AstraZeneca signed a pair of agreements centered on its most prized cancer therapy, selling a stake to the hematology experts at Celgene and buying the rights to a complementary treatment from Innate Pharma.
Celgene has stepped up with a deal to buy a $45 million chunk of Mesoblast's stock at a premium price in exchange for a front row seat on the Australian biotech's stem cell pipeline and a preferred spot at the bargaining table if it follows up with a licensing deal.
Eager to expand further into cutting-edge therapy areas, Australia's Mesoblast and U.S.-based Celgene entered into an investment and development deal for cancer and immune-inflammatory related diseases that also covers stem cell product candidates.
Celgene and Genentech are funding a clinical trial innovation prize focused on doubling the rate of participation in studies of cancer drugs. The project is challenging the crowd to submit ideas and evidence of their effectiveness in return for the chance to land a piece of the $75,000 prize kitty.
New York City's nascent biotech investment fund is ready to get rolling, recruiting some venture capital partners to join Eli Lilly, Celgene and GE Ventures with hopes of pouring $150 million into the local life sciences startup scene.
Celgene just got both an endorsement as well as a few challenges in a review of the midstage study for mongersen, an experimental drug for Crohn's disease that will soon be part of the big biotech's late-stage pipeline, with a Phase III study looming.
Hong Kong's Department of Health has approved Celgene's Abraxane as a new treatment option for late-stage pancreatic cancer, following an international Phase III clinical trial, one of the largest ever conducted in metastatic pancreatic cancer.
Celgene's powerhouse cancer drug Revlimid generated nearly $5 billion for the company last year and has now gotten yet another FDA nod which analysts believe will help it double that amount within 5 years.
The U.K.'s cost-effectiveness gatekeeper is singing an increasingly harsh tune when it comes to greenlighting cancer drugs, and Celgene's Imnovid is the latest med to get a thumbs-down from the watchdog.
Celgene edged past analyst estimates for the fourth quarter and full year, with earnings of $3.71 per share and $7.67 billion in revenue for 2014. Its powerhouse remedy for multiple myeloma, Revlimid, still accounts for the lion's share of those sales, at $4.98 billion in 2014 revenue, an increase of 16%.