Pharmion

ALSO NOTED: Genta inks licensing deal on oncology program; Abbott, et al, target Tarceva gene test; Gilead submits marketing ap

Fri, 07 Mar 2008 06:59:50 -0500

> Genta has entered into an exclusive worldwide licensing agreement with Daiichi Sankyo for the development and commercialization of tesetaxel
(formerly known as DJ-927), a late Phase II oncology therapy. Release

> Millipore has inked a deal with Solabia to market materials used in manufacturing biologics. Release

> Abbott Laboratories' molecular diagnostics unit has joined with Genentech, OSI Pharmaceuticals and Roche to develop a gene test for Tarceva. Release

> Gilead Sciences has submitted a Marketing Authorization Application for marketing approval of aztreonam lysine 75 mg powder for nebuliser solution (aztreonam lysine) in the European Union. Release

> Hovione has purchased 75 percent of Hisyn Pharmaceutical, a Chinese plant that manufactures drug substances. Story

> Novartis will use biomarker detection technology developed by Singulex for its drug development work. Report

> Shareholders have approved the sale of Pharmion to Celgene. Release

This week's most popular story: Pfizer snaps up Serenex in buyout. Report

And Finally... Genetic mutations involving insulin-like growth factor explain why short women live longer. Report

ALSO NOTED: BMS hands back drug rights; OncoMethylome in deal with GSK; Celgene shares take a bounce; and much more...

Mon, 26 Nov 2007 06:59:50 -0500

> Bristol-Myers Squibb has returned the rights to vinflunine to Pierre Fabre. The therapy was studied as a treatment for bladder cancer. Release

> Belgium's OncoMethylome Sciences has forged a pact with GlaxoSmithKline to develop DNA methylation biomarkers for use in developing personalized cancer therapies. Release

> Shares of Celgene got a bounce this morning after a Banc of America analyst give a thumb's up to the company's expanded line-up of cancer therapies with its acquisition of Pharmion. Katherine Kim concludes that Revlimid can earn $3.5 billion a year. Report

> Sanofi Pasteur says it's spending about $104 million on a Chinese manufacturing plant in hopes of launching flu shots locally by 2012. Report

> A new regulatory report gives us a peek at the recall of Roche's HIV remedy Viracept--and it's not a pretty picture. Report

> The FDA also plans to review Roche's Tamiflu and GlaxoSmithKline's Relenza at its advisory committee confab Nov. 27-28. At issue: the anti-influenza drugs' potential neurological side effects in kids. Report

The FDA is taking a second look at the safety of three asthma drugs used in kids: GlaxoSmithKline's Serevent and Advair, and Novartis' Foradil. Report

> QRxPharma has begun treating patients as part of the Phase III development program for its lead product candidate Q8003IR, an immediate release dual-opioid pain therapy. Release

> An M.D. and former speaker-on-behalf-of-a-drug tells his story in the New York Times Magazine, and it's an illuminating, behind-the-scenes look at how Dr. Daniel Carlat (photo) became Dr. Drug Rep.

And Finally… In a major study, transcranial magnetic stimulation proved effective in treating major depression. Report

ALSO NOTED: ESC companies unimpressed by latest advance; Delcath shares surge in trial resumption; Pharmion CEO ready to start

Wed, 21 Nov 2007 06:59:50 -0500

> News that scientists had found a way to program skin cells to act like embryonic stem cells has failed to shake the clinical trial plans of the leading developers in the field. Report

> Shares of Delcath Systems surged on the news that the FDA approved resumption of clinical trials of its perfusion delivery technology. Report

> At 44, Pharmion co-founder and CEO Pat Mahaffy says he plans to start a new biotech company after Celgene completes its buyout. Report

> Exelixis has sold an 80 percent stake in Artemis Pharmaceuticals to Taconic Farms for $20 million. Artemis develops and markets genetically engineered mouse models and engineered mouse embryonic stem cells as genetic model systems for use in drug discovery or academic research. Report

> Cerus is spinning off its immunotherapy business. Report

> The FDA has extended its action date on Spectrum Pharmaceuticals' ISO-Vorin or levofolinic acid or LFA for injection NDA by 60 days. Report

And Finally… There's new evidence that the best way to stay mentally tough is to give your brain a regular workout. Release

Celgene goes global with $2.9B Pharmion buyout

Mon, 19 Nov 2007 06:59:58 -0500

Celgene took a big stride toward its goal of becoming a global marketer of blood cancer therapies with the news over the weekend that it is buying Pharmion for $2.9 billion. That buyout amount is 11 times Pharmion's annual revenue and a 46 percent premium for its shares. Pharmion sells Vidaza and Thalomid and has extensive operations in Europe, where Celgene has been particularly interested in expanding. Celgene owns Thalomid and sells the multiple myeloma drug in the U.S. Celgene's lead therapy is Revlimid. The buyout also covers a late-stage therapy for small-cell lung cancer and the mid-stage oncology drug MGCD0103.

"The rationale for the deal is fairly clear," says Celgene CEO Sol Barer. "It's another important step as we evolve to become what we want to become: a global leader in hematology and cancer." Celgene is the seventh largest biotech by sales volume. The deal is expected to close next summer.

- see this release
- read the report on the buyout from TheStreet.com
- and here's the article from Forbes

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Array partners with Celgene, nets $40M upfront. Report
Celgene accelerates program on positive psoriasis data. Report
Pharmion nets cancer therapy in Cabrellis buyout. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report

GPC shares crater on Phase III cancer failure

Wed, 31 Oct 2007 07:59:58 -0400

Germany's GPC Biotech saw its already battered stock price crater this morning after announcing that its experimental prostate cancer drug, satraplatin, failed to help patients live longer in a critical late-stage trial. GPC announced it was cutting its workforce by 15 percent to account for the trial disaster, which sliced 65 percent off of its remaining stock value.

The vultures had already been gathering around satraplatin after GPC and its partner, Pharmion, announced that they were withdrawing their FDA application until survival data was in. The data is also expected to have an impact on their European regulatory filing. In the trial, patients taking the therapy in combination with prednisone lived an average of 61.3 weeks compared to 61.4 weeks for the control group. That kind of survival response would not pass muster with regulators. Researchers say they will evaluate how they plan to proceed with the cancer program.

"We are extremely disappointed with the findings,'' said GPC Chief Executive Officer Bernd Seizinger in an understatement of the week. One analyst noted that the company's business model is somewhat "unclear" after the results were announced.

- see this release from GPC
- here's the report from MarketWatch

Related Articles:
FDA delay forces cutbacks at GPC Biotech. Report
GPC yanks FDA application for satraplatin. Report
FDA questions satraplatin. Report
Shares surge as satraplatin succeeds in Phase III. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report