Search Results for “acquisition” – Page 28 – media

Azurity Pharmaceuticals Absorbs Slayback Pharma

The company expects to yield a significant number of new medicine launches from the acquisition. Azurity Pharmaceuticals, Inc. broke the news that it has officially acquired Slayback Pharma LLC from existing investors including KKR and Everstone Capital, making it a wholly owned subsidiary. According to Azurity, the acquisition is expected to realize its purpose of serving overlooked patients, hoping to yield a significant number of new medicine launches over the coming years. “I am delighted to announce this combination and the increased potential it brings to do more for overlooked patients,” said Richard Blackburn, CEO, Azurity. “The complementary expertise of the two companies in developing innovative dose forms will result in a strong pipeline of new medicines to meet the needs of patients. We will bring the commercial expertise of Azurity to Slayback’s pipeline and look forward to introducing an even wider range of dose-forms and formulations to meet a ...
- Source: drugdu
- 167
- September 29, 2023
Takeda settles antitrust lawsuit over gout drug Colcrys after trial kicked off

Takeda has managed to close one of the antitrust cases that have been hanging over the company. The Japanese pharma giant has inked a settlement with drug wholesalers who accused the company of using anti-competitive deals to delay generic entry to its gout drug Colcrys, a court filing shows. The exact terms of the deal were unclear. Takeda declined to comment. The lawsuit lasted for about two years. A group of wholesalers, including big names such as AmerisourceBergen, filed the antitrust claims in federal court in Pennsylvania in August 2021. The case centers on patent settlements that Takeda reached in 2015 and 2016 with several generic drug manufacturers around their generic versions of Colcrys. Other defendants in the lawsuit include Endo’s Par Pharmaceutical, Amneal and Teva, through its acquisition of Watson Laboratories. Rather than selling its own product, Par agreed to make an authorized generic Colcrys by paying Takeda royalties, ...
- Source: drugdu
- 206
- September 25, 2023
CDMOs SK pharmteco, Oxford Biomedica make cell and gene therapy manufacturing M&A plays

It’s a boom time in the cell and gene therapy market, with manufacturers making moves to secure a larger piece of the pie. Wednesday, two CDMOs revealed acquisitions that will bolster their production capabilities and increase their global presence. Korean manufacturer SK pharmteco has taken a controlling stake in the Philadelphia-based Center for Breakthrough Medicines (CBM) for an undisclosed sum. Meanwhile, England’s Oxford Biomedica said it is in talks with Institut Mérieux to buy out its subsidiary, ABL Europe, for 15 million euros ($16 million). SK’s move comes after it invested $350 million in CBM in January of last year. As part of the agreement, SK had an option to increase its stake, which it exercised, becoming its largest stockholder. CBM was established in 2019 at a former GSK site. The prior funding allowed CBM to begin building end-to-end manufacturing capabilities. SK boasted that the site will be the world’s ...
- Source: drugdu
- 105
- September 22, 2023
FDA Approves GSK Myelofibrosis Med That Has Edge Over Others in Drug Class

Myelofibrosis can already be treated with several drugs from a class of medicines that address a pathway driving this type of blood cancer. A drug from GSK is now the latest entrant into the class, but with an additional component that specifically treats the anemia complication affecting myelofibrosis patients. FDA approval of GSK’s momelotinib covers the treatment of adult myelofibrosis patients regardless of whether or not they have been previously treated with another drug for the cancer. The regulatory decision announced late Friday marks the payoff for the pharmaceutical giant’s bet on a molecule it acquired in a $1.9 billion deal. The GSK drug, known in development as momelotinib, will be marketed under the brand name Ojjaara. In myelofibrosis, inflammation and scar tissue (fibrosis) impair the bone marrow’s ability to normally produce red blood cells. The disease leads to anemia, which must be treated with regular blood transfusions. Other complications ...
- Source: drugdu
- 181
- September 19, 2023
Coherus acquires immuno-oncology company Surface

Coherus BioSciences has concluded the acquisition of clinical-stage immuno-oncology (I-O) company Surface Oncology in a deal totalling nearly $66.9m. The deal value comprises $40m, along with Surface’s net cash at deal closing of $26.9m. Surface Oncology focuses on the development of immunotherapies that act on the microenvironment of the tumour. With the deal closing, Surface became a completely owned Coherus subsidiary. Following the takeover, Coherus expanded its I-O pipeline by adding clinical-stage antibody immunotherapy candidates of Surface, Casdozokitug (SRF388 / casdozo) and CHS-114 (SRF114). These product candidates can boost the innate and adaptive immune responses to facilitate a strong immunologic response and disease outcomes in cancer patients. Casdozokitug is a new antibody targeting IL-27 and is presently being analysed in Phase I/II clinical trials for lung and liver cancer. An anti-CCR8 antibody, CHS-114 is being evaluated in Phase I/II study as a single agent in advanced solid tumour patients. Coherus ...
- Source: drugdu
- 207
- September 13, 2023
analysts

Biopharma M&A is on an uptick compared to the post-pandemic doldrums of the last two years. Analysts anticipate that the trend will continue in 2023 and into 2024 as companies attempt to beef up their portfolios.During second quarter earnings calls, many heavy-hitters—including Johnson & Johnson, Bristol Myers Squibb and Merck—expressed urgency in their quest for deals. With so many buyers in competition, sellers are finding offers that are more attractive. For example, Merck’s $10.8 billion proposal to acquire Prometheus in April came at a 75% premium. In July, Biogen’s $7.3 billion deal for Reata represented a 59% markup. “There’s been such a consistent pick up in momentum in anything above a billion [dollars],” Cody Powers, an M&A expert with ZS Principal, said in an interview. “I think we’re back on the gravy train of where we were a couple of years ago in terms of premiums.” In 2019, the industry ...
- Source: drugdu
- 118
- September 11, 2023
J&J dumps high-dose Opsumit trial upon failure in rare type of pulmonary hypertension

Johnson & Johnson’s plan to expand decade-old pulmonary hypertension med Opsumit has hit a snag.J&J’s Janssen has decided to stop a phase 3 trial for a 75-mg dose of macitentan in patients with chronic thromboembolic pulmonary hypertension (CTEPH). The company pulled the plug after an independent data monitoring committee performed an interim analysis and figured the trial wouldn’t succeed. Macitentan, given at 10 mg daily, won approval in 2013 under the brand name Opsumit for treating pulmonary arterial hypertension (PAH). PAH and CTEPH are slightly different diseases, but both feature abnormally high blood pressure in the arteries of the lungs. The results from the high-dose trial, dubbed MACiTEPH, won’t affect the marketed product, J&J said. Separately, J&J is trying to show that the higher dose works better than the FDA-approved 10-mg version in PAH. That study, coded UNISUS, remains ongoing with an estimated primary completion date next month, according to ...
- Source: drugdu
- 103
- September 9, 2023
Idorsia reacquires aprocitentan rights from Janssen for $343m

Idorsia has decided to reacquire the global rights for the oral endothelin receptor antagonist aprocitentan almost six years after they were sold to Janssen. The news comes after Idorsia announced potential layoffs, and cost-reduction initiatives, including the sale of its Asia Pacific operations, in July due to “lower than anticipated” sales in H1 2023. The reacquisition of aprocitentan is expected to provide a much-needed boost to Idorsia’s profits. GlobalData forecasts aprocitentan to generate $241m in sales in 2029. Idorsia CEO Jean-Paul Clozel said: “Aprocitentan has demonstrated significant and clinically meaningful sustained blood pressure lowering benefits with a good safety profile, particularly suited to the high-risk patient population with resistant hypertension.” Aprocitentan is currently under review with the US Food and Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) set for 19 December. An EU approval application was filled with the European Medicines Agency (EMA) in January. Idorsia ...
- Source: drugdu
- 114
- September 8, 2023
Nestlé divests peanut allergy treatment Palforzia to Stallergenes Greer

Nestlé has unloaded its peanut allergy drug Palforzia to Swiss biopharma Stallergenes Greer after previously spending billions on the treatment’s acquisition. The company will receive undisclosed milestone payments and ongoing royalties from Stallergenes Greer as part of the deal, according to the 4 September announcement. In August 2020, Nestlé acquired Palforzia through its $2.6bn takeover of Aimmune Therapeutics, the original developer of the peanut allergy treatment. Prior to this, Nestlé invested $473m in Aimmune over several years. Most recently, Aimmune received $200m from Nestlé in February 2020, only days after the US Food and Drug Administration (FDA) approved Palforzia as a peanut allergy treatment for children ages four years through 17. The European Commission approved the drug in the same patient group in December 2020. While the drug was approved for use in children, the drug can also be used in those aged 18 and older in combination with a ...
- Source: drugdu
- 232
- September 7, 2023
Years after $2B buyout, Nestlé ditches Aimmune’s peanut allergy drug Palforzia

After lackluster sales dampened the initial enthusiasm that came with a $2.1 billion acquisition, Nestlé has finally found a new owner for its peanut allergy drug Palforzia. Nestlé has divested Palforzia to U.S.-based allergy specialist Stallergenes Greer for an undisclosed sum, the food giant said Tuesday. The transaction closed when the two companies signed the agreement. Nestlé will receive milestone payments and royalties from Stallergenes Greer. The deal comes later than expected. Back in November, Nestlé announced a strategic review of Palforzia, citing slower-than-expected uptake by patients and doctors. At that time, the review was expected to be done in the first half of 2023. Palforzia became the first drug approved by the FDA for peanut allergy in children in January 2020. Back then, Evaluate Pharma projected that the drug could reach $1.28 billion in sales by 2024. Seeing Palforzia’s value in its food allergy portfolio, Nestlé in August 2020 ...
- Source: drugdu
- 159
- September 7, 2023

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