Inspire Pharmaceuticals, a specialty pharmaceutical company focused on the development and commercialization of ophthalmic products, is being acquired by Merck & Co., commonly known as MSD outside the U.S. and Canada. The acquisition is being valued at approximately $430 million.
Continue reading ‘Merck & Co. to Acquire Inspire Pharmaceuticals’
Novartis has completed its acquisition of 85% in the Chinese vaccines firm Zhejiang Tianyuan Bio-Pharmaceutical. The deal, roughly valued at $125 million, was first announced in November 2009. Swiss drugs giant Novartis has said that the acquisition will provide it with an expanded presence in the Chinese vaccines market and also facilitate the introduction of additional Novartis’ vaccines into the country. The firms claims that China represents the world’s third largest vaccines market, with annual industry sales of over $1 billion, and the expectation of double-digit growth over coming years.
Continue reading ‘Novartis Completes $125M Acquisition of Tianyuan’
Medco Health Solutions Inc’s (MHS.N) quarterly profit rose 11 percent on increased mail deliveries of generic drugs, but its shares fell as the report failed to excite investors. The U.S. pharmacy benefit manager reported a fourth-quarter profit, excluding special items, that matched Wall Street’s target and it backed its 2011 forecast. Its shares fell 4.5 percent.
Continue reading ‘Medco in-line Profit Report Fails to Excite Market’
Adding to its store of technology weapons, Catalent Pharma can now offer fast-dissolve tablet technology to clients. It obtained the development rights to Lyopan from Pantec. The lyophilized tablets are used for such OTC products as allergy treatments and travel medications, says Catalent. The technology uses less water than other oral dose technologies, reducing not just energy consumption but also sublimation and drying time.
Continue reading ‘Catalent Adds Fast-Dissolve Tech to Oral Dose Arsenal’
Sanofi-Aventis continues its diversification march. The company got the FDA’s permission to sell its blockbuster allergy treatment Allegra without a prescription. Sanofi has been hoping for that OK to bolster its U.S. consumer healthcare business that was created last year with the $1.9 billion purchase of Chattem.
Continue reading ‘OTC Allegra Nod Fortifies Sanofi’s U.S. Consumer Ops’
With two antiviral drug candidates in the clinic, Durham, NC-based Chimerix has raised $45 million in a Series F round of financing. New Leaf Venture Partners led the round. The firm was joined by new investors Pappas Ventures and Morningside Group and existing contributors Canaan Partners, Sanderling Ventures, Alta Partners, Asset Management Company and Frazier Healthcare Ventures.
Continue reading ‘Chimerix Funds Antiviral Drug Work with $45M’
More drugmakers are seeing potential in the business of producing copycat versions of expensive biotechnology drugs as U.S. guidelines take shape. The topic was at the forefront of plans discussed by several executives at this week’s JP Morgan healthcare conference in San Francisco. Kevin Sharer, chief executive officer at Amgen Inc, said the world’s largest maker of branded biotechnology drugs would consider entering the “biosimilars” space, particularly in emerging markets like Asia and South America.
Continue reading ‘Copying Biotech Medicine Attracts More Drugmakers’
Merck Serono is teaming up with France’s Domain Therapeutics to take aim at a new target for Parkinson’s and other neurodegenerative diseases. Domain will contribute compounds developed from their chemical series in exchange for a €2 million upfront, research funding and up to €132 million ($175 million) in milestones for the first two products.
Continue reading ‘Domain Gets $178M Deal to Develop Parkinson’s Drugs’
Mosquirix, an experimental malaria vaccine from GlaxoSmithKline, provides African children with long-lasting protection and reduces the risk of infection by the parasite that causes severe malaria by 46 percent over 15 months, according to researchers.
Several big biotech and pharma companies have been buzzing about their plans to launch biosimilar programs now that the FDA is laying out a regulatory pathway for the therapies. Reuters pinned down several CEOs at the JP Morgan event, and Amgen’s Kevin Sharer as well as Biogen Idec’s George Scangos talked up plans to fire up some follow-up programs of their own.
Continue reading ‘Big Biotech Joins Big Pharma in Hunt for Biosimilars’
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