The prostate cancer experts at Medivation are getting into the hot field of checkpoint inhibitors for cancer, agreeing to pay Israel's CureTech as much as $335 million for the full rights to a promising Phase II asset.
Johnson & Johnson's next-gen prostate cancer pill, Zytiga, has been cruising since it hit the market back in April 2011, but now, it may be vulnerable to market share losses for the first time. The FDA has approved Medivation and Astellas' rival, Xtandi, for use in prostate cancer patients before chemo, giving the pill a head-to-head shot at J&J's blockbuster.
Astellas and Medivation today said they are asking the FDA for approval for Xtandi to be used on patients with metastatic castration-resistant prostate cancer who have not received chemotherapy.
Medivation and Astellas Pharma unveiled final results on primary and secondary efficacy endpoints from their Phase III PREVAIL trial of Xtandi (enzalutamide), showing that the drug delayed tumor growth and prolonged the lives of patients with metastatic prostate cancer who previously have not undergone chemotherapy.
Xtandi has reached a key milestone: success in a Phase III trial eyeing the drug from Medivation and Astellas as a prechemo treatment for advanced prostate cancer.
Now that the final wrap-up of Amgen's $10.4 billion buyout of Onyx is under way, analysts can get back to one of their favorite pastimes: Speculating on the next big biotech M&A deal that could make executives rich and investors' portfolios burst with big gains.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Alison Bryant (email | Twitter) and we will feature it...
The market for prostate cancer drugs is expected to double by 2021 to $9.1 billion, thanks in part to the debut of new, more expensive drugs. According to Decision Resources, Johnson & Johnson's ($JNJ) Zytiga, along with Medivation ($MDVN) and Astellas Pharma's new Xtandi, will help drive sales growth in 7 major drug markets.
Just days after reporting positive interim results from a mid-stage study of its closely-watched prostate cancer drug, San Diego-based Aragon Pharmaceuticals has topped up its bank account with a whopping $50 million venture round--bringing its total haul this year alone to $88 million.
Astellas Pharma and Medivation won FDA approval for their prostate cancer treatment Xtandi three months ahead of schedule. That's welcome news for them--but perhaps not so welcome for competitors, especially Johnson & Johnson, whose Zytiga pill will be Xtandi's closest rival.