The EU on Friday recommended approval of Actelion's Opsumit, following FDA approval the week before, and by today the takeover talk was in full swing. With regulators giving thumbs up to a drug projected to be a blockbuster, analysts say any number of companies may want to do a deal and add the assured revenue to their own top lines.
Actelion has been anxiously awaiting FDA approval of its new pulmonary arterial hypertension treatment Opsumit, a follow-up to its only significant product, Tracleer, which goes off patent in 2015. Friday it got it.
Late on Friday the FDA came through with an approval for Actelion's pulmonary arterial hypertension drug Opsumit (macitentan), its next-gen successor to the franchise drug Tracleer.
In its third-quarter earnings report, Abbott surprised investors with a sizable dividend boost, while Actelion assured shareholders it can deliver new profit streams before blockbuster Tracleer goes off patent in 2015. Baxter's report was a little less rosy, with earnings falling on acquisition costs.
Ceptaris Therapeutics won FDA approval for its topical treatment for mycosis fungoides, the most common form of cutaneous T-cell lymphoma. The gel delivers the chemotherapeutic agent mechlorethamine, previously only approved for intravenous treatment.
Bayer garnered support from FDA staff for its submission for approval of riociguat for two forms of pulmonary hypertension, though reviewers recommended clearing the experimental drug at a lower dose than the company sought.
Switzerland's Actelion has struck a deal to buy Malvern, PA-based Ceptaris Therapeutics for $250 million--provided the FDA comes through with an approval of its T-cell lymphoma drug.
Big Pharma is obviously hungry for some M&A action and, in the mind of one watcher, a slimmed down Actelion might be a nice meal for one of them.
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 >>
They're not exactly carrying pitchforks and torches, but some activist shareholders are demanding satisfaction on executive pay.