San Francisco incubator QB3 is linking up with pharma giant GlaxoSmithKline on some translational work, looking to push a few academic research projects toward the clinic.
The first half of the year has provided a good ride for Big Pharma and its investors with indices up in the U.S. and Europe. Even Japanese drugmakers avoided the side effects of China's stock market meltdown and saw values rise 23%. But, of course, averages come from the highs and the lows and some players have actually seen share price declines during this bull market.
Thanks to the companies' recent multi-billion-dollar asset swap, Novartis already has the rights to former GlaxoSmithKline drug ofatumumab's cancer applications. But now, it's forking over up to $1 billion to gain full control of the med--currently marketed as Arzerra--and to test it as a therapy for multiple sclerosis.
Novartis is paying GlaxoSmithKline as much as $1 billion for the rights to a mid-stage multiple sclerosis treatment, betting it can develop an heir to the blockbuster Gilenya, soon to lose patent protection.
The decision of GlaxoSmithKline CEO Andrew Witty to double down on consumer health products has not been very popular with some investors, who question the strategy of focusing on low-margin, high-volume products like toothpaste. Well, Witty has a whole lot less toothpaste to sell right now, since GSK has recalled more than 3.9 million tubes that may have more than whitener in them.
GlaxoSmithKline is laying off nearly 1,000 employees in North Carolina in an effort to trim its R&D costs, cutting deep into the biotech ecosystem in Research Triangle Park. But a handful of ex-GSK researchers have swiftly moved on, starting up a biotech to develop peptide therapies of their own.
GlaxoSmithKline has quite a bit riding on results from a trial of respiratory newcomer Breo--as in, billions of dollars in sales. And those data could come along as soon as next month.
We've heard pharma's latest numbers on individual product sales. We know how each company's drugs stack up internally. But how are the top-prescribed brands doing in the overall industry horse race?
GlaxoSmithKline says that the people and products at its manufacturing site in Zebulon, NC, were never in peril from the bacteria for Legionnaires' disease detected this week in two cooling towers for the facility.
Industry watchers have pointed to a slowdown in pharma's emerging markets growth as a worrying sign for companies that have been heavily targeting developing nations while the U.S. and European markets stagnate. But just how slow has the growth become?