Yesterday, Teva formally tied off its collaboration with Seattle-based OncoGenex after handing over a $23 million payment as it exited a partnership to develop the biotech's late-stage cancer drug custirsen. Today, OncoGenex took the next step in its survival plan, trimming down the size and length of an ongoing trial as it reorganizes in the face of a major setback.
An Israeli court ordered Teva Pharmaceutical to not only return the Copaxone (glatiramer acetate) multiple sclerosis drug it licensed from Proneuron Biotechnologies but also return 14 indications it received for other nervous system drugs. Oh, and pay Proneuron the equivalent of $128,666 as well.
Bayer had hoped to sell a veterinary med plant in Missouri that it picked up a few years ago from Teva. But no one has come forward, so the German drugmaker will close the plant and lay off 130 people.
Teva Pharmaceutical Industries and Barr Pharmaceuticals agreed to pay the largest settlement ever for a pharmaceutical "pay-for-delay" deal, $512 million. Fellow defendants Ranbaxy Laboratories and Mylan did not agree to the settlement.
Israel's Teva Pharmaceutical Industries is reported to be considering a $34 billion takeover of British-based Mylan. But if it indeed is, the takeover would have to be a hostile one given Mylan's strongly worded response to the reports.
Pharma puts so much emphasis on top line that drugmakers give scant consideration to what their supply chains are costing them. But a new report suggests that making a supply chain more efficient is not only going to save costs, but it will also help drive greater sales.
G&W Laboratories, which bought an Actavis facility in North Carolina last summer, is now taking over a Teva Pharmaceutical Industries facility in Pennsylvania that was on the cusp of closing.
The ripple effects from last week's Teva v. Sandoz ruling have begun. The U.S. Supreme Court sent three patent fights back to a lower court in light of that ruling, which ordered the Federal Circuit Court to defer to district-level findings on patent claims unless a "clear error" had been made.
Eight months after OncoGenex Pharmaceuticals and Teva acknowledged that their experimental cancer drug custirsen had flopped in a Phase III prostate cancer study, the big Israeli pharma company has executed a strategic retreat from their partnership. Teva is handing over $27 million to OncoGenex to complete the divorce and is walking away from a deal that included $60 million in upfront costs back in 2009.
Troubled Teva is circling its research wagons around CNS and respiratory diseases, carving out more than $500 million in research costs over the next three years with plans to shelve or spin out 14 clinical programs as it retreats from women's health and oncology.