Texas oral drug delivery specialist Neos Therapeutics pulled in $15.5 million in a Series C round of financing to help propel its line of ADHD controlled-release treatments to the market.
Shire has garnered FDA approval to make its orphan drug Vpriv at a plant in Lexington, MA. That means it now has approval at two plants in the U.S. to manufacture the treatment for type 1 Gaucher disease.
Shire CEO Flemming Ornskov has introduced a host of changes at the Ireland-based drugmaker since taking up the reins almost a year ago--and so far, they seem to be paying off. On Thursday, the company announced fourth-quarter earnings that handily beat market forecasts and predicted that growth will build in the year to come.
There's movement at the top of Shire. With CEO Flemming Ornskov about a year into his job, the specialty drugmaker has tapped Susan Kilsby to be its new chairman. She will replace Matthew Emmens, Shire's former CEO and chairman since 2008, who is retiring.
Market rumors about a possible biotech buyout are usually triggered by research and marketing success. In Ariad's case, mere survival sufficed.
Shire announced Friday it was selling the diabetic foot ulcer treatment to Canton, MA-based Organogenesis, which is not paying anything up front but could pay Shire up to $300 million if it meets sales targets up to 2018. With the deal, Organogenesis, which has its own foot ulcer product, gets the company's current 115,000-square-foot manufacturing plant in La Jolla, CA, but not the new facility.
When Shire picked up regenerative medicine operation Dermagraft a few years ago, it quickly turned into a money-losing dog. So Shire has decided to unload Dermagraft, even if it has to take a loss on the sale.
Shire's once-promising foray into regenerative medicine has largely been a bust, and now the Irish company is handing its costly Dermagraft program to Organogenesis in exchange for little but milestone payments.
Shire had hoped to pretty much have all of the shares of ViroPharma ($VPHM), the maker of rare disease drugs, pledged to its $4.2 billion buyout offer by the end of the year. But it didn't happen, and so it extended its $50 a share offer until last night. Now, it is extending the deadline again.
No one ever climbed the industry ladder without getting some help along the way. And for women, including many of the accomplished top performers in this group, that can be especially important....