Rare disease specialist Genzyme talked up the results of a study published in The Journal of the American Medical Association concluding that the only first-line oral therapy for Gaucher disease reduced spleen size 28% compared to placebo after 9 months.
At least one potential tax-inversion buyout target is pretty happy about the new deal-quashing rules: Actelion CEO Jean-Paul Clozel. In fact, he says, the slap at inversions is not just good for him and Actelion, but for the whole pharma industry.
PatientsLikeMe is continuing to expand its business into new areas. Having struck its first broad R&D collaboration with a biopharma earlier this year, the online patient network has now given Actelion access to its community to create a new health outcome measure for a rare cancer.
In the wake of AbbVie's $55 billion purchase of Ireland's Shire, which should slash the company's tax rate by more than a third, analysts are abuzz over which foreign company will be next on Big Pharma's buy list. Among the targets: Switzerland-based Actelion.
Talk about peer pressure. First, a couple of U.S. drugmakers pull off trans-Atlantic deals that shift their official HQs and lower their tax rates. Next, some bigger names go for the same tax-inversion strategy. Now, investors want to know why every drugmaker isn't jumping in.
Switzerland's Actelion has been on a winning streak of late, charting better-than-expected clinical trial results and beating analysts' earnings expectations thanks to fast-growing sales of its new blood pressure treatment. It's no wonder, then, that the company is a perennial subject of takeover rumors. But CEO Jean-Paul Clozel isn't interested in entertaining any deal offers.
Shares of Switzerland's Actelion spiked 15% Monday morning after the biotech reported that its next-gen oral pulmonary arterial hypertension drug selexipag proved a success in Phase III, setting up a showdown with regulators for a drug that's widely billed as a likely blockbuster.
Actelion has lost its fight against a $407 million court judgment. California's Supreme Court rebuffed the Swiss drugmaker's appeal in a lawsuit over competition for its top-selling drug, the pulmonary arterial hypertension (PAH) treatment Tracleer. That affirms a lower court's ruling that Actelion intentionally thwarted a rival by acquiring a drug company and then spiking its prospective Tracleer competitor.
The FDA has granted its fast-track status to Actelion's Phase III drug for C. difficile-related diarrhea, promising a shorter path to approval for the antibiotic treatment.
In an interview with Bloomberg, COO John Milligan says the big biotech outfit--which is expected to generate megablockbuster revenue from the newly approved Sovaldi for hep C--is pondering a head-to-head study to determine whether Letairis is better or worse than Actelion's recently approved lung drug Opsumit.