Bernstein's Geoffrey Porges has run the numbers on what a Gilead takeover of Vertex would look like. And he loves what he sees.
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.
Today, Vertex announced that David Altshuler, the deputy director and chief academic officer of the legendary Broad Institute, will be the Boston biotech's new CSO, taking the place of the pioneering Peter Mueller.
In recent years it's been the big biotechs in the U.S. which have registered approvals for the drugs most likely to succeed on the market. But in reviewing EvaluatePharma's recent picks for top Phase III drugs, it's interesting to see some prominent positions among the Big Pharma crowd. Read the full report >>
The drug-pricing battle continues, but this time, Gilead Sciences' Sovaldi isn't at the center. That dubious honor goes to Vertex Pharmaceuticals' cystic fibrosis treatment Kalydeco. According to a lawsuit filed by three CF patients, Arkansas Medicaid officials are locking them out of Kalydeco treatment.
With all hands on deck at Vertex focused on the development of a crucial combo drug for cystic fibrosis, the Boston-based biotech has outlicensed an influenza drug to J&J in exchange for a $30 million upfront.
Startup Alkeus is being sued by Irish drugmaker Alkermes for trademark infringement. According to the Boston Business Journal, the 25-year-old Alkermes filed the lawsuit on May 27, alleging that the smaller company's name could easily be mistaken for that of the more established developer of central nervous system disorder drugs.
With Gilead's Sovaldi elbowing Vertex's Incivek aside, Vertex is calling it quits on a once-ambitious R&D effort to keep a niche for itself in hepatitis C. The market, though, didn't blink, rewarding the biotech with a spike in its share price after Vertex cited some early success with a combination therapy for cystic fibrosis.
Even after out-licensing a pair of hepatitis C therapeutic candidates to Vertex, which was bidding on finding a contender as a new wave of transformational drugs approached the market, South San Francisco-based Alios BioPharma stubbornly maintained a very low profile.
Vertex Pharmaceuticals' piecemeal approach to the world's cystic fibrosis sufferers took a hit as Kalydeco failed to meet its primary endpoint in a Phase III trial on patients with one form of the disease, sending the company's shares down as much as 6% premarket on Thursday morning before an eventual rebound.