Pharmaceutical Sector

Results of Cyramza Phase 3 Study not statistically Significant

Results of Cyramza Phase 3 Study not statistically Significant

Results of the new Phase 3 study, called REACH-2, conducted by Eli Lilly and Co., showed that Cyramza therapy did not significantly improve overall survival in patients with advanced hepatocellular carcinoma (HCC) also known as liver cancer.

The liver cancer trial was conducted to see if Cyramza is effective in fighting one of the deadliest cancers. On Friday, Lilly said that Cyramza didn't help patients live significantly longer than patients who were getting a placebo and best supportive care.

Although the selected HCC patients with elevated baseline alpha-fetoprotein (AFP), a liver enzyme, did show improvement in survival after receiving ramucirumab, it was not statistically significant.

US Court of Appeals for Federal Circuit invalidates Teva’s Copaxone Patent

US Court of Appeals for Federal Circuit invalidates Teva’s Copaxone Patent

The US court of Appeals for the Federal Court has invalidated a patent by Teva Pharmaceuticals for drug Copaxone. It is the second time that the US court of appeals has reviewed Teva’s patent.

In January, the US Supreme Court voted 7-2 that the Court of Appeals has not used the correct approach in rendering its 2013 decision of invalidating the patent. Owing to which, the case was being sent back to the US Court of Appeals to reconsider its judgement.

Teva spokeswoman said that they will try each and every legal method, even to look out for further appellate review. The decision over patent protection could open a way for the rival companies to come up with their generic version.

CVS Health Corp. to acquire Target’s 1,600 in-store pharmacies

CVS Health Corp. to acquire Target’s 1,600 in-store pharmacies

This week, CVS Health Corp. will move in the direction of expanding even more. It has been announced by the drugstore behemoth that it will buy Target’s 1,600 in-store pharmacies for $1.9 billion.

The announcement was made on Monday and on Thursday, the company will inaugurate a satellite office in Boston’s Back Bay, which will concentrate on digital innovation. Brian Tilzer, a former e-commerce executive at Staples Inc. will manage the outpost. He has been chief digital officer at CVS since 2013.

According to him, CVS has two objectives i.e. launching designers and software developers who may not go for the chance to work at the company’s campus in Woonsocket, R.I., in addition to increasing new partnerships with Boston startups, universities, hospitals and insurers.

Target to sell its Pharmacy and Clinic Business to CVS Health

Target to sell its Pharmacy and Clinic Business to CVS Health

Target has signed a definitive agreement with the drugstore chain CVS Health. In a $1.9 billion deal, Target will sell its pharmacy and clinic business to the latter.

Conditions under the agreement include –

• CVS to rebrand and operate more than 1,600 pharmacies present within Target’s stores in 47 states.

• CVS will add ‘CVS/ pharmacy’ outlet to all new Target stores in which pharmacy services will be offered.

• Target’s 80 clinics will rebranded as MultiClinics and within three years, the count will be taken to 100.

• Both the companies will work in unison to come up with an updated format of Target Express. After the deal will be closed, Target will open around 10 such stores.

Pfizer Inc’s Ibrance Drug Proves It Can Slow down Progression of Breast Cancer

Pfizer Inc’s Ibrance Drug Proves It Can Slow down Progression of Breast Cancer

Pfizer Inc's Ibrance drug in a phase-III trial confirmed that when combined with hormone remedy, it can double the period of illness management for ladies with most typical sort of breast cancers.

It was said that interim evaluation sufferers that were given Ibrance and AstraZeneca Plc's Faslodex (fulvestrant), an extensively used remedy to dam estrogen, were able to survive 9.2 months more as compared to other cancer sufferers.

The trial was introduced at a gathering of the American Society of Clinical Oncology. The trial included 521 sufferers whose breast most cancers were categorized as estrogen-receptor constructive, human epidermal progress issue receptor 2-negative. This class accounts for about 75% of all breast cancers.

The Future of Brodalumab Awaits AstraZeneca’s Decision

The Future of Brodalumab Awaits AstraZeneca’s Decision

The US drug maker Amgen has severed ties with its former partner, AstraZeneca, a UK-based drug maker over the issue of restrictive labeling. This marks an end to the collaborative project development and commercialization deal for a drug called Brodalumab.

Brodalumab is a monoclonal antibody, which helps in treating skin disease psoriasis, psoriatic arthritis and axial spondyloarthritis. It was developed by Amgen and was being tested to treat moderate-to-severe conditions.

The two companies entered into a deal in April 2012 and Brodalumab was one of the five drugs to be developed under this deal. The collaborative effort aimed at producing five monoclonal antibodies from Amgen's clinical inflammation portfolio.

Baxter spending $900 million to buy leukemia treatment

Baxter spending $900 million to buy leukemia treatment

On Tuesday, Baxter International Inc said that it has agreed to buy two drugs to treat a rare form of blood cancer from Italian drugmaker Sigma-Tau Finanziaria SpA for $900 million, before expenses.

Both the drugs are biologics for the treatment of acute lymphoblastic leukemia (ALL) and will form part of Baxter's biopharmaceutical business Baxalta, which is expected to be spun off this year.

On Tuesday, Baxter said that out of the two drugs, Oncaspar has been given the approval for sale in the United States, Germany and Poland and has around $100 million in annual sales. The other drug is presently undergoing trials.

University of North Carolina and GSK Enter into Partnership to Discover Cure for HIV/AIDS

University of North Carolina and GSK Enter into Partnership to Discover Cure for

On Sunday, the University of North Carolina at Chapel Hill and GSK, a world known pharmaceutical and healthcare company, announced the creation of a HIV Cure center. Both also jointly own a new company whose main aim would be to come up with cure for HIV/AIDS.

The centre, located on the UNC campus, would be focusing on discovering a cure the disease. On the other hand, the company, Qura Therapeutics, will take care of the business aspect of the partnership. Among the things that will be handled by the company include intellectual property, commercialization, manufacturing and governance.

Vertex’s Cystic Fibrosis drug Orkambi can get Green Signal

Vertex’s Cystic Fibrosis drug Orkambi can get Green Signal

Not many effective treatments are available for cystic fibrosis, considered to be a serious inherited disease. Therefore, there are chances that this point can get approval of Vertex Pharmaceuticals Inc.'s experimental combination drug.

Analysts said that the drug can get the go-ahead signal despite the fact that regulators have raised questions over the drug's efficacy.

Alan Carr, an analyst for local investment bank Needham & Co, affirmed that the regulators want to have the evidence of the efficacy level. But then, in this situation the drug will be approved as no other disease-modifying treatments are available for the patient population.

Alexion to acquire Synageva for $8.4 billion

Alexion to acquire Synageva for $8.4 billion

Alexion Pharmaceuticals will acquire Synageva BioPharma Corporation for $8.4 billion in cash and stock to develop in the field of rare-disease treatments. The company said in a statement that Alexion Pharmaceuticals will offer $115 in cash and 0.6581 Alexion shares for each share of Synageva.

It also said that it indicates a share value of $230 based on the nine day volume-weighted average closing price of Alexion stock through May 5, 2015. The boards of both the companies have supported the transaction.

A medicine called Soliris was developed by Alexion, which led to a sale of $2 billion last year. The medicine was developed for patients with two rare but life-threatening disorders. Synageva also looks forward to developing such drugs together with a medicine called Kanuma.

Cancer drug spending hits $100 billion

Cancer drug spending hits $100 billion

These days, prices of drugs are increasingly scrutinized and cost of cancer medicines already reached $100 billion in 2014. According to a report published on Tuesday from the IMS Institute for Healthcare Informatics, it increased over 10% from 2013, and increased from $75 billion five years earlier. According to IMS, targeted therapies, which point toward specific drivers of cancer, now account for approximately half of total spending.

Now more cancer drugs are being approved, leading to increased spending on them. According to IMS, in the last five years, the compound average growth rate on cancer medicines has been 6.5% worldwide. It added that rate would be 6 to 8% through 2018.

Gilead excels as Hepatitis C Drug-maker

Gilead excels as Hepatitis C Drug-maker

Gilead Sciences successfully surpassed the expectations of Wall Street as the sales of its drugs to treat hepatitis C reached $4.55 billion in the first quarter. Gilead's new drug, Harvoni, which was approved in last October, had overall sales of $3.58 billion in this quarter.

But the sales of its older hepatitis C drug, Sovaldi has decreased as it was supplemented by Harvoni. The overall sale of Sovaldi fell to $972 million in this quarter from $2.27 billion in the first quarter of 2014.

Takeda agrees to pay $2.4 billion to settle claims over Actos Drug

Takeda agrees to pay $2.4 billion to settle claims over Actos Drug

Takeda Pharmaceutical Company, the largest pharmaceutical company in Japan and Asia, announced on Wednesday that it will pay up to $2.4 billion to a number of patients and their families to settle claims over its diabetes drug Actos. According to the reports, the pharmaceutical company's Actos drug was linked to cancer.

The company headquartered in Osaka has faced product liability lawsuits in the United States, which involved approximately 9,000 patients who claimed that the company failed to inform them about the risks posed by the drug. Takeda said the settlement will resolve most of the claims though the company does not admit liability.

Novartis' net profit jumps in Q1

Novartis' net profit jumps in Q1

On Thursday, Novartis, a Swiss-based pharmaceutical company, reported an enormous jump in first-quarter net profit.

The company's net profit rose to $13.005 billion from $2.968 billion in the year-ago quarter. Profit was boosted by a $10.8 billion gain from transactions with GlaxoSmithKline PLC and Eli Lilly and Co.

Novartis' animal health business was sold to American global pharmaceutical company Lilly. Novartis also bought cancer drugs from British multinational healthcare company GSK and sold its non-flu vaccines business.

Both the companies combined their consumer health care businesses. These deals helped the company to focus on three core businesses, which include pharmaceuticals, generic drugs and eye care.

Novartis focusing on Boosting Immune System to treat Cancer

Novartis focusing on Boosting Immune System to treat Cancer

Novartis AG, one of the world's leading cancer R&D companies, has shifted its focus on using the body's immune system to battle tumors. As many as 22 oncology drugs from Novartis are currently available in the market to treat cancers, ranging from breast cancer to leukemia. The company is also developing 25 other treatments for cancer.

A research group having expertise in the field of immuno-oncology has been recently launched by the drug manufacturer. The Swiss company has hired an internationally known cancer vaccine authority, Dr. Glenn Dranoff, to lead the group. The aim is to focus on three distinct therapeutic areas and figure out how they can be combined with existing cancer drugs.

Teva Pharmaceutical Industries Ltd in talks on takeover bid for Mylan NV

Teva Pharmaceutical Industries Ltd in talks on takeover bid for Mylan NV

Teva Pharmaceutical Industries Ltd, an international pharmaceutical company, could be considering a takeover bid for acquiring Mylan NV, as per private sources within the company.

The merger would help to create a global generic-drug giant and would also increase sales for both companies. It has been said that Teva Pharmaceutical Industries Ltd is in internal debate over the takeover bid and no offer has materialized till date.

Advisers have been approached by the company about the possibility of such a bid transpiring and the financing needed for a try of this scale. Acquisition of acquisition is going to have a very high price tag for Teva Pharmaceutical Industries Ltd.

MDCO receives votes in favor of its blood clot preventer by FDA’s CRDAC

MDCO receives votes in favor of its blood clot preventer by FDA’s CRDAC

On Wednesday, MDCO announced that an independent advisory panel to the US Food and Drug Administration (FDA) has voted to recommend approval of company's intravenous blood clot preventer in angioplasty procedures.

The Cardiovascular and Renal Drugs Advisory Committee (CRDAC) voted 9-2 to support the approval of investigational intravenous anti-platelet agent cangrelor for patients undergoing percutaneous coronary intervention (PCI), which is commonly known as angioplasty.

The PCI is performed to widen narrowed or clogged coronary arteries that often include the use of stents. The panel voted for cangrelor to reduce the risk of periprocedural thrombotic events such as myocardial infarction (MI), stent thrombosis (ST) and ischemia-driven revascularization.

Mylan makes Proposal to Acquire Perrigo

Mylan makes Proposal to Acquire Perrigo

Generic drug maker Mylan has made an offer of nearly $29bn to acquire Irish over-the-counter (OTC) firm Perrigo. The amount has been offered in cash and stock deal.

As a part of the deal, Perrigo shareholders will receive $205 in a combination of cash and Mylan stock for each Perrigo share. Perrigo has confirmed that it has received the proposal from Mylan with regard to the possible offer.

Mylan executive chairman Robert Coury said, "This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination".

Pfizer to Cease its Vaccines Sales Operations in China

Pfizer to Cease its Vaccines Sales Operations in China

U. S. pharmaceutical corporation Pfizer said that it is planning to cease its vaccines sales operations in China. According to the company, the Chinese government was not keen on renewal of an import license for one of its products.

Pfizer said that this move will cause a shortage of the treatment in China. The company notified that the license for Prevenar has expired. Prevenar is a vaccine that protects children against pneumococcal disease that can lead to pneumonia.

"Based on a careful assessment of this situation, we have decided to cease our vaccines commercial operations in China at this time, effective immediately", Pfizer spokeswoman Trupti Wagh said in comments emailed to Reuters.

UnitedHealth to buy Pharmacy Benefits Manager Catamaran Corporation for $12 billion

UnitedHealth to buy Pharmacy Benefits Manager Catamaran Corporation for $12

UnitedHealth has announced a deal to buy pharmacy benefits manager Catamaran Corp. for $12.8 billion. The move is a part of pharmacy benefits company fight against rising prescription drug costs.

The work of Pharmacy benefits managers is to help negotiate the prices that customers pay for prescription drugs.

For customers, they are like a key component in the push to contain soaring costs from specialty drugs, complex medicines that can represent treatment breakthroughs. Usually, such drugs cost much higher than other drugs.

The rise in costs due to these drugs may affect more patients as use of the treatments is growing and coverage for them is shrinking.




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