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GSK Says China Scandal Will Impact Earnings PDF Print E-mail
Saturday, 27 July 2013 16:48

With 18 employees arrested, company says it is cooperating with investigation.

GlaxoSmithKline replaced its general manager for China and warned investors to expect an unspecified impact on earnings as Chinese officials continue to investigate allegations that employees of the drug giant engaged in bribery and tax-related crimes there.

Industry Groups Outline Principles for Transparency PDF Print E-mail
Saturday, 27 July 2013 16:31

Advocates of clinical trials data sharing blast proposal as “window dressing.”

The leading pharmaceutical industry trade groups in the United States and Europe have issued a set of principles for clinical trial data sharing in an effort to craft an alternative to European regulator’s efforts to make the information more freely available.

GSK Reaches $229 Million Settlment with Eight States PDF Print E-mail
Saturday, 27 July 2013 16:26

The weekly round-up of failed trials, missed targets, and other business mishaps.

GlaxoSmithKline said it has reached settlements in principle with the Attorneys General of eight states to pay $229 million to resolve lawsuits relating to the development and marketing of its diabetes drug Avandia, as well as a separate action brought by the state of Louisiana relating to other products. The company announced the settlements within its second quarter earnings report. It said the amount of the settlements is within existing provisions for its outstanding legal disputes.

Gene Therapy Startup Audentes Therapeutics Raises $30M PDF Print E-mail
Saturday, 20 July 2013 23:24

Biotech is focused on treatments for rare but debilitating muscle diseases.

Audentes Therapeutics has raised $30 million in a series A financing round to develop gene therapies to treat rare muscle diseases.

Researchers Gain Understanding of Obesity Gene PDF Print E-mail
Saturday, 20 July 2013 23:18

One mutation affects both food intake and feeling of satisfaction after eating.

Researchers have connected the dots between a genetic mutation associated with obesity and a hormone known to control appetite that may add to our knowledge of how we perceive food and how we might treat obesity through drugs that target the hormone ghrelin.

Ayasdi Raises $30.6 million for Big Data Platform PDF Print E-mail
Saturday, 20 July 2013 23:10

Funding will be used to speed the discovery of insights from complex information in seconds.

Startup Ayasdi has raised $30.6 million in a series B venture financing to refine and expand its big data platform to sectors beyond life sciences and the defense industries.

Avastin As Good As Lucentis for Wet AMD at a Tenth of the Price PDF Print E-mail
Saturday, 20 July 2013 23:02

Researchers say UK’s National Health Service could save $129 million a year from switching. 

The National Health Service could save $129 million a year by using Avastin instead of Lucentis as a treatment for wet age-related macular degeneration, a leading cause of blindness in older adults, according to researchers who found the two drugs equally effective at treating the eye disease. 

Crescendo Personalizes Rheumatoid Arthritis Disease Management PDF Print E-mail
Saturday, 13 July 2013 23:00

Though the advent of personalized medicine and the changing way doctors treat and manage disease has been most apparent in the area of cancer, new molecular diagnostics are transforming care in many other disease areas. Crescendo Bioscience’s Vectra DA test for rheumatoid arthritis is one such example. We spoke to Crescendo CEO Bill Hagstrom about the test, how it’s changing the way physicians manage and treat RA patients, and how the company has addressed the challenges of adoption and reimbursement.

Loxo Oncology Strikes $434 M Cancer Deal with Array BioPharma PDF Print E-mail
Saturday, 13 July 2013 22:55

Collaboration focuses on small molecule therapies for genetically defined patient populations.

In a reversal of the standard story of a big company licensing a compound from a small company, newly formed Loxo Oncology is teaming up with Array BioPharma in deal that could be worth up to $434 million for Array.

Senate Seeks to Grow NIH Budget for Fiscal 2014 PDF Print E-mail
Saturday, 13 July 2013 22:47

Expanded spending plan could ease some sequester-driven cuts.

The National Institutes of Health could see sequester-driven budget cuts reversed and funding for medical research increased under a fiscal 2014 budget approved by a U.S Senate committee.

Researchers Identify New Drug Target for Parkinson’s Disease PDF Print E-mail
Saturday, 27 July 2013 16:44

Cell survival protein implicated in blood cell cancer also plays a role in neurons.

Researchers at The Scripps Research Institute have identified a possible cause of Parkinson’s disease, a finding that could lead to therapies to treat or prevent the disease.

Five Biotech IPOs Debut in Busy Week PDF Print E-mail
Saturday, 27 July 2013 16:29

Total of 20 initial public offerings in the sector completed in past three months.

Five biotech companies completed initial public offerings during the week of July 22, raising the total number of IPOs in the sector during the past three months to 20, and the year-to-date total to 29.

Symplmed Sees Value in Being Direct PDF Print E-mail
Saturday, 20 July 2013 23:28

Symplmed, a spin out of the biotech Xoma, is trying to radically alter the business model for pharmaceutical companies. What makes the company compelling is not its products, but the way it’s selling them. Symplmed is using technology to change the way drugs are marketed and the way drugmakers interact with patients, providers, and payers. We spoke to Erik Emerson, president and CEO of Symplmed about the company’s approach, what’s wrong with the way drugs are sold today, and the opportunities for drugmakers to provide greater value than their medications alone.



Biotech Sizzles in Public Markets PDF Print E-mail
Saturday, 20 July 2013 23:22

Investors flock not only to IPOs, but to follow-on offerings as well.

While there has been a lot of attention focused on the hot market for biotech IPOs, follow-on offerings by U.S. biotech companies are also sizzling—up more than 70 percent this year—as the sector continues to outperform the broader market.

Biohackers Find a New Home in Carlsbad PDF Print E-mail
Saturday, 20 July 2013 23:14

City hopes to fuel job growth by tapping into citizen scientists.

Kevin Lustig, one of the founders of Bio, Tech and Beyond, a just christened non-profit incubator in Carlsbad, California aimed at providing laboratory space for a new breed of citizen scientists, says its motto captures the essence of his group’s effort: “Probably crazy, possibly brilliant.”

National Cancer Institute Opens Database of Genetic Variation of Cancer PDF Print E-mail
Saturday, 20 July 2013 23:06

Catalog is largest of its kind and expected to help researchers understand drug response and resistance.

The National Cancer Institute is making available a database of the genetic variation of cancer—the largest of its kind—to help researchers understand how to better tailor drugs to treat specific forms of the disease.

National Institute of Health Cancels Clinical Trials in India PDF Print E-mail
Saturday, 20 July 2013 22:56

The weekly round-up of failed trials, missed targets, and other business mishaps.

Numerous clinical trials in India have been cancelled due to an unstable regulatory environment leaving the $500 million industry functioning at one-fifth of its capacity. India’s health ministry recently amended its Drugs and Cosmetics Act with new provisions for regulation and ethical supervision of trials, compensation of trial subjects, and mandatory accreditation of all stakeholders including institutional review boards, research institutions, sponsors and contract research organizations. This prompted clinical trial sponsors, including the U.S. National Institutes of Health, to cancel trials and move them to Malaysia and Canada.

Bio-based Industries to Get $5 Billion Boost from European Commission PDF Print E-mail
Saturday, 13 July 2013 22:58

EU Initiative is part of $28.7 billion investment to create high-tech jobs and growth over next seven years.

The European Commission has announced the formation of a public-private partnership worth almost $5 billion (€3.8 billion) over seven years to boost growth and jobs in the European bio-based industrial sector.

Fighting the Flu without Vaccines PDF Print E-mail
Saturday, 13 July 2013 22:51

Systems biology approach points to drug targets for influenza.

Researchers at Seattle BioMed, together with collaborators at the University of California, San Diego School of Medicine, St. Jude Children’s Research Hospital, and the University of Washington have found a new potential target for drug development in the fight against flu.

Italian Pharma Backs UniQure’s Gene Therapy PDF Print E-mail
Saturday, 13 July 2013 22:42

Rights deal will cover Glybera development costs, fuel progress on pipeline.

UniQure says it has signed two new collaboration agreements with Chiesi Farmaceutici for the commercialization of Glybera, the first gene therapy to receive regulatory approval in Europe, as well as the co-development of a gene therapy for hemophilia B.

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