European regulators are getting the hang of levying pay-for-delay penalties, rolling up 6 companies in its latest action and fining them more than half a billion dollars in the process.
European antitrust regulators may have been a little late to the party when it comes to pay-for-delay actions but are making up for lost time. Sources are saying they will levy fines against French drugmaker Servier and Teva Pharmaceutical Industries next month for delaying the launch of generic blood pressure meds.
France's Servier has struck up a deal with Novartis to develop oncology drugs that invade tumors and lead them to self-destruct.
A busy Servier wants to explore Celladon's technology to see if there are some small molecule applications to diabetes and other metabolic conditions that warrant clinical development.
The French biotech announced this morning that it will collaborate with Paris-based Cellectis on UCART19, an engineered T cell with a chimeric antigen receptor for leukemia and lymphomas, as well as 5 other such programs. Servier is paying Cellectis $10 million down and up to $140 million per program in milestones in its gamble on the biotech's approach.
Servier owns 51% of the Hungarian drugmaker Egis, and it wants the rest. France-based Servier has offered 28,000 forint per share in cash, or almost $126, for the outstanding stock, putting the deal price at about $483 million.
Less than a year after striking a $1.1 billion antibody development deal with French drugmaker Servier, the Rockville, MD-based biotech has snagged a $10 million milestone for dosing the first patient in an early-stage study of their tumor-targeting drug MGA271.
Amgen continued its deal spree today with a three-way collaboration, in-licensing U.S. rights to Servier's heart drug Procoralan (ivabradine)--approved in Europe but not in the U.S.--along with a second, mid-stage cardiovascular drug while dealing out the European rights to Servier on a heart-failure drug now on the threshold of Phase III studies.
Citing heart risks, an EMA committee has recommended further restrictions for Protelos, an osteoporosis drug made by Servier, the company at the center of a scandal in France for off-label use of its Mediator diabetes drug, which also was tied to heart risks.
For 10 years after the U.S. and other countries had withdrawn the French diabetes drug Mediator from the market because of serious health concerns, authorities in France permitted Servier to continue selling it there. Now that it is a national scandal, authorities have hauled founder Louis Servier into court twice in less than 10 months, this time on charges of manslaughter.