AstraZeneca won accelerated FDA approval for its ovarian cancer fighter Lynparza (olaparib), opening the door for potential blockbuster sales of the drug and helping the company distinguish itself from rivals in the BRCA playing field.
In one interview published over the weekend, AstraZeneca CEO Pascal Soriot pooh-poohed the idea of Pfizer coming back with another takeover bid. In another, he gave a subtle warning about his company's stated goal of hitting $45 billion in sales within a decade.
Despite loud objections from its advisers, the FDA granted an accelerated approval to AstraZeneca's ovarian cancer treatment, clearing an oral therapy the U.K. drugmaker believes will bring in blockbuster sales.
AstraZeneca scored European approval for its ovarian cancer-treating drug Lynparza (olaparib), expanding its cancer portfolio at a time when the company is trying to show investors that it's better off independent.
Just a week after saying it would close a plant in the U.S. and whack 180 jobs, AstraZeneca said that a facility in the U.K. will also close and 250 more jobs will be cut there.
AstraZeneca has been fighting a losing legal battle to protect the patent on its asthma drug Pulmicort Respules, and a plant in Massachusetts will pay part of the price. The U.K. drugmaker says it will close the plant next year, putting 180 workers out of jobs.
Last year, the U.S. Supreme Court slapped the industry with an unfavorable pay-for-delay verdict, ruling that consumers have the right to challenge brand-name drugmakers' patent settlements with generics companies. Now, in what could become a bellwether case for the industry, AstraZeneca scored a victory federal court as a jury found that the company's deal with Ranbaxy Laboratories to delay a generic launch of its heartburn med Nexium was not anticompetitive.
The U.S. Supreme Court last year refused to side with the industry in so-called pay-to-delay deals. Instead it pulled back the insulating legal blanket the industry had been wrapped in, ruling the deals must be fought on a case-by-case basis. Now AstraZeneca is first up to see how juries will respond, facing potentially billions of dollars in damages if it loses.
Forget the odds on Thanksgiving Day football games. What's your bet on Pfizer lodging another bid for AstraZeneca?
Amgen and AstraZeneca have racked up their third straight Phase III win for brodalumab in plaque psoriasis, beating J&J's Stelara in a head-to-head study. The news comes just two weeks after the pharma partners posted their latest positive results, positioning them for a run at regulators on both sides of the Atlantic.