Amid AstraZeneca's deal frenzy to rebuild its weak pipeline, the U.K.-based company has forged another research and licensing deal with Horizon Discovery to find new cancer drug targets.
Pharma-academic partnerships have their pitfalls--and how to share the cash is one of the biggest. Case in point: Boston Children's Hospital's lawsuit against Celgene ($CELG), which makes several lucrative cancer treatments.
AstraZeneca has swooped in to pick up a portfolio of new cancer therapy from Germany's Probiodrug. The pharma giant paid an undisclosed sum for the biotech's CDK9 program, which includes a lead molecule and some backups.
Cancer Research UK has struck a deal with AstraZeneca to repurpose an experimental therapy originally developed by the drug giant for asthma and study its ability to fight kidney cancer.
Earlier this week, when Hanmi Pharmaceutical launched its Nexium copy in the U.S. at-risk, it faced the possibility of paying a high price if AstraZeneca won a bid to defend its patent. An appeals court ruling in Hanmi's favor has let it off the hook, at least for now. If AstraZeneca wants to collect, it will have to convince the Supreme Court to hear the case--and it will have to win.
When Bristol-Myers Squibb got out of the diabetes development business a couple of months ago, the logical follow-up question was this: Will the company bag diabetes sales, too? The answer is yes.
AstraZeneca's $4.1 billion deal with Bristol-Myers Squibb ($BMY) will get it more than control of the 6 diabetes drugs the two currently share. It also will be picking up two U.S. manufacturing facilities, including one they only just acquired last year in their buyout of Amylin.
As Bristol-Myers Squibb backs away from diabetes development, AstraZeneca has stepped up to buy its partner's stake in the pair's joint venture, agreeing to hand over as much as $4.1 billion in a move that will add some promise to a thinning pipeline.
The difference between magnesium salt and strontium salt may be enough to threaten U.S. sales of AstraZeneca's blockbuster Nexium--starting now. Reports say South Korea's Hanmi is rolling out some early competition for the stomach drug before its patent expires next spring--the last thing the struggling AstraZeneca needs as it works to get back on track.
Delaware, a state hit hard by AstraZeneca's massive restructuring, is slated to get some investment from the U.K. drugmaker. The company will spend about $100 million over 5 years modernizing a facility in Newark that does global formulation work and serves as its key packaging and distribution hub in North America.