The year's 10 highest-paid development executives pulled in $124.4 million in total compensation, a roughly 35% jump over 2013's top earners. And while each entrant benefited from meeting individual company goals, the whole group benefited from biopharma's macroeconomic moment in the sun, as the value of stock awards skyrocketed alongside the industry index.
Vertex Pharmaceuticals won the FDA's blessing to market a new combination therapy for cystic fibrosis, clearing the way for a drug key to the company's future as it moves away from antiviral treatments.
A panel of FDA advisers voted in favor of Vertex Pharmaceuticals' closely watched combination treatment for cystic fibrosis, looking past some efficacy doubts and setting the stage for a likely approval.
FDA reviewers plan to put Vertex's cystic fibrosis team to the test on Tuesday. In a review of the big biotech's data for its closely watched combination therapy for CF, the reviewers raised doubts about the efficacy of the drug, posing a challenge to a program that is crucial to Vertex's future.
Corbus Pharmaceuticals, which has an upcoming Phase II study for its sole clinical asset, an anti-inflammatory for cystic fibrosis called Resunab, is being feted in a glowing piece from Reuters portraying the company as a rival to Vertex.
Vertex will start the new year with a group of new eligible patients for cystic fibrosis drug Kalydeco, thanks to a Monday green light from the FDA.
Dutch drug developer ProQR Therapeutics is swinging for a $75 million Wall Street debut to fund its work on a treatment for cystic fibrosis, looking to compete with market leader Vertex Pharmaceuticals.
There's no mistaking Geoffrey Porges' opinion on Vertex's chances of success with its combo study of VX-809 and Kalydeco. After spending the weekend at the European Cystic Fibrosis Society meeting in Sweden, the prominent Bernstein analyst came away even more soured on the experimental CF drug's potential, with pivotal data for the combo looming on the horizon.
In drug development, everything's a gamble, if you're doing something new and shooting at a big target. But there has to be a reasonable assumption that if safety issues aren't being glossed over and the efficacy data hold up, these top drugs can change standards of care and grab market share. So here's my pick of the likely big winners >>
Novartis notched an FDA approval on Friday for a dry-powder formulation of an antibiotic that fights a type of bacterial infection in patients with cystic fibrosis (CF).