News

Bristol-Myers changes guidelines on CEO pay

Prodded by one of its board members, Bristol-Myers Squibb has changed its guidelines for determining its CEO's pay. From now on, compensation will have to be approved by three quarters of the company's independent directors, rather than a simple majority. The move came at the behest of Harvard Law School's Lucian Bebchuk, who detailed online how the company had originally resisted the …

Bidding war heats up for Merck KGaA generic unit

Ranbaxy and Cipla have confirmed bidding for the generic drug unit of Merck KGaA. No figures were given, but analysts expect that the business could fetch up to $6.58 billion. Dr. Reddy's, meanwhile, has pulled out of the bidding, saying that it expects the price to go too high. Teva, …

Jury rules against Merck in second NJ Vioxx trial

Merck has been handed a setback in a key Vioxx lawsuit. A New Jersey jury awarded $47.5 million for a plaintiff. It was the second time for the case to go to a jury. Merck won the first case, but an appeals court threw out the verdict after deciding that Merck had excluded new evidence that had later come to light. The jury decided that Merck had committed consumer fraud and had …

SPOTLIGHT: Spectrum outlines trial design


Spectrum Pharmaceuticals has reached agreement with the FDA on two late-stage studies of its bladder cancer drug EOquin. The primary goal will be a statistically significant difference in the rate of tumor reoccurrence. Release

ALSO NOTED: Cell Therapeutics seeks SPA for lymphoma trial; Panacos agrees to try dose-escalation in HIV trial;and much more...

> Cell Therapeutics is working on a Special Protocol Assessment with the FDA for a late-stage trial of its therapy for non-Hodgkin's lymphoma. Report

> Panacos has agreed with the FDA on a dose-escalation approach in its next study of bevirimat for HIV. Report

> Cellzome announced that it has received the first …

Press Release: Oxxon Therapeutics to be Acquired by Oxford BioMedica for GBP 16 Million

Press Release: Oxxon Therapeutics to be Acquired by Oxford BioMedica for GBP 16 Million

Press Release: Takeda Pharmaceutical to Acquire Paradigm Therapeutics Limited

Press Release: Takeda Pharmaceutical to Acquire Paradigm Therapeutics Limited

Press Release: Biogen Idec and PDL BioPharma Say Primary Endpoint Met in Phase 2 Trial of Daclizumab

Press Release: Biogen Idec and PDL BioPharma Say Primary Endpoint Met in Phase 2 Trial of Daclizumab

Press Release: Schering-Plough Corporation to Buy Akzo Nobel's Organon for $14.5 Billion

Press Release: Schering-Plough Corporation to Buy Akzo Nobel's Organon for $14.5 Billion

Editor's Corner

It's somewhat ironic that we're posting one story bemoaning the lack of investor enthusiasm for biotech in the U.K. even as three other top stories outline a fresh round of buyouts. The lead piece on the acquisition of Organon for a cool $14.4 …

Schering-Plough pays $14.4B for Organon

Akzo Nobel has canceled plans to take its drug unit Organon public and snatched up a 37 percent premium for the operation in a deal to sell the company to Schering-Plough for $14.4 billion. The deal

Oxford BioMedica to acquire Oxxon Therapeutics

Oxxon Therapeutics is being acquired by Oxford BioMedica, which has been developing gene-based therapeutic vaccines for cancer and neurotherapy. The deal gives the U.K.'s Oxford BioMedica control of Hi-8 MEL, a cancer immunotherapy product that Oxford executives say is complementary to its own late-stage product, TroVax.

"The market opportunity for an effective melanoma vaccine is substantial and this is a cancer type where our immunotherapy, TroVax, cannot be developed because, …

Takeda inks deal to buy Paradigm Therapeutics

Japan's Takeda Pharmaceutical is buying the U.K.'s Paradigm Therapeutics, a small development partner which has been helping Takeda identify drug targets with genetically altered animals. No terms were disclosed. Paradigm has already been working with Takeda on identifying experimental therapies for central nervous system diseases. Paradigm has a pipeline of targets for pain, central nervous system disorders, prostate and breast cancer, diabetes and obesity. Paradigm will be renamed …

Investor says biotech is languishing in the UK

A leading biotech investor in the U.K. says that the London market just doesn't "get it" about drug developers. And the disconnect has led to the smallest number of biotech start-ups in years. Only 37 biotech companies started up last year in the U.K., the smallest number since 1999. Sir Chris Evans, who founded Merlin Biosciences, told The Independent that U.S. biotechs, meanwhile, are making swift strides in a much more entrepreneurial environment.

"U.S. biotech teams …

An FDA approval for Tykerb may be in the offing

A host of analysts are predicting that GlaxoSmithKline will win FDA approval for its breast cancer drug Tykerb this week. One analyst pegged its potential at $1.16 billion a year by 2012. Tykerb has a clear advantage over the blockbuster Herceptin because it is administered in pill form while Herceptin is injected. And data supports that Tykerb in combination with Xeloda is more effective that a treatment consisting only of Xeloda.

If the approval does come through, it will be a …

SPOTLIGHT: Daclizumab delivers positive data


A mid-stage trial for the humanized monoclonal antibody daclizumab--which is being developed by Biogen Idec and PDL--hit its primary endpoint for multiple sclerosis. Patients saw a significant reduction in new or enlarged gadolinium-contrast-enhancing lesions at week 24. Release

CORRECTED-- ALSO NOTED: AtheroGenics shares slide with trial worries; Amgen warned; Protherics wins milestone; and much more...

> Correction: An item in the Monday issue of FierceBiotech mistakenly states that AtheroGenics' experimental heart drug, AGI-1067, failed a primary endpoint in a trial. That trial data has not been released. The company's stock price has declined based on some investors' concerns that it may not hit its endpoint. Results are expected later this month. Report

> More bad news for Amgen, which saw its stock price dip two percent after the FDA issued a warning on Friday for Epogen and Aranesp, its two blockbuster anemia drugs. Report

Press Release: Gilead Sciences Announces New Appointments within Executive Team

Press Release: Gilead Sciences Announces New Appointments within Executive Team

Press Release: MDS Profit Hurt by Restructuring, FDA Review

Press Release: MDS Profit Hurt by Restructuring, FDA Review