Wednesday, 20 June 2018 - 13:54
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Companies

Roche acquires full property of Foundation Medicine for $2.4bn

Switzerland-based Roche announced in a press release, before trading started in Europe, that it has completed the acquisition of Foundation Medicine (FD), of which it had acquired a majority stake (57%) over three years ago. Specifically, Roche has paid $2.4bn…

Sanofi transfers infectious disease unit to Evotec

Germany-based Evotec today has announced it has signed an agreement with Sanofi to integrate Sanofi’s infectious disease portfolio, together with 100 employees and €60m, into its organization. The terms of the agreement were already disclosed by the groups in March,…

Valeant’s shares plunge as FDA refuses to approve key treatment

Valeant announced today, before Wall Street opened, that FDA has not approved Duobrii (halobetasol propionate and tazarotene), for the treatment of plaque psoriasis. The refusal is not due to a lack of information or an incomplete application, but only to…

Coca Cola, Nestle and Kraft Heinz in talks with GSK

UK-based The Sunday Telegraph has reported today that The Coca-Cola Company, Kraft Heinz and Nestle have started negotiating with GlaxoSmithKline in order to acquire Horlicks. GSK last March informed the financial community that it was planning to dismiss the Horlicks…

Two biotechs to keep an eye on

Two small biotechs are drawing attention from analysts and investors-Amryt Pharma and Eloxx Pharmaceuticals. Amryt Pharma was established as little as three years ago, but differently from other biotech companies it already has a product on the market, which generates…

Analyzing German’s Merck KGaA oncology pipeline

The Germany-based economic and financial daily Handelsblatt today has published a long and detailed analysis of Merck KGaA’s oncology pipeline. The Darmastadt-based group’s leading product is Bavencio (avelumab), a immunotherapy co-developed with Pfizer through an agreement signed in 2014, which…

Pfizer could seek acquisition in NASH business

Alongside the Health & Biotechnology Summit held in New York last week, rumors were circulated that Pfizer could be seeking to acquire assets in the Non-Alcoholic Steatohepatitis (NASH) business. NASH is nowadays among the most widespread conditions in the US…

NASH sector heats up

Bloomberg yesterday reported that biotech Madrigal Pharmaceuticals  is weighing a sale after some early talks with large pharmaceutical groups. The news has made Madrigal’s shares jump by over 150% in the last month. Madrigal is a biotech based in Pennsylvania,…

First results from GSK’s combo HIV therapy

ViiV, a subsidiary of  GlaxoSmithKline’s having also Pfizer and Shionogi as shareholders, has reported positive early results from the Phase III Gemini-1 and Gemini-2 clinical trials, enrolling 1,400 patients with HIV, treated with a dolutegravir-lamivudine combo therapy for 48 weeks….

Sanofi to sell Recipharm CMO business in UK for GBP54m

France-based Sanofi has sold to Sweden-based Recipharm AB its CMO business in UK, including the Manchester, UK-based Holmes Chapel manufacturing site, focusing on products for the respiratory drug market. The division yielded a revenue of  GBP51m over the last 12…

Here is the salary of pharma CEOs

The pharma sector is probably the one paying CEOs the highest salaries, especially in the US. A recent survey by MyLogIQ has stressed that the average salary of CEOs of S&P 500 firms is $12.1m, that is far below the…

Celgene admits mistake

The Financial Times has published today an article reporting that US biotech Celgene has admitted it submitted at the beginning of the year an inadequate application to FDA for multiple sclerosis treatment Ozanimod. This resulted in the US authority refusing…

Johnson & Johnson receives $2.1bn offer for Lifescan

Johnson & Johnson has announced today after trading had closed that it had received an acquisition offer by private equity Platinum Equity for Lifescan products. Lifescan is the leading brand in the blood sugar meters and Platinum Equity has valued…

New takeover for Recordati: acquires Natural Point

Italian drugmaker Recordati has announced today that it has acquired Natural Point Srl. The acquired company is headquartered in Milan and delivered revenues of €15m in 2017, with €10m EBITDA (66%), by marketing nutraceuticals such as magnesium carbonate and citric acid….

3,000 impending dismissals reported in Novo Nordisk

The Danish economic and financial daily Börsen has published a long article about Novo Nordisk and the rumors that started circulating yesterday, reporting that the company is planning cost cuts that would result in 3,000 dismissals and a downward revision…

Fortive offers $2.8bn for Johnson & Johnson’s ASP unit

US-based Johnson & Johnson has announced that the industrial Fortive Corp Group has submitted a $2.8bn bid–all in cash–to acquire  Advanced Sterilization Products (ASP) unit, which produces solutions to prevent infections in hospitals and other health units. ASP generated sales…

Recordati family reportedly weighing sale of controlling stake

The Recordati family is allegedly weighing a sale of its stake in the Recordati pharmaceutical group–51%–and its most probable buyers are private equities Cinven and Bain Capital.  The family made a first attempt at selling the company to a Chinese…

Mylan’s biosimilar to Neulasta (Amgen) approved

Mylan’s shares (NASDAQ) today rose by over 3% (+8% intraday) as it was announced that FDA had granted approval to the biosimilar to Amgen’s Neulasta.  Neulasta is a $4.53bn-worth (2017) blockbuster for the treatment of infections in cancer patients. The…

Startup CRM Surgical obtains record $100m funding

British startup CRM Surgical has obtained type-B funding over $100m to market surgical robots. Investors include Zhejiang Silk Road Fund, Escala Capital Investments, LGT, Cambridge Innovation Capital and Watrium. The technology developed by CMR Surgical allows to perform simple upper…

Pfizer: another biosimilar granted positive opinion by EMA CHMP

EMA Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion about Trazimera–biosimilar to Roche’s Herceptin (trastuzumab)– recommending a marketing authorization for patients with HER2 breast cancer. Trazimera is the fourth biosimilar by Pfizer to obtain positive…

NTC acquires part of Novartis’ ophthalmic portfolio

Italy-based pharmaceutical group NTC has acquired part of Novartis’ ophthalmic portfolio for the Spanish, Portuguese, Italian and Polish markets. The acquired products include  Colircusi Gentadexa (aminoglycoside), Colircusi Gentamicin and Oftalmolosa Cusi Gentamicina (aminoglycoside), Oftalmolosa Cusi Erythromycin (macrolide), Oftalmolosa Cusi Aureomycin…

Recent progress in oncology

The FT has published today, on the occasion of the ASCO congress opening, a complex report about recent medicine progress in the fight against cancer. The area with most research activity and trials is immunotherapy, which generated sales of $3.2bn…