Article Listing - Burroughs Wellcome Outlook Reviewed
Perrigo acquires ophthalmic portfolio from Fera Pharma for initial $93 million
18 June 2013
Generic drugmaker Perrigo (NYSE: PRGO) says it has signed a definitive agreement to acquire and has completed the acquisition of an ophthalmic sterile ointment and solution Abbreviated New Drug Application product portfolio from fellow USA-based privately held Fera Pharmaceuticals.
Royalty Pharma hostile bid lapses as Elan shareholders vote for share repurchase but not Theravance, AOP or ELND005 deals
17 June 2013
At the company's Extraordinary General Meeting held earlier today (June 17), shareholders of Ireland-based drugmaker Elan Corp (NYSE:ELN) approved the planned $200 million share repurchase program. However, they did not approve the $1 billion royalty deal with Theravance, the $340 million AOP Orphan acquisition or the ELND005 transaction (The Pharma Letters passim). Importantly, under the conditions of Royalty Pharma's increased hostile takeover terms, as shareholders voted to approve even one of the transactions, the US private equity firm's $6.7 billion offer has now lapsed (been withdrawn), unless it succeeds in a legal challenge.
InSite Vision joins Merck & Co and Pfizer in patent infringement law suit against
17 June 2013
InSite Vision (OTC BB: INSV) that it will US pharma giants join Merck & CO (NYSE: MRK) and Pfizer (NYSE: PFE) in filing a patent infringement law suit against generic drugmaker Mylan (Nasdaq: MYL).
Osteoporosis drug bazedoxifene stops growth of breast cancer cells, even in resistant tumors
17 June 2013
Bazedoxifene, a drug approved in some countries to treat osteoporosis, has now been shown to stop the growth of breast cancer cells, even in cancers that have become resistant to current targeted therapies, according to a Duke Cancer Institute study reported by EurekAlert.
Canadian govt move to plain language for drug labeling
17 June 2013
Canadian Health Minister Leona Aglukkaq has announced the launch of the Plain Language Labeling Initiative, which aims to improve the safe use of drugs by making drug labels and safety information easier to read and understand.
Eli Lilly exercises rights to diabetes drug candidate TT-401 from Transition Therapeutics
17 June 2013
Canada's Transition Therapeutics (TSX: TTH) announced this morning (June 17) that US drug major Eli Lilly (NYSE: LLY) has exercised its option to assume all development and commercialization rights to type 2 diabetes drug candidate TT-401, under their original deal signed in 2010 (The Pharma Letter March 4, 2010). In conjunction with this assumption of rights, Transition will receive a $7 million milestone payment.
Additional indications in Japan for Roche's Avastin and Astellas' Prograf
17 June 2013
Swiss drug major Roche (ROG: SIX) says that the Japanese Ministry of Health, Labor and Welfare (MHLW) has approved the firm's blockbuster cancer drug Avastin (bevacizumab) for the treatment of malignant glioma, including newly diagnosed glioblastoma (GBM) in combination with radiotherapy and temozolomide chemotherapy, and as monotherapy for treatment of recurrent GBM and certain other types of high grade glioma following prior therapy.
India's NPPA to slash prices of key drugs by up to half
17 June 2013
In India, some key cancer drugs, antibiotics and medicines to treat cardiovascular diseases and tuberculosis are set to become cheaper by up to 50% within the next 45 days. The National Pharmaceutical Pricing Authority (NPPA) will shortly notify prices of as many as 150 packs of essential medicines in line with the new pharma pricing policy, according to official sources quoted by the Indian newspaper the Business Standard.
Positive Ph II results for Gilead's idelalisib in refractory indolent non-Hodgkin's lymphoma
17 June 2013
US biotech firm Gilead Sciences (Nasdaq: GILD) today (June 17) announced encouraging interim results from a single-arm, open-label Phase II study (Study 101-09) evaluating idelalisib (formerly GS-1101), an investigational, targeted, oral inhibitor of PI3K delta, for the treatment of patients with indolent non-Hodgkin's lymphoma (iNHL) that is refractory (non-responsive) to rituximab and to alkylating-agent-containing chemotherapy.
Elan puts up formal "for sale" notice
17 June 2013
Ireland-based Elan Corp (NYSE:ELN), which has been the subject of a hostile takeover campaign by private equity firm Royalty Pharma, announced on Friday (June 14) that it is proceeding with a formal sale process in light of the expressions of interest to acquire the firm received to date. In its brief statement, Elan did not mention the names of any companies concerned. As part of this process, Royalty Pharma will be invited to participate if they so wish. Accordingly, shareholders are urged not to tender into the current $6.7 billion ($13.00 a share, plus an up to $2.50 contingent value rights) Royalty Pharma hostile offer.
- US Supreme Court says patent settlement can "sometimes" be illegal
- InSite Vision joins Merck & Co and Pfizer in patent infringement law suit against
- Osteoporosis drug bazedoxifene stops growth of breast cancer cells, even in resistant tumors
- Additional indications in Japan for Roche's Avastin and Astellas' Prograf
- Highlights of EHA meeting: Novartis' Jakavi; Bristol-Myers and AbbVie's elotuzumab; Janssen's ibrutinib
