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Biotech deals

Latest Headlines

Latest Headlines

Astellas faces FDA delay on reformulated Prograf

The FDA has issued a nonapprovable letter to Japan's Astellas Pharma for a new formulation of its drug Prograf for heart transplant patients. But the agency also said that the drug was approvable for liver and kidney patients while asking for additional information before a final decision is made. That delay sent shares of Astellas down more than five percent, although company officials said they had not given up hope of an approval. The patent on Prograf, which earned $1.4 billion last …

Speculation heats up on fate of AGI-1067

There's an intense amount of market buzz focused on AtheroGenics' lead drug candidate, AGI-1067. The wire services have noted that the company's CEO--Russell M. Medford, M.D., Ph.D (photo)--is preparing to make a presentation at the J.P. Morgan conference next Wednesday and hard data from the Phase III trial is due to be released at the ACC meeting in New Orleans, leading to some speculation that the company is working out the …

Biogen to buy Syntonix in $120M deal

Biogen Idec has moved to beef up its pipeline by acquiring Syntonix Pharmaceuticals for $40 million down and up to $80 million in milestone payments. Biogen Idec says it will maintain Syntonix's 25,000-square-foot facility in Waltham, MA. Biogen gains a lead product for hemophilia B and technology for developing inhalable treatments.- here's release on Biogen's latest deal Related Articles: Biogen inks …

DEALS: GSK licenses Genmab's HuMax-DC20 for $2.1B

GSK licenses Genmab's HuMax-DC20 for $2.1B

Editor's Corner

Here's wishing everyone had a happy holiday break. While we were away for our customary leave, we spotted some notable headlines. Telik scored the biggest news of the past week, reporting that its cancer therapy …

Altus inks $140M pact for human growth hormone

Genentech has agreed to pay Altus $30 million--half as an up front fee and half as an investment--in a new development deal covering a therapy for human growth hormone deficiency. The pact covers ALTU-238, an experimental human growth hormone being developed as a once-weekly therapy. Altus also stands to gain up to $110 million in milestone payments for a successful development program. Genentech will cover development and commercialization costs while the two companies will share …

Exelixis inks $120M development pact with BMS

Exelixis is gaining a $60 million up front fee from Bristol-Myers Squibb in a pact to develop new cancer therapies. Exelixis is responsible for selecting small molecule drugs for specific targets while BMS has the right to choose up to three candidates for three targets. Exelixis will also get $20 million for each drug BMS selects. The two companies have agreed to share development costs, profits and marketing in the U.S. But Exelixis also has an opt-out agreement that would provide a …

DEALS: GSK, Epix ink $1.2B deal

GSK, Epix ink $1.2B deal

Indevus in $120M deal to acquire Valera

Indevus Pharmaceuticals is buying Valera Pharmaceuticals in a stock deal valued at $120 million. The buyout, which includes milestone payments based on future performance, gives Indevus control of Valera's work in urology and endicronology. The two companies inked a co-promotion pact on the prostate cancer drug Vantas. Indevus is paying a 43 percent premium compared to the Monday close on Valera's stock. "Upon closing, Indevus' robust product portfolio will include three marketed …

Nuvelo shares tank on late-stage failure

Shares of Nuvelo took a serious thrashing this morning after it announced that two late-stage trials for Alfimeprase--an experimental blood clot dissolver--failed to hit either their primary or secondary endpoints. The failure sent its shares into a tail-spin, shearing more than 80 percent off its value. The trials had aimed to provide data on the avoidance of open vascular surgery within 30 days of treatment and also on catheter occlusion. The CEO of Nuvelo, Ted Love, said that the …