U.S. drugmaker Merck & Co. Inc. agreed to buy Peloton Therapeutics Inc. for $1.05 billion in cash, gaining access to the privately held company’s lead kidney cancer drug candidate.
Eli Lilly and Co. pulled ahead in a three-way race with Amgen Inc. and Teva Pharmaceutical Industries Ltd. in attracting new patients to a new class of migraine drugs, and seeks to build on that advantage by stressing that the company’s therapy can completely prevent headaches in a small percentage of patients.
The U.S. Food and Drug Administration approved Pfizer Inc.’s oral drug tafamidis to treat a rare and fatal heart disease called transthyretin amyloid cardiomyopathy.
Danish drugmaker Novo Nordisk beat first-quarter 2019 operating profit forecasts, helped by higher sales of the company’s biggest new drug hope, a treatment for type 2 diabetes.
Gilead Sciences Inc. said Kite Pharma Inc., the cancer-focused cell therapy company acquired in 2017, will become a separate business unit.
GlaxoSmithKline Plc said the company’s three-in-one drug Trelegy Ellipta met the main goal of a late-stage asthma study, signaling a possible boost to the British drugmaker’s lung medicines division.
In GlaxoSmithKline’s first-quarter 2019 report was an announcement that the global pharma giant cut the development of two vaccine programs – one for strep pneumonia and the other for a universal flu vaccine.
Teva Pharmaceutical Industries posted a slightly smaller than expected drop in first-quarter 2019 profit and forecast a sharp rise in 2020 revenue from the company’s new migraine drug Ajovy.
A recent report written by SVB Leerink analysts that looked at eight companies and their research-and-development portfolios found that in the past five years, they progressed only 24 percent of their new molecular entities to approval.