in milestones for their partnership on a full slate of development programs.
SINGAPORE--MerLion Pharmaceuticals announced Wednesday that the U.S. FDA has approved an otic suspension of finafloxacin to treat acute otitis externa, commonly known as "swimmer's ear."
Whatever GlaxoSmithKline learned about GlycoVaxyn in the two years since they inked a collaboration deal, it must have left the pharma giant feeling confident about the technology. GSK says today that it will scoop up the Swiss biotech, which is working on new vaccines for bacterial infections, for $190 million in cash.
SteadyMed Therapeutics is heading to Nasdaq in search of $55 million (€49 million) to finance its assault on United Therapeutics' slice of the pulmonary arterial hypertension (PAH) market. The goal is to win market share by offering patients a simpler parenteral treatment for PAH.
A 13% jump in the number of compounds in development at AstraZeneca has seen it leapfrog Pfizer ($PFE) to claim fourth place on Citeline's list of the biggest development pipelines. The switch means European Big Pharma companies occupy the top four spots, with GlaxoSmithKline, Novartis and Roche taking the podium positions.
In the wake of a report that found serious errors in what was considered breakthrough work in stem cells, Japan's Riken Institute has fired the lead researcher retroactively and is considering criminal charges.
Merck's not the only big player in the hepatitis C competition to face losing bragging rights to the FDA's "breakthrough" drug designation for a late-stage program. It turns out that Bristol-Myers Squibb, another laggard in the race to hatch new therapies for the virus, also finds its daclatasvir on the FDA's chopping block.