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Tuesday, 16 October 2018 - 20:30

Companies

Allergan sells Rhofade for €65m

US-based Aclaris Therapeutics (Pennsylvania) has acquired global rights to Allergan’s Rhofade. The drug is a cutaneous therapy for the treatment of cutaneous facial erythema, which in 2011 was  included into Allergan’s portfolio following the acquisition of Vicept Therapeutics. (Source: Aclaris)

Bayer considering sale of Animal Health business (€6-7bn)

Werner Baumann, CEO of Germany-based group Bayer, has told in an interview that his company’s management is assessing a sale of the Animal Health division. The segment last year delivered €1.6bn, with a 24% EBITDA. The sale might fetch Bayer…

Stada and Mylan targeting Bristol-Myers Squibb’s Upsa (€1bn)

Germany-based generics producer Stada is reportedly targeting French OTC manufacturer Upsa, owned by Bristol-Myers Squibb. The news has been reported by Reuters, according to which Mylan and France-based Pierre Fabre are targeting the company too. Upsa has 1,500 employees and…

Agreement on combo immunotherapy between Bristol-Myers Squibb and Compugen

US-based multinational Bristol-Myers Squibb (BMS) yesterday announced it plans to invest $12m in shares of the Israel-based biotech Compugen, in order to fund the clinical trials of investigational drug COM701, which will be tested in combination with immunotherapy Opdivo. Through…

Allogene’s debut beyond expectations

US-based biotech Allogene yesterday made its stock exchange debut (Nasdaq) and its shares were up over 43% in the first trading day, taking capitalization to $324m (corresponding to a diluted market value? of $22bn). The company was established by scientists…

Historic Otsuka-Proteus agreement on new drugs with sensor ($700m)

Historic agreement between Japan-based group Otsuka and Proteus Digital Health: the deal aims to extend the existing collaboration, which has already led to the FDA approval of Abilify Mycite–that is Otsuka Pharmaceutical’s antipsychotic drug Abilify (aripiprazole), including a sensor that…

Breathtec acquires Nash Pharmaceuticals

Canada-based group Breathtec Biomedical has announced it has acquired Nash Pharmaceuticals, another Canadian company with a pipeline of products still undergoing clinical trials in patients with Non-Alcoholic Steatohepatitis (NASH). NASH is a pathology spreading at an increasing rate, especially in the…

Novartis introduces therapy arsenal for multiple sclerosis

Novartis has introduced today at the Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS), currently being held in Berlin, data related to a clinical trial assessing Gilenya (fingolimod), an oral therapy for MS, in addition…

Positive rating for Teva group

Teva’s shares have declined 12% from their high set in September, probably reflecting the approval of the new Eli Lilly’s migraine drug, that will be a direct competitor to Teva’s Ajovy. Despite this, Goldman Sachs’ analysts remain highly positive about…

Alibaba and JD.com start selling prescription drugs on the net

Over ten thousand drugs requiring medical prescription by law are now available on Alibaba and JD.com without any need for prescription. The two companies have gained access to the high-margin drugs business by simply putting sellers in contact with customers–this…

GSK announces new spate of job cuts

GlaxoSmithKline has announced it plans to downsize its Sterile Injectables division, a move that will drastically reduce the workforce in Ulverston site (UK), that focuses on sterile liquids. Ulverston employs 347 people, 191 of which will lose their jobs starting…

Green light to Bluebird’s gene therapy in Europe

Biotech Bluebird has announced today that EMA has accepted the Marketing Authorization Application (MAA) for its LentiGlobin-based  investigational treatment of adolescents and adults with transfusion-dependent β-thalassemia (TDT) and a non-β0/β0 genotype. The authorization reflects the excellent clinical data delivered by…

First assessment of Ian Read’s work, Pfizer outgoing CEO

Pharma giant Pfizer on Monday announced that Ian Read, CEO for 8 years, is stepping down in favor of Pfizer’s current COO Albert Bourla, a Greek veteran in the company for 25 years. Ian Read, born in 1953, is an…

Recordati seeks to obtain €500m line of credit for new acquisitions

Italian economic-financial daily Il Sole 24 Ore has reported that drugmaker Recordati, recently acquired by private equity CVC, is seeking to obtain from banks–especially Intesa SanPaolo–a loan of approximately €500m to be used for acquisitions abroad. (Source: Il Sole 24…

Brazil’s EMS seeking to acquire Teva’s Medis

The Brazilian daily O Estado de Sao Paolo has reported today that the local generics manufacturer EMS is targeting Teva’s division Medis, headquartered in Island, that produces generic drugs. EMS is already in talks with banks to obtain a $900m…

Bausch Health announces good Phase III results from psoriasis therapy

Bausch Health–formerly known as Valeant–yesterday reported on a press release that the Journal of Drugs in Dermatology has published results from as many as two Phase III clinical trials, assessing corticosteroid Bryhali (halobetasol propionate) Lotion, 0.01% in patients with psoriasis….

Novo Nordisk announces new spate of job cuts

Denmark-based  Novo Nordisk will cut 250 jobs in the US. The news was announced on Friday evening after trading closed and will affect 100 employees at Princeton premises (NJ) and 150 employees working in the diabetes area with support tasks….

Swiss executives earn highest salaries in Europe

The Swiss economic daily Basler Zeitung has published a long article analyzing the salaries of Swiss corporations’ senior executives, comparing them to those of other European managers. Results show that Switzerland is the country paying managers the highest salaries. CEOs…

Roche strengthens oncology division by acquiring Tusk for €655m

Roche has acquired Belgian biotech Tusk Therapeutics, paid €655m. Tusk has developed its own CAR-T therapy with specific anticarcinogenic properties, which will be developed through clinical trials not sooner than 2019. Tusk was established in 2014 by Droia Oncology Ventures,…

Vas Narasimhan, Novartis CEO, explains reasons behind 2,100 jobs cut

Novartis new CEO Vas Narasimhan has given a long interview to the Swiss daily Basler Zeitung today. The interview has been almost entirely focused on the cut of approximately 2,100 jobs, announced by the Swiss multinational’s management two days ago….

Novartis announces huge staff cut in Europe

Novartis has announced today the strategic decision that many employees were waiting for and dreading. The Basel-based group has disclosed it plans to cut at least 1,700 jobs in Switzerland and to close down its Grimsby (UK) site, where 395…

Pascal Soriot voices disappointment over his pay package

AstraZeneca CEO Pascal Soriot 4 years ago achieved to convince the company’s shareholders and the British government to decline Pfizer’s  acquisition bid, worth $118bn. At that time, Soriot ensured financial return and job protection levels that Pfizer wasn’t able to…

Gilead makes brave decision: announces launch of generics to Harvoni and Epclusa

Gilead Sciences has announced it has created the subsidiary Asegua Therapeutics LLC, a company that will distribute generics–specifically  Epclusa (sofosbuvir 400mg/velpatasvir 100mg) and Harvoni (ledipasvir 90mg/sofosbuvir 400mg). The two drugs are the group’s blockbusters for hepatitis C, and their sales…

New therapies preventing migraine episodes to be launched

US-based drugmaker Eli Lilly & Co. on Friday announced that EMA has recommended the marketing approval in Europe for its monoclonal antibody Emgality (galcanezumab). Emgality has already been granted conditional approval in the US by FDA. It is part of…

Medtronic acquires Israel-based Mazor Robotics for $1.64bn

  The large medical device producer Medtronic has acquired Israel-based Mazor Robotics for $1.64bn. The deal strengthens Medtronic’s spinal surgery portfolio. The two companies had already been partners since 2016 when they entered the agreement, which entitles Medtronic to be…