Like a lot of biotechs, Juno Therapeutics has seen its share price kicked down to what would have looked like a bargain-basement rate from its highs in 2015 as a bear market mauled industry valuations in recent weeks.
Celgene's fourth-quarter sales grew by 24% to $2.5 billion, taking full-year revenue up to $9.25 billion, a 21% hike; it's expecting another sales leap for 2016--albeit slightly smaller--with a forecast of $10.5 billion to $11 billion. Its new drug Otezla chipped in $183 million for the quarter.
Last summer, Celgene paid $7.2 billion to get its hands on Receptos and its late-stage autoimmune drug ozanimod, which the big biotech feels has blockbuster commercial potential. And now one of the principal scientists involved in discovering ozanimod is spotlighting a new mechanism of action spurred by the drug that may well inspire new work on next-gen drug models.
SAN FRANCISCO-- During a luncheon meeting with reporters at a hotel near a bustling Union Square, Celgene CEO Bob Hugin--soon to be the executive chairman as Mark Alles moves into the CEO suite--was asked where he was interested in taking the company.
Celgene's Mark Alles will join biopharma's slate of new CEOs in March as part of a management reshuffling at the $9 billion-plus biotech. Current chief Bob Hugin, who has led Celgene through a major expansion over the past 5 years, will move upstairs to the executive chairman's office.
Celgene is getting in the holiday spirit, settling the score with Indian generics maker Natco over patents for its cancer blockbuster Revlimid.
Just in time for the holidays, Celgene settled the score with Natco Pharma over patents for its cancer blockbuster Revlimid. The company is allowing the Indian generics maker to start selling copycat versions of its best-selling drug before Revlimid goes completely off patent in 2027, but with a few strings attached.
Celgene and India's Natco Pharma have announced they settled pending patent litigation, and the terms of the deal mean that Natco will be able to start sales of its generic version of Calgene's multiple myeloma drug Revlimid in the United States more than a year before the drug's patent expires.
AbbVie, questing to justify its colossal buyout of Pharmacyclics, came away among the winners of the weekend's American Society of Hematology meeting, while the recently IPO'd Global Blood Therapeutics ran into mixed results with its sickle cell therapy and Celgene doubled down on immuno-oncology.
One of Agios Pharmaceuticals' blood cancer treatments demonstrated promise in a Phase I study against solid tumors, but the results fell short of some investors' expectations, sending the company's share value down about 10%.