Entries by BioSpace

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As Hampton Takes Over as Chairman at GlaxoSmithKline (GSK), CEO Witty Needs to Deliver or “Step Aside”

GlaxoSmithKline (GSK) is under scrutiny Tuesday, after more analysts have called for its longstanding chief executive, Sir Andrew Witty, to either step up his performance or resign within the next year, as the company prepares to receive its new chairman later this week. “Mr. Witty is running out of time,” said Stephen Bailey, a fund […]

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Costco Accuses Johnson & Johnson (JNJ) of Price Fixing

Costco Wholesale Corp. filed a complaint in March against Johnson & Johnson (JNJ), accusing J&J’s Vision Care Inc. of price fixing related to its contact lenses. The suit was made public on Friday in J&J’s quarterly report to the U.S. Securities and Exchange Commission (SEC). J&J’s 10-Q filing has a laundry list of updates on […]

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Celgene (CELG) Dealmaking Continues With Two Pacts Worth $110 Million With Northern Biologics, Agios (AGIO)

CAMBRDIGE, Mass. – Celgene Corporation (CELG) has struck two deals with other pharmaceutical companies with a combined value of $110 million to advance its oncology platform, continuing the cancer drugmaking company’s deal making trend to advance its oncology pipeline. Today Celgene announced it entered into an $80 million agreement with Agios Pharmaceuticals (AGIO) to develop […]

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Celgene Picks Up San Francisco Biotech Quanticel in $485 Million Deal

SUMMIT, N.J. & SAN DIEGO—Celgene Corporation (CELG) struck a $485 million deal to acquire cancer drugmaking company Quanticel Pharmaceuticals, the company announced this morning. The deal between the two cancer specialists, has been nearly four years in the making, following a partnership established in 2011. The news of the acquisition sent Celgene’s stock up more […]

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Will Pfizer Make a Play for Struggling GlaxoSmithKline?

Almost a year after its $119 billion offer for AstraZeneca PLC (AZN) fell apart in the face of massive opposition from regulators and internal dissent, global drugmaker Pfizer Inc. (PFE) is once again being floated as a potential buyer of another marquee-name British pharmaceutical company: GlaxoSmithKline (GSK). A column in The Telegraph today said that […]

Merck & Co. Poised To Enter Oral HCV Market Dominated by Gilead and AbbVie

Merck & Co., Inc. (MRK), announced yesterday the first data from the company’s Phase II/III clinical trial dubbed C-SURFER for a once-daily treatment for patients with advanced chronic kidney disease (CKD) that are also infected with chronic hepatitis C virus (HCV) genotype 1 (GT1). The C-SURFER trial demonstrated that a 12-week regimen of NS3/4A protease […]

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Innate Pharma Strikes Cancer Pact Worth $1.275 Billion With Pharma Giant AstraZeneca PLC

Marseille, France-based Innate Pharma announced today that it had inked a co-development and commercialization deal with AstraZeneca (AZN) and MedImmune. MedImmune is a wholly owned subsidiary of AstraZeneca. The deal will focus on pushing the development of anti-NKG2A antibody, IPH2201, also in combination with MEDI4736, an anti-PD-L1 immune checkpoint inhibitor created by MedImmune. The compound, […]

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Perrigo Rejects $30B Mylan Bid, Says Deal “Substantially Undervalues” Irish Firm

Pittsburgh, Penn.-based Mylan Inc. (MYL)’s $30 billion unsolicited bid for generic drugmaker Perrigo Company (PRGO) has been rejected by the company, after Perrigo said late Tuesday that the offer “substantially undervalues” Perrigo and “its future growth prospects and “is not in the best interests of Perrigo’s shareholders.” “Perrigo has a long history of driving above […]