Amgen, long criticized over its appetite for moonshot R&D projects, scaled back its research budget by more than 10% in the second quarter, part of a companywide effort to cut costs while advancing a make-or-break pipeline.
Amgen shocked the industry in May when it cut ties with an AstraZeneca-partnered psoriasis treatment after spotting alarming rates of suicidal thoughts among patients taking the antibody. But its former collaborator is remaining optimistic about the once-promising treatment, tentatively moving toward an FDA filing.
When GlaxoSmithKline reported last December that it was ripping into its R&D operations in Research Triangle Park, NC, and laying off 900 staffers, the pharma giant softened the blow by noting that some 450 of the workers would be transferring to Parexel, a major CRO with close ties to Glaxo. But today many of those jobs appear to be in danger after all.
FibroGen's in-development treatment for anemia is still in the midst of Phase III development, but thanks to a legal loophole, the pill has made its way into the world of competitive cycling, where its red blood cell-boosting effects can give athletes an advantage.
Highpoint, NC-based vTv raised $117 million after selling 7.8 million shares at $15 a share--the low end of the range. The company had hoped to raise more than $150 million from the IPO. vTv is taking a failed Alzheimer's drug and heading straight into Phase III--and its strategy is raising a few eyebrows.
GlaxoSmithKline CEO Andrew Witty had some upbeat Q2 revenue numbers to report, but a renewed effort to spur some enthusiasm for its drug pipeline fell flat with analysts.
Synergy Pharmaceuticals handed over a fresh set of Phase III data from its second pivotal study of plecanatide, confirming the first round of positive efficacy results for chronic constipation and delivering a slightly improved safety profile that should help as the biotech makes a run at a drug approval and market launch.
FierceBiotech Radio on Allergan's 'transformational' moves, Sanofi's new bet on Regeneron, and the (latest) biggest-ever biotech IPO
FiercePharma's Carly Helfand and FierceBiotech's Damian Garde discuss the week's biggest news in biopharma, including a surprise one-eighty from Allergan, an unsurprising deal involving Sanofi and Regeneron, and the latest biotech IPO stirring fears that there's a bubble soon to burst.
In this week's EuroBiotech Report, data from market analyst Biocom shows that biotechs traded in Europe raised €3 billion ($3.3 billion) in the first half of the year, more than they gathered in all of 2014. AC Immune and Erytech could contribute to the back half of 2015 being an equally busy period. And more.
AstraZeneca and GlaxoSmithKline have secured direct connections to researchers at the University of Cambridge and its associated academic institutions. The arrangement is part of a "matchmaking" scheme, in which drugmakers will provide academics with funding for collaborative research and access to their experimental therapies.
Ariad Pharmaceuticals has inked a deal with PDL BioPharma, trading a long-term royalty on its only marketed drug in exchange for money to develop another.
Last night Gilead execs basked in the glow of market-bending sales numbers, backed by the continuing megasuccess of its two hep C drugs, Harvoni and Sovaldi, which racked up close to $5 billion in revenue for the second quarter. So naturally analysts want to know how they plan to spend the cash.
Venture investor Foresite Capital closed a $450 million new fund, its largest ever, and is setting out to find the next generation of promising drug developers.
Sanofi's combination of a Type 2 diabetes treatment and a long-acting insulin met its main goal in a Phase III trial, the company said, setting up an FDA application later this year.
Boehringer Ingelheim has agreed to hand over as much as $730 million to South Korean drugmaker Hanmi Pharmaceutical in exchange for the rights to a midstage treatment for lung cancer, betting the drug can stand out in a crowded field.
Every Big Pharma company has its own way of dealing with experimental meds that no longer fit in their pipelines. For Novartis, the latest deal involved handing off three therapies to Mereo, a London-based upstart that is being launched with $119 million in financing from a pair of big British biotech investors and a development deal in place with the CRO Icon.
Erytech is poised to become the latest in a long line of European biotechs to head to Wall Street in search of cash. The proposal marks an escalation of the cancer biotech's long-running flirtation with U.S. investors, which has already seen it set up on the OTC market and tap stateside sources for its previous fundraising round.
Biotechs listed on European stock exchanges have raised more money in the first half of 2015 than in all of last year, according to a report by Biocom. Over the first 6 months of 2015, €3 billion ($3.3 billion) flowed into Europe's 161 listed biotechs, one-quarter more than they added to their coffers in all of 2014.