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Lundbeck makes $200M down payment in blockbuster CNS drug pact with Otsuka PDF Print E-mail
Saturday, 12 November 2011 06:08

Danish drugmaker Lundbeck and Japanese drug giant Otsuka have joined forces for a pact that makes the two companies major partners in the global market for drugs against diseases of the central nervous system. Both companies now have a lot riding on developmental CNS drugs in the deal as each company's best-selling drugs face generic competition in the coming years.

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Ablynx Signs Discovery Pact Worth $69 Million With Merck Serono PDF Print E-mail
Thursday, 10 November 2011 06:12

GHENT, BELGIUM--(Marketwire - November 09, 2011) - Ablynx [Euronext Brussels: ABLX] today announced that it has further expanded its relationship with Merck Serono, a division of Merck KGaA, Darmstadt, Germany, and entered into a third agreement to co-discover and co-develop Nanobodies(®) against two targets in osteoarthritis. The companies will exploit the unique Nanobody features and will develop multi-specific products, which have extended half-lives.

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Myriad's Q1 Revenues Jump 20 Percent PDF Print E-mail
Thursday, 03 November 2011 07:27
Myriad Genetics reported after the close of the market Tuesday that its first-quarter 2012 revenues increased 20 percent, as it beat Wall Street estimates on both the top and bottom line.

The Salt Lake City-based molecular diagnostics firm brought in total revenues of $110.5 million for the three months ended Sept. 30, up from $91.9 million for the first quarter of 2011. Analysts had expected revenues of $106.5 million for the quarter.

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SurModics Inc. (SRDX) Sells Pharmaceutical Unit to Evonik Industries for $30 Million Cash PDF Print E-mail
Thursday, 03 November 2011 07:11
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- SurModics, Inc. (Nasdaq:SRDX - News), a leading provider of surface modification technologies to the healthcare industry, announced today that it has entered into a definitive agreement to sell its SurModics Pharmaceuticals assets to Evonik Industries AG (“Evonik”) for $30 million in cash. Under the Asset Purchase Agreement, the entire portfolio of products and services of SurModics Pharmaceuticals, including the Company’s cGMP development and manufacturing facility located in Birmingham, Alabama, will be acquired by Evonik. This grants Evonik ownership of SurModics’ parenteral dosage technology platforms and services and bioresorbable lactide-glycolide polymers business.
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GSK sets stage for big late-stage drug events, potential blockbusters PDF Print E-mail
Wednesday, 02 November 2011 06:49

GlaxoSmithKline ($GSK) has taken some bold steps to reconfigure its R&D operations, tackling some of the productivity issues that have plagued Big Pharma groups. Over the next year, the London-based drug giant has many big Phase III events in store that could make its pipeline the envy of the industry.

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Nephron Pharmaceuticals Plans $313 Million Expansion; Will Create 700+ New Jobs PDF Print E-mail
Sunday, 30 October 2011 22:53
ORLANDO, FL – October 28, 2011 – Nephron Pharmaceuticals Corporation today announced expansion plans that involve constructing new pharmaceutical operations in Lexington County, SC. The planned $313 million investment is expected to generate 707 new jobs. The new
pharmaceutical campus will be located a few miles outside of Columbia, SC along Interstates 26 and 77.
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Biogen Idec, Inc. (Massachusetts), Portola Pharmaceuticals, Inc. Strike $553 Million Deal for Oral Syk Inhibitor PDF Print E-mail
Friday, 28 October 2011 06:24
WESTON, Mass. & SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Biogen Idec (NASDAQ:BIIB - News) and Portola Pharmaceuticals, Inc. today announced that they have entered into an exclusive, worldwide collaboration and license agreement under which both companies will develop and commercialize highly selective, novel oral Syk inhibitors for the treatment of various autoimmune and inflammatory diseases, including rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE).
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UCSF-Pfizer partnership yields projects aimed at clinical trials PDF Print E-mail
Friday, 28 October 2011 00:37

An 11-month-old partnership between UCSF and Pfizer, Inc., aimed at rapidly moving new therapies into human clinical trials, has selected its first projects for funding and joint development. Teams from the University and Pfizer will work together on experimental therapies developed by the UCSF scientists with a goal of testing them in people with five hard-to-treat, often deadly conditions, including lung and prostate cancer.

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Illumina to Cut 200 Jobs from Global Workforce PDF Print E-mail
Wednesday, 26 October 2011 19:34
Following yesterday's announcement that its third-quarter revenues fell 1 percent and that it would undertake a restructuring, Illumina filed a document with the US Securities and Exchange Commission disclosing that it will cut 200 jobs from its global workforce.
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Eli Lilly and Company to Withdraw Xigris From Market Worldwide PDF Print E-mail
Tuesday, 25 October 2011 06:45
OTTAWA, ONTARIO, Oct 25, 2011 (MARKETWIRE via COMTEX) -- Health Canada is informing Canadians that it is working with Eli Lilly Canada, Inc. to withdraw the drug Xigris (drotrecogin alfa) from the Canadian market, in light of the company's decision to withdraw Xigris from the market worldwide.
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Salix Pharmaceuticals, Ltd. to Acquire Oceana Therapeutics for $300 Million PDF Print E-mail
Thursday, 10 November 2011 06:20
EDISON, N.J.--(BUSINESS WIRE)--Oceana Therapeutics LLC, a privately owned global company focused on commercializing best-in-class specialty therapeutics, today announced it has entered into a definitive agreement for the sale of its operating subsidiary, Oceana Therapeutics, Inc. to Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) of Raleigh, NC. The all cash transaction valued at $300 million has been approved by the Board of Directors of each company and is subject to routine closing conditions, including Hart-Scott-Rodino antitrust approval, and is expected to close before year-end 2011.
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Mylan Inc. to Buy Respiratory Products from Pfizer Inc. for $17.5 Million, Will Hire Former Pfizer Employees to Meet Needs of New Division PDF Print E-mail
Thursday, 10 November 2011 05:47
Mylan Inc. (Nasdaq: MYL) today announced that it has entered into an agreement with Pfizer for the exclusive worldwide rights to develop, manufacture and commercialize Pfizer's generic equivalent to GlaxoSmithKline's Advair® Diskus and Seretide® Diskus incorporating Pfizer's proprietary dry powder inhaler delivery platform. Advair® Diskus and Seretide® Diskus are inhaled fixed-dose combinations of Fluticasone Propionate and Salmeterol delivered via a dry powder inhaler and are used to treat asthma and COPD (chronic obstructive pulmonary disorder).
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Sanofi To Layoff Hundreds In Sales And R&D PDF Print E-mail
Thursday, 03 November 2011 07:17
http://en.sanofi.com/images/template/logo.jpgIn the aftermath of the Genzyme acquisition, Sanofi told employees this morning about plans to shift various R&D operations between New Jersey and Massachusetts, as well as scaling back the sales force, primarily in the cardiovascular and oncology groups. All told, hundreds of jobs will be eliminated, although a spokesman was unable to specify the actual number until more details are sorted out.
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Pfizer May Offer Over-the-Counter Lipitor PDF Print E-mail
Wednesday, 02 November 2011 06:53

Pfizer Inc. (PFE) will try to introduce a nonprescription form of top-seller Lipitor to help cushion tumbling sales of the cholesterol pill as generic versions reach the market, Chief Executive Officer Ian Read said.

Lipitor, which is Pfizer’s biggest product, loses U.S. patent protection on Nov. 30. The New York-based company is looking for ways to replace its $10.7 billion in annual revenue as cheaper copies drive down prices.

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Pharmasset shares continue rise on PhIII plan for interferon-free PSI-7977 PDF Print E-mail
Wednesday, 02 November 2011 06:38

Shares of Pharmasset continued their meteoric rise yesterday as investors warmed to the news that the biotech has mapped out its march through the clinic to a new, interferon-free hep C treatment application. Pharmasset launched a late-stage study combining its lead treatment, PSI-7977, with ribavirin to see how the combo fares against a regimen of ribavirin and interferon. And the biotech ($VRUS) has whipped up a slate of late-stage trials for PSI-7977, a darling of the investment community, which clearly comprehends the blockbuster market that awaits any hepatitis C treatment that doesn't require injections of interferon.

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Vertex Flips Into the Black for First Time, as Hepatitis C Drug Beats Expectations Again PDF Print E-mail
Sunday, 30 October 2011 22:34

http://www.xconomy.com/wordpress/wp-content/images/2010/08/VertexPharma-180x110.pngVertex Pharmaceuticals has tallied up an amazing amount of red ink in its 22-year history, but now it can say that all those long R&D years have created a profitable business.

The Cambridge, MA-based biotech company (NASDAQ: VRTX) said today that it generated $659 million in total revenues, and turned a profit of $221 million ($1.02 a share) in the third quarter that ended Sept. 30. Once before, the company had a quarterly profit in the 1990s from a one-time milestone payment, but this is the first time in Vertex’s history that it has generated a quarterly profit from its own product sales, says company spokeswoman Megan Pace. Vertex reached this point after ringing up an accumulated $3.8 billion deficit through mid-2011, according to its most recent quarterly report.

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ViroPharma Incorporated to Acquire DuoCort AB in $164.6 Million Deal PDF Print E-mail
Friday, 28 October 2011 06:21
EXTON, Pa., Oct. 27, 2011 /PRNewswire/ -- ViroPharma Incorporated (NASDAQ: VPHM) today announced that it has signed a definitive agreement to acquire DuoCort Pharma AB, a private company based in Helsingborg, Sweden focused on improving glucocorticoid replacement therapy. The acquisition of DuoCort Pharma AB will further expand ViroPharma's orphan disease commercial product pipeline. The company intends to discuss this acquisition on its third quarter financial results conference call this morning.
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Life Tech Inks CDx Deal with GlaxoSmithKline; Gets China OK for 3500 Dx Genetic Analyzers PDF Print E-mail
Wednesday, 26 October 2011 20:01
Life Technologies has forged a partnership with GlaxoSmithKline Biologicals to develop a companion diagnostic test for GSK's candidate cancer immunotherapy, and gained regulatory approval in China for its Applied Biosystems 3500 Dx/3500xL Dx Genetic Analyzer, it announced separately after the close of the market on Tuesday.
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Novartis to Cut 2,000 Swiss, U.S. Jobs, Add Positions in China PDF Print E-mail
Tuesday, 25 October 2011 06:56

Oct. 25 (Bloomberg) -- Novartis AG, Europe's second-biggest pharmaceutical company, plans to eliminate 2,000 jobs in Switzerland and the U.S. and add employees in China and India to offset the effect of drug-price reductions.

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WuXi PharmaTech Acquires China-Based Clinical Research Services Companies PDF Print E-mail
Tuesday, 25 October 2011 05:07

SHANGHAI, October 24, 2011 /PRNewswire via COMTEX/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology and medical device research and development services company with operations in China and the United States, today announced the acquisition of MedKey Med-Tech Development Co. Ltd. and Jiecheng Med-Tech Development Co. Ltd., two related contract clinical research services companies based in Shanghai, China. The financial terms of the transaction were not disclosed.

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