Newsletter - GoINPHARMA
Monday, 22 October 2018 - 8:58

Newsletter

Novartis in constant evolution: new large investment in startup

Israel-based Gamida Cell Ltd is ready for Nasdaq IPO. The young biotech has developed novel, nicotinamide-based cell therapies, the most relevant of which is NiCord, for patients with serious hematologic diseases that need hematopoietic stem cell transplant (HSCT). NiCord is…

Amgen becomes shareholder of Oxford Nanopore (DNA sequencers)

US-based biotech group Amgen has announced a GBP50m equity investment in Britain-based Oxford Nanopore, manufacturing DNA sequencers. Amgen’s move aligns with its focus on using human genetics to research for new therapies addressing some major diseases. Indeed, Amgen already has…

Pfizer prepares to announce 1,800 cuts worldwide

  Pfizer plans to reduce its workforce by 2% next year, which corresponds to approximately 1,800 layoffs and pre-retirements globally. According to many analysts, this is the first move by new CEO Albert Bourla, who will come into office on…

M&A splash for Novartis: announced acquisition of Endocyte for $2.1bn

Novartis today announced, before trading opened, that it has acquired the US-based biotech Endocyte for $2.1bn. Novartis has valued the company at $24 per share, that is a 54% premium over yesterday’s closing price. Endocyte is focusing on Precision Medicine,…

How AbbVie protects Humira from biosimilars

Sandoz-Novartis some days ago announced it had reached an agreement with US-based AbbVie. As a result, the launch of Hyrimoz (adalimumab), the biosimilar to blockbuster Humira (adalimumab) was postponed to September 2023. Additionally, the agreement will allow Sandoz to start…

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…

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…

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…

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….

WHO report about alcohol use and alcoholism

  The World Health Organization (WHO) has published a long and detailed report about the spread and effects on society of alcohol beverages. Over 3 million people died due to excessive alcohol use in 2016 , which corresponds to 5%…

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…

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…