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.
Celgene Corp. exceeded expectations for second-quarter 2016 earnings on the strength of its flagship multiple myeloma drug Revlimid and growth in newer medicines.
Shanghai Fosun Pharmaceutical Group Co. Ltd. has agreed to buy an 86 percent stake in Gland Pharma – backed by KKR & Co. LP – for up to $1.3 billion, the largest acquisition of an Indian company from abroad in 2016.
Boston Scientific Corp. reported better-than-expected quarterly sales as it sold more of its heart devices and revenue from its troubled cardiac rhythm management business increased.
Beginning in 2017, drugmaker Eli Lilly will have an increased focus on dealmaking under the leadership of its incoming chief executive officer David Ricks, Reuters reported.
Along with its dismal half-year financial reports, UK-based AstraZeneca announced it was halting six pipeline programs.
A study of one million people has found that physical inactivity costs the global economy $67.5 billion a year in healthcare and productivity losses, but an hour a day of exercise could eliminate most of that.
The Ice Bucket Challenge that went viral two years ago – raising hundreds of millions of dollars – has helped identify a new gene behind the neurodegenerative disease ALS, or Lou Gehrig’s disease, researchers say.
TauRx Pharmaceuticals’ experimental Alzheimer’s drug LMTX failed to improve cognitive and functional skills in patients with mild to moderate Alzheimer’s disease.
Health insurer Anthem Inc. said it was committed to its planned acquisition of Cigna Corp. and again vowed to fight U.S. government efforts to block the deal, saying the merger will help lower costs for consumers.
International Business Machines Corp. said it would provide its technology and resources to help track the spread of the Zika virus.
GlaxoSmithKline has bought global rights to an experimental drug from Johnson & Johnson for up to 175 million pounds ($230 million), raising its bet on a new generation of biotech medicines for severe asthma.