Search Results for “acquisition” – Page 35 – media

FDA clears Pfizer’s pneumococcal vaccine for infants and children

Delilah AlvaradoAssociate Editor A general view of the Pfizer Headquarters sign on November 10, 2020 in Tadworth, England. Dan Kitwood via Getty Images Dive Brief: Pfizer on Thursday gained U.S. approval of its newest pneumococcal conjugate vaccine for use in children and infants, helping it compete with a rival shot from Merck & Co. that won a similar OK last year. Pfizer’s vaccine, called Prevnar 20, is designed to protect against infection by 20 strains of the bacteria — seven more than the company’s prior Prevnar 13 version. It has been approved in adults since 2021. Last July, Merck won approval in children of its Vaxneuvance vaccine, which protects against 15 strains. Both companies could soon face more competition as the market has sparked interest from other drugmakers. Dive Insight: While vaccines for the bacterial infection are widely available, thousands of cases still lead to hospitalization and death in the ...
- Source: drugdu
- 161
- April 30, 2023
Eli Lilly to sell low blood sugar drug Baqsimi to Amphastar in deal worth over $1bn

The drug is available in 27 markets, with worldwide sales totalling over $139m in 2022. Eli Lilly will sell its low blood sugar drug Baqsimi to Amphastar Pharmaceuticals in a deal worth over $1bn, the two companies announced. Under the terms of the definitive agreement, Amphastar will pay Lilly $500m at closing and an additional $125m after one year, with Lilly also eligible to receive sales-based milestone payments of up to $450m. Baqsimi is the first and only nasally administered glucagon to treat severe hypoglycaemia – very low blood sugar – in diabetes patients aged four years and above. Classed as a diabetic emergency, severe hypoglycaemia is a complication that can occur in diabetes patients who take insulin and certain anti-diabetic tablets. The condition is characterised by altered mental or physical functioning, including confusion and disorientation, convulsions, loss of consciousness and coma. Lilly launched Baqsimi ...
- Source: drugdu
- 168
- April 28, 2023
Biogen’s new strategy brings more pipeline cuts, but leaves deal options open

Biogen has stopped or paused several drug programs as part of a larger effort to cut costs and prioritize certain research. The decision, disclosed Tuesday in the company’s latest earnings report, comes as sales of its marketed medicines for brain and nervous system disorders continue to fall. Biogen recorded $2.46 billion in total revenue between January and March, a 3% decline from the same period a year prior. Revenue was down across most business segments, with the company’s flagship multiple sclerosis franchise taking the biggest hit, decreasing by 19%. Christopher Viehbacher, the former chief executive at Sanofi and the recently minted CEO of Biogen, is now trying to reshape a research and development organization that, for many years, revolved around high-risk, high-reward neuroscience programs. ““Having a few of those projects in our pipeline is good,” he said in February, “having 100% … is challenging.” On Tuesday, Biogen ...
- Source: drugdu
- 182
- April 27, 2023
OTC Narcan will cost ‘less than $50’, company says

The maker of the first opioid treatment drug to be sold OTC has announced a pricing plan weeks after an FDA approval for Narcan. Emergent Biosolutions, maker of the opioid overdose reversing nasal spray Narcan, intends to price the treatment at less than $50 for a kit of two 4mg doses for over-the-counter use (OTC) the company said in a statement. The company has said its goal is to have an out-of-pocket retail price that is in line with its publick interest pricing strategy. Public interest groups including government agencies, harm reduction groups, and emergency responders pay less than $50 out of pocket for one carton of the spray, according to Emergent. Additionally, its pricing for both public interest groups and retailers going forward would be less than the current Wholesale Acquisition Cost (WAC) price of $125. While justifying the price, the Emergent statement said the company needs to “foster a sustainable ...
- Source: drugdu
- 111
- April 25, 2023
GSK to buy Bellus Health and its chronic cough drug for $2B

GSK on Tuesday said it will pay $2 billion to acquire Bellus Health, a Canada-based developer of an experimental drug for chronic cough that’s in late-stage clinical trials. Deal terms value each Bellus share at $14.75, roughly double their closing price on Monday. The companies expect the acquisition will close in the third quarter, and Bellus’ board has unanimously voted in its favor. Bellus’ drug, called camlipixant, is currently being tested in two Phase 3 studies of people with persistent cough that either doesn’t have a clear cause or can’t be relieved by treatment for an underlying condition. Results are expected in late 2024 and in 2025, respectively. With the Bellus deal, GSK will gain a drug that could compete with a similar treatment being developed by Merck & Co. Both medicines are designed to work by targeting a receptor known as P2X3, and could become the first ...
- Source: drugdu
- 352
- April 20, 2023
Chiesi Farmaceutici acquires biopharmaceutical firm Amryt Pharma

Chiesi Farmaceutici has completed the previously announced acquisition of global, commercial-stage biopharmaceutical company Amryt Pharma. The definitive agreement between the companies was initially signed in January this year. The total deal value at close is nearly $1.2bn in upfront consideration and contingent value rights (CVRs) representing an additional potential consideration of around $225m. Chiesi Global Rare Diseases head Giacomo Chiesi said: “Amryt has unique and clinically differentiated products and additional promising drugs in its pipeline, and, as a benefit corporation certified B Corp, Chiesi has a patient-centric and sustainable model in place to make these treatments available to even more patients who need them.” With this acquisition, Chiesi will be able to expand patient access to approved treatments and also advance efforts for the development of new treatments for individuals with rare diseases. Chiesi Group CEO Giuseppe Accogli said: “This acquisition reflects Chiesi Group’s commitment towards patients. ...
- Source: drugdu
- 112
- April 14, 2023
GSK will have to pay additional royalties to AstraZeneca on cancer drug Zejula

[GSK already has concerns with cancer drug Zejula, which is under scrutiny as a member of the PARP inhibitor class. Not the company has taken a loss in court as it will have to surrender added royalties to AstraZeneca for the drug which rolled up sales of 463 pound sterling ($571 million) last year. (GSK)] When Emma Walmsley took over as CEO at GSK in 2017, one of her first moves was to beef up the company’s oncology portfolio with a $5.1 billion acquisition of cancer specialist Tesaro and its newly approved drug Zejula. The ovarian cancer treatment generated 463 pound sterling ($571 million) in 2022, representing a 17% increase from the previous year. So far, so good, right? Well, not exactly. After losing a patent case in court on Wednesday, GSK will have to surrender a portion of its sales of Zejula to Tesaro’s partner on ...
- Source: drugdu
- 159
- April 6, 2023
In $2.6B cell and gene therapy expansion, Sartorius buys viral vector specialist Polyplus

[Before the Sartorius buyout, Polyplus had itself been expanding through multiple acquisitions. (Sartorius)] As the biopharma industry struggles with a dire shortage of viral vectors to make cell and gene therapies, contract manufacturers are busy beefing up their capabilities. In the latest example of biopharma’s ongoing investment in cell and gene therapy production, Sartorius has agreed to acquire French company Polyplus for 2.4 billion euros ($2.6 billion), the German CDMO said Friday. The deal gives Sartorius additional know-how in nucleic acid delivery, including transfection reagents and plasmid DNA design, all of which are key elements in the production of viral vectors for building cell and gene therapies. Formed in 2001, Polyplus employs about 270 people in several locations in France, Belgium, the U.S. and China. Before the Sartorius buyout, Polyplus had itself been expanding through M&A deals. In 2021, Polyplus bought Asia-Pacific-focused reagent supplier Biowire. ...
- Source: drugdu
- 272
- April 4, 2023
UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system

The Financial Times reported that UBS has agreed to buy the bank for more than $2 billion, a substantial increase from the initial $1 billion offer it reported earlier Sunday. UBS agreed to buy its embattled rival Credit Suisse for $3.2 billion Sunday, with Swiss regulators playing a key part in the deal as governments looked to stem a contagion threatening the global banking system. “With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation,” read a statement from the Swiss National Bank, which noted the central bank worked with the Swiss government and the Swiss Financial Market Supervisory Authority to bring about the combination of the country’s two largest banks. The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. “This ...
- Source: drugdu
- 194
- March 20, 2023
Healthcare companies may turn to big banks after SVB’s fall

Healthcare startups may turn to traditional large banks and prioritize conserving cash after the collapse of regional lenders Silicon Valley Bank and Signature Bank last week. The fall of SVB created a hole in the life sciences startup sector, locking out funds temporarily for some companies and cutting off a source of short-term cash for healthcare startups. A major bank and lender for healthcare companies, SVB last year had clients in nearly half of U.S. venture-backed technology and life sciences companies. “At this very moment, I think most of the companies are flying to safety, to the big banks,” said Ian Chiang, partner at healthcare investing company Flare Capital, “Perhaps it’s a little bit of a knee-jerk reaction to see what would happen.” However, companies may still deposit with regional banks, depending on size. Healthcare unicorns, meaning companies with valuations exceeding $1 billion, are likely not going to be able to have ...
- Source: drugdu
- 158
- March 17, 2023

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