GlaxoSmithKline wins up to $200M federal contract to develop new antibiotics
In the first collaboration of its kind, the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority has brought on GlaxoSmithKline to help the federal agency develop new antibiotics to combat bioterrorism and growing resistance to the drugs.
Is Novartis seriously scouting for new Alzheimer's drug candidates?
According to an analysis by Bloomberg, Novartis is interested in finding a competitive Alzheimer's drug program. But it's hard to determine from the story if the pharma giant--always reluctant to detail partnering efforts or in-house strategies--has anything specific in mind.
Analysts tap the next big thing in biopharma R&D
Just a year or two ago, analysts and investors were in a frenzy over the frantic race to develop a new set of hepatitis C drugs that promised to change the standard of care. Now, as the leaders in that race approach the first round of likely marketing approvals, a new R&D competition has grabbed analysts' feverish attention as the next big thing in biopharma. And the leading players in this field may once again be betting on a mega-blockbuster payoff.
Grifols orchestrates $116M deal to grab PhIII antibiotic
Grifols has agreed to foot up to $65 million of the Phase III bill, with a promise of $25 million in development milestones for a successful outcome. And Grifols is buying up a 35% stake in Aradigm at a cost of $26 million.
Novo nabs anti-infectives outfit in $700M buyout
Turns out there was some truth behind the rumors that 3i was shopping the anti-infectives company Xellia.
Analysts question Teva's blockbuster expectations on drug makeovers
Teva's new CEO, Jeremy Levin, has been touting the company's plan to come up with a pipeline of late-stage drugs that take well-known medicines and give them a makeover for new uses.
Regeneron's chief scientist spotlights potential blockbuster allergy drug
With one likely blockbuster on the market in Eylea and at least three others in development, Regeneron Chief Scientific Officer Dr. George Yancopoulos has plenty to keep him busy for the next several years. Read the full feature >>
Bayer bolsters campaign for PAH drug riociguat with positive long-term data
Bayer has a new set of upbeat results from its long-term extension study of riociguat, a major new player in a busy field of competitors angling for a share of the market for pulmonary arterial hypertension.
Top 10 Biotech CEO Pay Packages of 2012
It's a great time to helm a large biotech company, generally. Big biotech players overall posted major growth last year, and their CEOs got richer in the process. Most got fat raises while others saw their bundles of pay pale in comparison to 2011 figures. We surveyed the total compensation packages of the 10 largest biotech companies based on market capitalization as of early May, sleuthing mostly proxy statements for the financial details on pay for some of the most powerful people in the industry. Check it out >>
Pfizer picks up the pieces after its armed antibody crashes in PhIII
Pfizer says inotuzumab failed a Phase III study for aggressive CD22+ non-Hodgkin's lymphoma. The monitoring committee concluded that inotuzumab in combination with rituximab was not going to deliver the data needed on overall survival.
Karyopharm grabs $48M round for pipeline work
Natick, MA-based Karyopharm Therapeutics has banked $48.2 million in Series B cash. The funds will be used to advance its pipeline of selective inhibitors of nuclear export (SINE) drug candidates for hematologic and solid tumors.
FDA bestows 'Breakthrough Therapy' status to drug for fatal infant disease
The agency has given the coveted status to the Lexington, MA-based biotech company's experimental treatment for use against early onset lysosomal acid lipase deficiency, an inherited disorder that typically kills infants within the first 6 month of life, according to the company.
Pentagon adviser quietly pocketed biotech's cash while promoting its interests
The Los Angeles Times points a bright spotlight on the role former Navy Secretary and biowarfare consultant Richard Danzig played in successfully urging the U.S. government to invest hundreds of millions of dollars in a new therapy developed by Human Genome Sciences to counter a possible anthrax attack.
FDA: Merck's sleep drug suvorexant effective, but safety issues draw heavy flak
FDA staffers found clear evidence to prove that Merck's blockbuster drug candidate suvorexant is quite effective in promoting sleep, but the internal review cites multiple safety issues for the high doses studied in clinical trials.
XenoPort shares skid after MS drug proves to be a lemon in PhIII
Shares of XenoPort skidded lower this morning after the biotech announced its lead experimental drug had decisively failed a late-stage study for spasticity triggered by multiple sclerosis. The troubled biopharma company, which has been struggling to spur sales for the approved drug Horizant for restless leg syndrome, immediately opted to bury the program.
Elan orchestrates $693M biotech buyout, $90M spinout in deal frenzy
In a dealmaking frenzy, cash-rich Elan has agreed to pay up to $693 million for a biotech company focused on rare diseases, picked up a big share of a start-up specialty pharma company based in Dubai, spun out its sole remaining clinical asset into a new company with $90 million in financing and set up an $800 million debt offering to help keep the deals coming.
Effector Therapeutics snags $45M venture round from A-list backers
Effector Therapeutics has rallied marquee investors for a sizable $45 million Series A financing, determined to use discoveries in protein translation to mine for new cancer drugs.
AbbVie, Galapagos extend JAK1 pact into Crohn's disease with $50M carrot
The North Chicago, IL-based drug giant and Belgium's Galapagos have agreed to expand their collaboration on an oral JAK1 inhibitor to include Crohn's disease.
Third Rock Ventures adds biotech veterans to team
Novo Nordisk completes PhIII hemophilia trial with positive results
In a Friday announcement, Novo Nordisk said it completed the first phase III trial of its drug N9-GP for hemophilia B patients.
