Following the failure of its Phase III trial of its prostate cancer drug galeterone, Boston-based Tokai Pharmaceuticals is terminating its workforce by 60 percent as part of a plan to reduce operating expenses and conduct an evaluation of options for the future of the experimental drug and the company’s pipeline.
Seres Therapeutics Inc. said its experimental drug for preventing a bacterial infection of the large intestine missed the main goal in a mid-stage study.
An interesting, and occasionally disconcerting, business model has developed in a sector of the pharmaceutical industry. For certain super-rare diseases, ones where only a few thousand people are affected, there seemed to be little or no incentive for drug companies to spend millions of dollars on developing a treatment. But now there are companies focusing on the rare-disease market and developing drugs that have treatments that often range in price from hundreds of thousands of dollars to a million dollars. And for the most part, governments or payers are willing to pay the sky-high prices.
Takeda will refocus R&D on three targeted therapeutic areas – oncology, gastroenterology and CNS. Vaccines will also continue to play an important role.
The risk of Zika virus infections at the Olympic Games is both low and manageable, the chief of the World Health Organization said a week before the event kicks off in Rio de Janeiro.
Sanofi’s quarterly sales and profit fell despite double-digit growth at biotech arm Genzyme as the diabetes division came under sustained U.S. pricing pressure.
A New York federal judge has ruled in favor of Bayer AG against nearly 1,300 lawsuits filed by women who say they suffered internal injuries from the company’s Mirena intra-uterine contraceptive device.
Lilly received a civil investigative demand from the U.S. attorney’s office for the southern district of New York requesting documents and info relating to PBM contracts.
Bristol-Myers Squibb reported disappointing 2Q 2016 sales of its Yervoy melanoma treatment.