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Gilead Rumored to be Eying Achillion…Again

August 17, 2015By Mark Terry, BioSpace.com Breaking News Staff At least one analyst is again speculating that Foster City, Calif.-based Gilead Sciences, Inc. (GILD) may be ready to acquire New Haven, Conn.-based Achillion Pharmaceuticals, Inc. (ACHN). Given the company’s strong financial performance this year, many analysts believe Gilead is in the market for a strategic […]

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Mylan, Perrigo Notch Wins in Their Takeover Fight

Rival generic-drug makers Mylan NV and Perrigo Co. both chalked up wins this week in their hostile $36 billion takeover fight, which is heading into the homestretch. Mylan in April publicly bid for Perrigo, saying a combination would create a strong competitor in the quickly consolidating pharmaceuticals sector. Perrigo has rejected the price as too […]

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Endo Announces U.S. District Court Ruling Upholding OPANA ER Intellectual Property

DUBLIN, Aug. 14, 2015 /PRNewswire/ — Endo International plc (NASDAQ: ENDP) (TSX: ENL) today announced that the U.S. District Court for the Southern District of New York has issued a ruling upholding two Endo patents covering OPANA® ER, the Company’s opioid agonist indicated for the management of pain severe enough to require daily, around-the-clock, long-term […]

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Boston Scientific Cuts 455, Closes Two Facilities; Abbott Axes 244

Boston Scientific (NYSE:BSX) and Abbott (NYSE:ABT) are making cuts from their workforce, according to a California Warn notice report. Boston Scientific is slated to cut 455 employees as it closes 2 facilities in the Fremont and San Jose areas. The company said it is moving the operations to a manufacturing facility in Costa Rica. Help […]

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Largest Insulin Maker Novo Nordisk A/S May Build New Facility in the U.S.

Novo Nordisk (NVO), the world’s largest maker of insulin for diabetics may expand its manufacturing operations to the United States, Bloomberg Business reported this morning.   If a U.S. site is built, the facility will focus on manufacturing semaglutide, a medication for type 2 diabetes, Bloomberg said. During an interview with Lars Soerensen, Novo Nordisk’s […]

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Avalanche drops eye drug trial, takes it back to lab

Drug developer Avalanche Biotechnologies Inc said it would not start a second mid-stage study of its eye drug, which showed only a modest improvement in vision in the first study. Avalanche’s shares fell 15 percent in extended trading on Thursday after closing at $13.83. The drug developer said it was stepping back from clinical trials […]

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Rumors Heat Up (Again) That Pfizer Will Buy GlaxoSmithKline

Ever since Pfizer Inc. (PFE)’s $119 billion bid for UK-based AstraZeneca PLC (AZN) collapsed in May 2014, analysts have speculated on who Pfizer might buy. For several months now, heating up at the moment, those rumors have been that Pfizer might take a shot at UK-based GlaxoSmithKline (GSK).   The speculation over a Pfizer-GSK deal […]

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Could Gilead Be Biotech’s Biggest Bargain?

Gilead Sciences (NASDAQ:GILD) shares may have rallied 24% this year, but better-than-expected sales and profit have led to analysts ratcheting up their EPS forecasts for next year and that’s kept a lid on its valuation. Given that Gilead Sciences’ forward P/E is below 10 and its shares are 5% off their June highs, the stock […]

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Juno Therapeutics Loss Widens

Juno Therapeutics Inc.’s second-quarter loss widened as the biopharmaceutical company logged higher expenses as it ramps up operations following its December initial public offering.   Research-and-development expenses surged to $60.2 million in the latest period, compared with $6.5 a year earlier, while acquisitions accounted for $77 million of spending in the latest period. Shares, down […]

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AbbVie to seek approval for potential blockbuster leukemia drug

AbbVie Inc on Wednesday said its experimental treatment for a form of leukemia associated with a gene mutation met its primary goal in a mid-stage trial and that the company would seek U.S. approval of the medicine, which analysts have said has blockbuster sales potential. AbbVie, which is developing the drug venetoclax with Switzerland’s Roche […]

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