Baxter International

Limerick raises $15M; Icahn offered $15B for Biogen; Neogen expands R&D

John Carroll — Thu, 12 Jun 2008 10:27:38 -0400

> Limerick BioPharma has ginned $11 million in venture funds and borrowed $4 million more to advance its work on the bioavailability of drugs. Arch Venture Partners, Sevin Rosen Funds and Altitude Funds are all listed as investors. Report

> Researchers have presented new data backing Cimzia over competitors for the rheumatoid arthritis category. Report

> Carl Icahn offered to pay up to $15 billion for Biogen Idec last October. Report

> Idenix reported positive phase I/II data on IDX899, which is being developed to treat HIV-1. Report

> Neogen says it intends to double its research and development efforts for its new fiscal year by hiring 23 additional R&D personnel by early fall. Neogen release

> Opexa Therapeutics announced favorable safety and efficacy data for Tovaxin, a T-cell vaccination therapy for multiple sclerosis, in the second year of open-label clinical re-treatment studies in patients with MS. Opexa release

> OPKO Health has acquired exclusive worldwide rights in the field of ophthalmology to a novel small molecule agent in Phase II clinical development for the treatment of viral conjunctivitis and other viral infections. OPKO release

> Vical has received $6.3 million from AnGes under a previously announced collaborative agreement for continued funding of the company's ongoing Allovectin-7 Phase III metastatic melanoma trial. Vical release

> Cell Therapeutics has sold $23 million in senior convertible notes. Report

And Finally... Baxter International says that a human trial of its Celvapan bird flu vaccine demonstrated that it spurred an immune response against three strains of the lethal virus. This is the first time that researchers have developed a flu vaccine using a virus grown in cell cultures rather than eggs. Vaccine report

SPOTLIGHT: Baxter touts Alzheimer's data

Fri, 18 Apr 2008 06:59:53 -0400

Baxter International's Gammagard intravenous plasma-based treatment demonstrated an ability to improve the mental functions of patients with mild moderate Alzheimer's in a small trial. The trial hit its primary goals in a six-month study involving 24 patients. Secondary endpoints relating to beta-amyloid and anti- amyloid antibody levels were also hit. Recruitment for Phase III begins later in the year. Release

ALSO NOTED: Shasun sets up NJ plant; Barrier gets a new CEO; Pharming gains grant; and much more...

Mon, 28 Jan 2008 06:59:50 -0500

> India's Shasun Chemicals has set up a processing unit for active pharmaceutical ingredients in New Jersey to supply U.S. customers. Report

> Chutes & Ladders: The chief operating officer of Barrier Therapeutics, Alfred Altomari, has been named CEO, succeeding Geert Cauwenbergh. Report

> Pharming has received a grant of €905,000 to research premature aging. Report

> German regulators have cleared Celgene's takeover of Pharmion. Release

> More than 100 allergic reactions, including one possible death, prompted Baxter International to recall its anti-clotting drug heparin. Report

> It's official: Merck's off-patent statin drug Mevacor can't go over-the-counter. Report

> The FDA has plans to review the controversial Enhance study. Report

> Is pharma addicted to producing blockbuster drugs? Report

And Finally… Opening up gorilla and chimpanzee reserves to tourists is raising fears that the animals will become infected by virulent human viruses. Release

ALSO NOTED: Osiris inks $224M contract; Baxter and Nektar to collaborate;and much more...

Mon, 07 Jan 2008 06:59:50 -0500

> Osiris Therapeutics has inked a deal with the U.S. Defense Department to supply a potential $224 million worth of Prochymal for use in treating military personnel exposed to radiation. Release

> Osiris also regained all worldwide rights to Prochymal. Release

> Baxter International and Nektar Therapeutics are teaming up to investigate new therapies for a rare form of hemophilia. Report

> BrainStorm Cell Therapeutics has expanded its collaboration with Rutgers University aimed at curing spinal cord injuries through adult stem cell research. Release

> Jazz Pharmaceuticals has received orphan drug designation for an experimental epilepsy therapy. Report

> Waltham, MA-based Magen BioSciences has acquired the rights to dermatology compounds from Eli Lilly. Report

> Making a living off pharmaceutical companies suddenly isn't so lucrative: IMS Health, the market research company responsible for so much of the hard data on drug sales, is laying off about 10 percent of its work force. Report

> Celgene announced that it expects fiscal 2007 profits to double to $1.05 per share, as sales of its cancer drug Revlimid skyrocket. Report

> As if Amgen didn't have enough to worry about with its anemia drugs under fire. The company is defending itself against charges of bull-whipping sales reps into marketing drugs off label and violating patients' privacy. Report

And Finally... A pharma nightmare with an English accent: The UK government wants to slash prices for prescription drugs by 10 percent. Report

ALSO NOTED: FDA says no to Indevus; Nektar gets sweetened deal with Baxter; Akela pulls public offering; and much more...

Thu, 20 Dec 2007 06:59:50 -0500

> Indevus Pharmaceuticals says that the FDA has turned thumbs down on its new therapy for bladder cancer, a move that trimmed its stock value. Valstar was pulled from the market five years ago after an unstable ingredient was found in its original formulation. Indevus says that issue has been fixed, but regulators rejected its marketing application due to chemistry and manufacturing concerns. Deficiencies had been noted at a third-party manufacturing facility slated to make the drug. The company says it can sort out those problems in months and plans a new application with a request for a new inspection of the unnamed facility. Indevus obtained Valstar when it bought out Valera Pharmaceuticals earlier this year. Release

> Nektar Therapeutics has sweetened its deal with Baxter International to develop improved therapies for hemophilia. Under a pact extension, Nektar will be able to earn up to $44 million in upfront fees and milestones for its work on pegylated forms of hemophilia drugs. The new collaboration is an extension of a deal the two companies forged in 2005. Release

> Akela Pharma has become the latest biotech victim of a chilly market environment, abandoning its U.S. public offering as it explores alternative financing sources. Release

> Ligand Pharmaceuticals picked up a million-dollar milestone on Glaxo's submission of an NDA for Promacta. Release

> Vertex Pharmaceuticals is pondering the idea of consolidating its scattered operations in Cambridge into an office tower on the South Boston Waterfront. Report

> Novavax announced favorable interim results from a Phase I/IIa human clinical trial of its non-adjuvanted pandemic influenza virus-like particle vaccine candidate. Release

> Forbes Medi-Tech is asking shareholders to approve a reorganization that will allow it to undertake new financing options. Release

> Akers Biosciences chairman David Wilbraham has converted fees into 61,017 shares in the company. Report

> There's nothing like a whistleblower lawsuit to get a company riled. A former Pfizer exec has accused the company of using continuing medical education as stealth marketing for its cholesterol drug Lipitor. Report

> A copycat of Wyeth's Effexor XR could cut $500M off the company's sales. Report

> Now here's an op-ed Big Pharma can unite behind. In the Baltimore Sun, journalist and patient Naomi Wax assails the FDA for calling generic drugs exactly equivalent to their brand-name counterparts. Report

And Finally… Scientists have advanced a new nanotech process to engineer replacement blood vessels. Release

SPOTLIGHT: Baxter bullish on Gammagard

Wed, 29 Aug 2007 06:59:53 -0400

Baxter International says that a preliminary analysis of data from a Phase II study of Gammagard for Alzheimer's has produced enough encouraging signs to lay the groundwork for Phase III. The next study should get underway in early 2008. Release