Two weeks after the pharmaceutical industry predicted dire consequences for innovation if the prescription price reduction plan proposed by House Speaker Nancy Pelosi passes, the White House echoed those concerns but suggested even worse outcomes than industry analysts predict.
Tokyo-based Astellas Pharma announced plans to acquire San Francisco-based Audentes Therapeutics for $60 per share in cash, representing a total equity value of about $3 billion.
Ardelyx Inc.’s experimental medicine tenapanor showed promise in a late-stage study as a standalone therapy to reduce elevated blood phosphate levels in patients with chronic kidney disease (CKD).
Some analysts are checking their crystal balls to get an idea if 2020 will be a busy year for investors, and the early thinking on biotech is yes.
CymaBay Therapeutics Inc. is scrapping two mid-stage trials of the liver disease drug seladelpar after biopsies found a type of liver damage in some patients, sending the company’s shares down more than 75 percent.
The U.S. Food and Drug Administration declined to approve Adamis Pharmaceuticals Corp.’s opioid overdose treatment Zimhi, sending the company’s shares plunging 56 percent.
AstraZeneca shares rose 2.7 percent after the British drugmaker won earlier-than-expected U.S. regulatory approval for a leukemia drug, in a challenge to rival AbbVie.
Alnylam Pharmaceuticals Inc. priced the company’s gene silencing drug to treat patients with a rare genetic disorder that can cause severe pain at $575,000 per year after receiving an early U.S. approval.
BeiGene Ltd. priced the China-based drugmaker’s Brukinsa to treat a rare form of lymphoma at $12,935 for a 30-day supply.
The FDA approved BeiGene Ltd.’s lymphoma treatment Brukinsa, validating the China-based drugmaker’s strategy of largely using data from clinical trials held outside the U.S. to file for approval.
