The dealmakers at Celgene like to get really, really close to their biotech partners. And nothing demonstrates the sincerity of their interest in new technologies better than the acquisition of a nice big chunk of equity.
Close to a year after Forma Therapeutics' executive team hammered out a partnership with Celgene packed with $200 million in early-stage payouts, the big biotech outfit has come back with a $600 million discovery deal that might eventually lead the pair to the M&A altar.
With its FDA approval for psoriatic arthritis, Celgene's Otezla (apremilast) comes into a market dominated by some of the best-selling drugs in the world, including AbbVie's top seller Humira and Enbrel from Amgen and Pfizer. But instead of an injection, Celgene's drug is a pill, an advantage the company thinks will help it eventually reach up to $2 billion in sales--a figure analysts feel less certain about.
Celgene picked up the FDA's blessing for the much-debated apremilast, winning approval to market the oral drug as a treatment for psoriatic arthritis in step one of its blockbuster plan.
Celgene is working to expand its portfolio of drugs, but for now its growth is primarily driven by extending the uses of its megablockbuster Revlimid. As successful as the myeloma drug has been, the U.K.'s NICE is again questioning its cost vs. benefit for certain patients.
Celgene's roving band of dealmakers has selected San Diego-based Abide Therapeutics for its latest option package, taking an equity stake in the biotech as it settles into a front row seat on its progress regarding a broad R&D front and gaining first dibs on Abide's lead program.
Any industry that's undergoing as much change as biopharma is always looking for leadership. Old marketing practices are being blown apart, R&D is being subjected to emergency surgery, drug...
New Jersey-based Celgene in 2011 tucked a notice into a financial report that a U.S. Attorney in California was investigating its marketing of its cancer meds Revlimid and Thalomid. Nothing more was said until Thursday when the company divulged that the probe was tied to lawsuits filed against it by whistleblowers.
Biopharma's long-heralded return to R&D ROI may come up short this year, according to EvaluatePharma, and the next class of approved drugs features fewer blockbusters in waiting than in any of the previous four years.
When new drugs roll out, they meet the general population for the first time. Patients are no longer hand-picked as they are in clinical trials. And that often translates into a flurry of side-effect reports to the FDA. Last year's crop of new drugs is no exception.