AstraZeneca

Pharma, universities have closer ties

Maureen Martino — Thu, 13 Nov 2008 10:51:35 -0500

Once upon a time, Pharmas had a very simple relationship with academic research institutions. Big Pharma, with its deep pockets, provided money to university research labs. In return, the companies would get the rights to whatever discoveries were made at those labs.

But that's not the case these days, report Chemical & Engineering News. Pharma and biotech companies now recognize the value of having a closer relationship with the labs that are doing the earliest, ground-breaking research. In these newer pacts, scientists from both sides interact on a regular basis, and oftentimes their lab space is close by. This, supporters say, encourages a free flow of ideas and research.

"It's an evolution away from the traditional funding paradigm toward what I view as a truly collaborative agreement," says Karen Seibert, the vice president of Pfizer's research labs in St. Louis. In a five-year deal worth $25 million, Pfizer and Washington University recently extended their relationship to collaborate more closely on immuno-inflammatory disorders. "There is complete openness--no walls, no barriers. The ideas develop collaboratively, and the focus often changes when our scientists come together to the table." A number of other drug makers have signed similar agreements, including AstraZeneca and Columbia University Medical Center, and Merck and Harvard Medical School.

Critics of these agreements prefer the old method of doing things, in which pharmas were less involved in the day-to-day research. While they acknowledge that the industry is an important funding mechanism, they fear the restrictions academia may face in these alliances. "I am always hesitant to form an alliance like that because there's a difference in goals," notes Hector DeLuca, a biochemistry professor at the University of Wisconsin at Madison. "There are a lot of restrictions with industry that I don't like to see in the academic world."

- see this report for more

AZ promotes a new chief of drug development

John Carroll — Tue, 04 Nov 2008 10:53:09 -0500

John Patterson (photo) is retiring after seeing "mixed" responses from his stint as chief of development at AstraZeneca. Pharmalot notes Patterson, 61, will be replaced by Anders Ekblom, 54, who takes over at the end of January. Ekblom signed on to work at the pharma giant 15 years ago after working at Sweden's prestigious Karolinska Institutet. He is currently head of global clinical development.

Patterson played a key role in the MedImmune acquisition, helping to build AZ's biotech business around the Maryland developer. But he also saw setbacks for some important drug programs for stroke and diabetes.

- check out the AstraZeneca release
- read the report from Pharmalot

MedImmune opens UK facility

Maureen Martino — Fri, 17 Oct 2008 09:06:41 -0400

Some much-needed good news for the UK: MedImmune has opened a new biologics R&D facility in Cambridge that it says will boost the number of candidate drugs that it can develop each year.

MedImmune, which AstraZeneca acquired for $15.6 billion, was merged with Cambridge Antibody Technology last year to become AZ's biologics unit. The new facility is part of the company's strategy to aggressively boost its biologic offerings and deliver an average of one new biologic product per year from 2013.

"Today, MedImmune has one of the largest and most diverse biologics product pipelines in the biotech and pharmaceutical industries. We want to maximise our potential to develop new and better medicines, so adequate space and resource for R&D is a real priority for us," said Jane Osbourn, vice president of research, Cambridge.

- here's MedImmune's release
- see this article for more

AZ CEO makes new case for drug partnerships

John Carroll — Tue, 14 Oct 2008 12:03:48 -0400

BioWorld turned in an interesting feature on David Brennan's speech at BioPartnering Europe, where the buzz was all focused on the global economic crisis and the likely impact it would have on biotech. For Brennan, the CEO of AstraZeneca, the crisis makes it even more important for cash-rich pharma companies like AstraZeneca to do more partnership deals.

"Strong companies don't sit around passively waiting for the storm to pass. For AstraZeneca, strategic partnering is priority," he told the group. He then listed the six reasons why:

1. Combining resources creates more value for both parties.

2. Payers and regulators are demanding more and more, and it takes two to deliver.

3. Partnerships add new skills to your company.

4. Partnerships force companies to focus on key disease areas.

5. Years of experience at partnering has improved the whole process for pharma and biotech companies alike.

6. Partnerships are having a bigger impact up the development and marketing chain.

- for more details, go to the BioWorld article

BMS, AstraZeneca present saxagliptin data

Maureen Martino — Tue, 09 Sep 2008 09:36:07 -0400

Bristol-Myers Squibb and AstraZeneca presented results from a 24-week Phase III study of Onglyza (the proposed trade name for saxagliptin). When used in combination with metformin, the drug produced significant reductions across all key measures of the glucose control studied.

The results were unveiled at the 44th European Association for the Study of Diabetes Annual Meeting. An NDA has already been submitted to the FDA and EMEA. If approved the drug could bring in $2 billion a year and will compete with Merck's DPP-4 inhibitor Januvia.

- check out the release

AZ teams up with Singapore cancer centers

Maureen Martino — Fri, 15 Aug 2008 08:37:51 -0400

AstraZeneca has forged a new partnership with the National Cancer Centre Singapore and the National University Hospital to develop anti-cancer compounds. The deal covers both clinical and pre-clinical development of therapies for inoperable Hepatocellular Carcinoma, a liver cancer. In a statement, AstraZeneca said the partnership would further its drug development activities in Asia.

"Singapore is one of Asia's fastest growing bio-clusters and offers excellent IP protection, a population base representative of Asia, world-class scientific and clinical infrastructure as well as access to global talent," said Mr. Yeoh Keat Chuan, Executive Director, Biomedical Sciences, Singapore Economic Development Board. "AstraZeneca joins an expanding base of leading pharmaceutical and biotechnology companies that have chosen to develop new drugs and therapies in Singapore."

Over the last several years, Singapore has aggressively pursued a strategies to attract biotech business, pouring $8 billion over to further strengthen R&D capabilities. The city-state twice landed on FierceBiotech's list of the top five regions for biotech business. GlaxoSmithKline, Genentech and Eli Lilly are among a number of drug developers that have opened operations in Singapore.

- check out AstraZeneca's release

Infinity, AZ halt prostate cancer trial

Maureen Martino — Wed, 16 Jul 2008 08:26:18 -0400

Infinity Pharmaceuticals' shares fell on the news that it has halted a Phase II trial of IPI-504 for prostate cancer. The company, which partnered with MedImmune/AstraZeneca on the drug, said it has not observed evidence of biologic activity in the trial and has, therefore, concluded that the overall risk-benefit ratio does not justify continuing a signal-finding study as a single agent in this indication. Infinity is not abandoning the drug, however. The company is conducting trials of the drug for non-small cell lung cancer, gastrointestinal stromal tumors, and evaluating IPI-504 in combination with docetaxel.

"With our partners at AstraZeneca, we are pursuing a rigorous and broad clinical research program, including multiple early, disease-specific, signal-finding trials to determine which patients we believe are most likely to benefit from our novel anti-chaperone agent," said Julian Adams, Ph.D., president of research and development and chief scientific officer at Infinity. "We remain committed to the clinical development of IPI-504 in GIST and non-small cell lung cancer, where we have seen early evidence of activity, as well as to future studies in additional tumor types."

- check out Inifinity's release for more

MedImmune’s Mott heads for the exit

John Carroll — Thu, 26 Jun 2008 11:35:02 -0400

David Mott, the CEO of MedImmune who led his company through a $15.6 billion buyout by AstraZeneca, is leaving the company a year after the deal closed. Mott says he's leaving for personal reasons and not because of any management disagreements. Following the AstraZeneca buyout, MedImmune was tapped to head the pharma giant's biologics work, integrating Cambridge Antibody Technology with the Maryland developer. Tony Zook, who heads AstraZeneca's North American operation, will take Mott's place until a successor is named.

The buyout didn't sit well with all the analysts several of whom said AstraZeneca paid too much. And one anonymous analyst told Thomson Financial that with Mott out of the picture AstraZeneca had lost a potentially strong successor to AstraZeneca CEO David Brennan.

- read the story from Thomson Financial

Elan wins $55M judgment in patent scrap

John Carroll — Mon, 16 Jun 2008 07:38:16 -0400

Ireland's Elan won a $55.2 million judgment against Abraxis BioScience on Friday, prevailing in its case that Abraxis' breast cancer drug Abraxane uses a technology protected by an Elan patent. Abraxane was approved by the FDA three years ago. This fight is far from finished, as Abraxis says it plans to appeal the ruling.

- read the report from RTT News

ALSO: Investors are anxiously awaiting a Phase II update from Elan and Wyeth on bapineuzumab, a potential blockbuster drug targeted at the root causes of Alzheimer's. Significant success in the clinic would pave the way for a new drug to compete against therapies that offer little long-term benefit. Report

DPP-4 inhibitors get spotlight at ADA meeting

John Carroll — Mon, 09 Jun 2008 11:55:40 -0400

Researchers are unveiling positive data at the American Diabetes Association's meeting for new DPP-4 inhibitors for diabetes. Takeda is the latest, demonstrating that its alogliptin can control blood sugar alone or in combination with other therapies. AstraZeneca has already presented data on saxagliptin. Taken for 26 weeks, says Takeda, alogliptin can cut hemoglobin A1C by 0.6 percent at its strongest dose. DPP-4s have a mixed record. Merck has a therapy on the market--Januvia--while Novartis' Galvus has yet to be approved.

Merck, meanwhile, revealed new data backing Januvia, saying the drug targets key cells in attacking diabetes. And researchers said the DPP-4 inhibitor reduced the risk of hypoglycaemia, a potentially fatal side effect.

- read the AFX report
- read the story from Hemscott

SPOTLIGHT: Fortune snubs Big Pharma in employers list

Fri, 06 Jun 2008 06:59:53 -0400

Looking for the best employers? Don't look at Big Pharma. The annual Fortune magazine list of the 100 "Best Companies to Work For" contains only one Big Pharma name: AstraZeneca, at No. 83. Genentech, a biotech certainly worthy of the "Big" label, made the top 10 for the third year in a row (this year it's No. 5). Report

MedImmune to hire 800 in pipeline push

Thu, 05 Jun 2008 06:59:57 -0400

With plans to double the number of experimental therapies in its pipeline by 2010, MedImmune is laying plans to hire 800 new staffers by the end of this year, according to a report in the Washington Business Journal. That's a 25 percent increase in its workforce, which also swelled after AstraZeneca bought the Gaitherburg, MD-based developer and combined its operations with the UK's Cambridge Antibody Technology Group. Many of these new hires will be headed for the research department, which has ambitious plans for fast growth. MedImmune has outlined plans to provide 25 percent of AstraZeneca's late-stage therapies by 2010.

- read the report in the Washington Business Journal

ALSO NOTED: BioSeek to collaborate with Merck KGaA; BioAlliance acquires drug rights; and much more...

Tue, 20 May 2008 06:59:50 -0400

> BioSeek has forged a collaboration deal with Merck KGaA to evaluate the potential of small molecules and proteins. Release

> BioAlliance Pharma has acquired the European rights to ondansetron Oral Spray, which is being developed by NovaDel Pharma. NovaDel gets a $3 million licensing fee and up to $24 million in milestones. Release

> Dr. Dale Bredesen is leaving the Buck Institute for Age Research and launching Prevarex, which will help people understand more about medical research and advances in diagnostics. Report

> A U.S. court hearing over Seroquel's patents has been bumped forward to today from June 4, boosting speculation that the drugmaker might just come out on top in the high-stakes case. AstraZeneca report

> Rep. Bart Stupak might be a severe FDA critic, but he's also shaping up to be the agency's dearest friend. Chief of the House Energy and Commerce committee's oversight-and-investigations group, Stupak helped push FDA commissioner Andrew von Eschenbach to ask for millions more in FDA funding. FDA report

> The British press is abuzz today with the fact that outgoing GlaxoSmithKline CEO Jean-Pierre Garnier abruptly ended a BBC interview when it turned adversarial. Report

And Finally… The Massachusetts Biotechnology Council and the American Cancer Society are raising $1.4 million to fund three years of research by 10 Massachusetts cancer scientists. Story

Biotech M&A has yet to reach its peak

Fri, 09 May 2008 06:59:56 -0400

In analyzing the PowerShares Dynamic Biotech & Genome ETF, a fund made up of primarily small- and medium-cap biotech stocks, Seeking Alpha notes that Big Pharma's appetite for biotech acquisitions is far from satisfied. Despite the fact that Pharma's interest in biotech reached an all-time high last year, the conditions are right for an even bigger run on biotech M&As in the near future. Pharma companies are trying to fill weak pipelines and have the money on hand to do it. Add to that the fact that many small biotechs can be bought for a bargain, and you have the perfect conditions for an M&A free-for-all.

Take, for instance, Takeda's recent $8.8 billion bid for Millennium. That deal, analysts say, could indicate a run of biotech buyouts. A run was also predicted last year with AstraZeneca's $15.6 billion MedImmune buyout, "[b]ut the wave hasn't come, even though Big Pharma is sitting on a pile of cash and struggling with weak pipelines." While there's no question Big Pharma is snapping up promising developers left and right, even more deals could be on the way.

- see the Seeking Alpha report

Sepracor inks $47M IP licensing deal with Arrow

Thu, 01 May 2008 06:59:55 -0400

Sepracor has struck a licensing deal with Arrow International Limited for the intellectual property rights related to stable sterile steroid suspension formulations and other applicable nebule technology for the use in developing ciclesonide, a corticosteroid. Arrow gets $250,000 on execution of the deal and payments of up to $22.5 million in support of the ciclesonide stand-alone product. In addition, Arrow gets future milestones of up to $25 million in support of Sepracor's planned ciclesonide/BROVANA combination product.

"The identification of technology to enable the successful development of a stable sterile ciclesonide suspension for nebulization has been a priority for Sepracor for our newly attained ciclesonide franchise since only a limited number of approaches can be used," said Mark H.N. Corrigan, M.D., Executive Vice President, Research and Development at Sepracor. "Arrow and its affiliates have significant experience and success in the development of inhalation solution products, particularly with corticosteroids, and we are excited to have in-licensed this technology that should assist us in moving forward two important clinical development programs in our respiratory portfolio, which could provide a significant number of patients with COPD with greater convenience in treating their disease."

- read the release

Biopharma execs sign on to tout UK's R&D work

Mon, 07 Apr 2008 06:59:56 -0400

A high-profile crew of biopharma execs are signing on to help promote the life sciences industry in the UK. Chris Brinsmead, president of AstraZeneca U.K., will chair a 12-man strategy group for UK Trade & Investment to scout overseas markets for the U.K.'s life sciences industry while recruiting overseas investors. The life sciences industry is one of five sectors getting some muscular promotional support. And with the largest pipeline for new products in Europe, the country feels it has plenty to boast about.

"The UK is Europe's top location for research and development and a global hub for scientific research, but retaining this position in the face of growing competition from abroad is a significant challenge," Lord Digby Jones, the UK's trade minister, told The Times.

- read the report from The Times

Related Articles:
Market volatility spurs M&A talks at UK biotechs. Report
U.K. to require more disclosure of drug trial data. Report
U.K. researchers driven out by tough regulations. Report
GSK looks abroad for more scientists as U.K. shortage grows. Report

Can Big Pharma effectively develop new drugs?

Fri, 04 Apr 2008 07:59:57 -0400

When it comes to drug development, is bigger really better? That is the question Borje Eckholm, president and CEO of Investor AB--and one of AstraZeneca's biggest shareholders--poses in the London Times. Big Pharma is under increasing pressure to churn out blockbuster drugs while at the same time control costs, fend off generic competition and create shareholder value. Eckholm thinks the vertically integrated pharma model can't effectively meet all those demands.

"You have to ask yourself: Do you have economies of scale in R&D? It's not clear but one of the fundamental ways that companies create value for shareholders is strong R&D. It raises the question: is big better? Maybe you have to split it up into smaller parts." He suggest that Big Pharma would be better off outsourcing projects to smaller developers who posses the independent spirit needed to discover groundbreaking new drugs.

Some of the industry's biggest players have indicated that reorganization is necessary. Pfizer, for instance, has set up a biotech incubator to foster growth. Meanwhile, AstraZeneca has established a biotech focus, merging purchases Cambridge Antibody Technology (CAT) and MedImmune into one biologics powerhouse. The company also spun off its Swedish R&D facility for gastrointestinal therapies.

- read more in this London Times report

ALSO: Can pharma police its own globalization? Report

Abraxis buys Shimoda, subsidiary

Fri, 04 Apr 2008 07:59:54 -0400

Abraxis BioScience has completed acquisition of South Africa's Shimoda Biotech and its subsidiary, Platco Technologies. Abraxis bought the companies for $15 million up-front, plus potential additional payments upon the achievement of specified milestones. Shimoda is combining off-patent molecules with its drug delivery platform, in order to achieve faster onset and improved bioavailability characteristics of that platform. Platco Technologies focuses on the development of novel platinum-based anti-cancer drugs. Shimoda has one product on the market--Dyloject, an injectable painkiller for the treatment of post-surgical pain.

- here's the release

Related Articles:
Abraxis forges cancer licensing deal with Scripps. Report
Abraxis cleaves company into two new outfits. Report
AstraZeneca, Abraxis ink $200M licensing pact. Report
Abraxis seeks FDA approval. Report

Avanir gets $40 to wrap new Phase III for Zenvia

Thu, 27 Mar 2008 07:59:55 -0400

A group of venture firms led by ProQuest Investors is providing Avanir Pharmaceuticals with $40 million to fund a confirmatory late-stage trial of Zenvia and a full response to the FDA's request for more data. Avanir will issue an aggregate of approximately 35 million shares at a price of $1.14 per share unit--the market closing bid price as of March 26, 2008 plus a nominal amount for warrants--with 35 percent warrant coverage. The warrants, which represent the right to acquire up to approximately 12.2 million shares, are exercisable at 125 percent of the offering price and have a 5-year exercise term.

Avanir has had a hard time developing Zenvia, an experimental drug for involuntary emotional expression disorder. The FDA handed the biotech an approvable letter for the drug in late 2006 which outlined a demand for new data on the drug.

- read the press release

ALSO: Germany's Pieris has raised $38 million in its second round of venture financing led by OrbiMed Advisers. Pieris is developing a novel class of targeted human protein therapeutics. Release

PLUS: Durham, NC-based Scynexis has raised $13.5 million from a group of investors that include a lineup of Big Pharma companies. Report

Related Articles:
Avanir shares soar on positive Zenvia data. Report
CEO heads for exit after Avanir stocks plunge. Report
Avanir pockets $10M with AstraZeneca deal. Report
Avanir slashes jobs, puts Zenvia on ice. Report
Avanir slashes costs as it mulls asset sale. Report

ALSO NOTED: Pfizer's Kindler can't quash mega-deal talk; FDA to review Pegintron;and much more...

Mon, 10 Mar 2008 07:59:50 -0400

> Some Pfizer investors are clamoring again for a big acquisition just days after CEO Jeff Kindler said he wouldn't play Let's Make a Deal. Mega-M&A is just too disruptive, Kindler said at last Wednesday's analyst confab. But a CreditSuisse analyst maintains that "a large scale deal may be the best option" for shoring up the company. Report

> The FDA has delayed an advisory board meeting to review the use of Pegintron for serious skin cancer. Report

> The FDA has approved Spectrum Pharmaceuticals' Levoleucovorin for injection after high-dose methotrexate therapy in patients with osteosarcoma. A supplemental NDA for colorectal cancer is planned for mid-year. Release

> The FDA has approved Auriga Laboratories' Liquadd Oral Solution 5 mg/5 mL for ADHD. Release

> Is it a pre-emptive strike? Late Friday Amgen added new warnings to the embattled anemia drugs Aranesp (Amgen) and Procrit (Johnson & Johnson). Report

> Is Pfizer eyeing Chinese outsourcing? Report

> What does it take to cut a CEO's compensation package by almost 20 percent? Ask David Brennan (photo), head honcho at AstraZeneca. Report

And Finally... Don't drink the water? Prescription drugs are in the water supply of more than two dozen cities, according to an investigation that's sure to catch a lot of attention over the next few days. Report