After spending $8.7 billion on Bausch + Lomb, Canada's Valeant is hardly done dealmaking, CEO Michael Pearson said, telling analysts Valeant is on the lookout for cash deals to expand its pipeline and is keeping its ears open to a "merger of equals."
Fidelity Biosciences is placing a big bet on gene therapy, funding the launch of startup Dimension Therapeutics with some licensed patents and a plan to develop novel treatments for hemophilia.
GLP-1 drugs have long been one of the hottest targets in diabetes R&D, attracting the attention of the all of the giants that play in this blockbuster market. But now Roche has its eye on an early-stage program that could do GLP-1 drugs one better.
Shares of badly battered Ariad Pharmaceuticals took a fresh dive this morning after the biotech reported that it is jerking its leukemia drug Iclusig from the market, two weeks after the drug developer opted to shutter its Phase III confirmatory study after seeing evidence of an elevated risk of blood clots among patients.
Once expected to crest at $2.52 billion a year, most analysts now don't see AstraZeneca's blood-thinner Brilinta hitting the $1 billion blockbuster mark, with a poor impact in the U.S. market dragging down projections.
A pair of scientifists with deep roots in the Alzheimer's field is partnering up with two high-profile antibody development experts with a well-developed platform technology to launch a new biotech with ambitious plans to build a pipeline of new medications to combat the memory-wasting disease. And they're getting $10 million in seed cash from two marquee venture groups to get everything going.
Drug companies routinely herald their concern for patients as the leading reason why they spend billions of dollars on drug research. But a new study questions Big Pharma's real commitment to its ethical obligations to patients when companies routinely neglect to publish the results of clinical trials.
Already suffering from an expert panel rejection for an expanded label on its cholesterol drug Vascepa, Amarin was subjected to another drubbing on Wall Street after the FDA formally withdrew its Special Protocol Assessment agreement on a study of the treatment.
Seven months after a mid-stage cancer drug from Sanofi and Merrimack Pharmaceuticals flunked its first mid-stage test, researchers are back with another failure to report. The Cambridge, MA-based biotech said that MM-121 (SAR256212), partnered with Sanofi in a $530 million deal, failed to hit the primary endpoint on progression free survival for ovarian cancer when combined with Taxol. Once again, though, the investigators are pointing to a subpopulation which benefited from the drug.
Tantalized by various megablockbuster projections for the PCSK9 field of cholesterol drugs, Pfizer has mapped out one of the most ambitious late-stage programs in the industry for RN-316.
Over the last few months, Carlos Paya has been filling out his management team at Seattle-based Immune Design. And today the biotech CEO detailed an injection of $32.5 million in venture cash--with the near-term prospect of adding $16.5 million more--to finance the biotech's efforts to nail proof-of-concept data on its two top cancer vaccines.
New Jersey's Arno Therapeutics has nailed down a $30 million private placement, cash that'll help the biotech get its treatment for hormone-dependent cancers through Phase I and on the path to FDA approval.
Japan's Eisai is slashing 20 R&D jobs and eliminating some 30 consultants contracts in the UK as part of a global R&D restructuring, according to a local spokesperson for the company.
In its joint venture, Glaxo will front $1.8 million for work on the thermostability of vaccines. GSK will set out to make adjuvants--used to boost the effectiveness of vaccines--more heat stable. The project fits within the broad scope of work attempting to break the "cold chain" supply process that requires vaccines to remain refrigerated--a big challenge for developing countries.
The lead drug is a glutaminase inhibitor, targeting an enzyme that plays a role in tumor metabolism. The biotech plans to identify patient populations that will most benefit from the drug, sticking with a carefully targeted approach that has dominated the cancer drug field.
Venture luminary Frazier Healthcare just closed an overcommitted $377 million fund, and now the Seattle investor has a biotech veteran onboard to help it make bets in life sciences, recruiting former Calistoga Pharmaceuticals CEO Carol Gallagher to serve as partner.
Pfizer announced in its quarterly statement today that Lilly had agreed to share the cost of development on tanezumab in exchange for a split of the profits. Lilly, which has come under increased scrutiny after a series of high-risk drug programs failed to pan out, will also pay an unspecified upfront--provided the FDA lifts a partial hold on the program.
The pink slips are starting to fly at Merck R&D. The rumor mill was running full tilt on Monday morning, with comments flowing across Twitter that planned layoffs are in the works. And a company spokesperson confirmed that the first of a planned wave of 8,500 in fresh job cuts are being made now.
With blockbuster sales of Eylea spurring some gangbuster projections for Regeneron's future, the booming biotech today launched construction of a 300,000-square-foot R&D facility at its campus in Westchester County, NY.
Bristol-Myers Squibb's little-discussed rheumatoid arthritis drug clazakizumab posted strong results in a mid-stage study, meeting its endpoints, notching promising remission data and stirring hopes that the treatment can compete with AbbVie's blockbuster Humira.