Regeneron is handing off the Asian rights to its in-development musculoskeletal pain treatment for up to $325 million, handing the antibody over to a subsidiary of Japanese giant Mitsubishi.
Payers unhappy with the cost of new PCSK9 drugs are getting some ammo, as top U.S. physicians are recommending against using the drugs in a large patient pool.
Back at the beginning of 2014, a fast-growing Regeneron revealed that it had been building a new genetics research center that would zero in on carefully targeted diseases as it built new drug development programs from the ground up. Eighteen months later the big biotech says the effort--led by some top researchers wooed in to run the operation--has paid off with a clear target for a rare genetic bone disease. And they have an antibody in preclinical testing that could correct the disorder.
Boosted by a major new drug approval, a booming Regeneron Pharmaceuticals is swelling rapidly in size. The big biotech has added 116,200 square feet of office/lab space to its lease at the Landmark at Eastview research campus in Tarrytown, NY, about 30 minutes from Manhattan. The expansion swells Regeneron's footprint on the campus to a giant-sized 1.1 million square feet, according to landlord BioMed Realty Trust.
When George Yancopoulos walked away from Columbia University to join Regeneron in 1989, the decision to leave academia for industry was at least partly motivated by the pay differential. The move paid off and then some, with Yancopoulos becoming the first billionaire biopharma R&D head at a time when the best-paid research institute chiefs are pulling in just north of $1 million a year.
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.
Earlier this year, Regeneron scored a win when its eye drug Eylea outperformed a pair of Roche meds in a head-to-head study. And now, that win is paying off.
Regeneron, toasting the approval of its latest treatment and riding the success of its last one, is investing more and more into R&D, lining up a stable of new therapies with blockbuster ambitions.
Payers may already be cooking up ways to reduce the $14,600 yearly price of Sanofi and Regeneron's new PCSK9 drug, Praluent. But to some patients, the drug is a bargain.
After winning approval for their PCSK9 drug Praluent last week, longtime partners Sanofi and Regeneron are back at it with a new collaboration. The French pharma giant will pay at least $1.8 billion in a new immuno-oncology deal that includes an early-stage checkpoint inhibitor.