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ImmunoGen Culls 220 Employees

ImmunoGen shares fell after the company announced the slashing of 220 employees as part of an effort to reduce ongoing expenses while recovering from an FDA rejection of an ovarian cancer drug.

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AbbVie Makes ‘Transformational’ Move with $63 Billion Acquisition of Allergan

Illinois-based AbbVie announced that the company will acquire Ireland-based Allergan for $63 billion in a cash and stock deal.

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Akorn gets another FDA warning letter, shares slide

Akorn Inc. received a warning letter from the U.S. Food and Drug Administration regarding a manufacturing facility in New Jersey, the latest in a string of setbacks for the generic drugmaker, sending the company’s shares down nearly 13 percent.

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Bristol-Myers plans to divest Celgene’s psoriasis drug

Bristol-Myers Squibb Co. offered to divest Celgene Corp.’s psoriasis treatment Otezla to allay concerns raised by the U.S. competition regulator, and pushed back the closing of their $74 billion deal.

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Catalyst Pharma sues FDA over approval of cheaper rival drug

Catalyst Pharmaceuticals Inc., under fire for a high price tag on a rare disease drug, sued the U.S. Food and Drug Administration to challenge the recent approval of a lower-cost rival medicine.

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Insys Therapeutics Files for Bankruptcy

Days after agreeing to pay nearly $225 million in additional fines to the U.S. government for fraudulent marketing schemes to boost sales of the opioid Subsys, Insys Therapeutics filed for bankruptcy.

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Mallinckrodt to settle U.S. drug marketing probe, fight kickback case

Mallinckrodt Plc tentatively agreed to pay $15.4 million to resolve a U.S. Justice Department probe into how a drugmaker that the company now owns marketed an expensive treatment for a rare infant seizure disorder and multiple sclerosis.

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Bayer teams up with biotech firm Arvinas in deal worth up to $750 million

German drugmaker Bayer signed an alliance with Arvinas Inc. to gain access to the U.S. biotech firm’s experimental protein drugs and crop protection technology in a deal worth up to $750 million.

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Novartis’ breast cancer treatment wins FDA approval

The FDA approved Novartis AG’s Piqray in combination with a hormone therapy for postmenopausal women, as well as for men, with a form of advanced breast cancer.

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Shares of BioCryst Fall After Phase III HAE Drug Underwhelms Investors

Shares of North Carolina-based BioCryst Pharmaceuticals were down more than 53 percent after the company released data from a Phase III trial that underwhelmed analysts.

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June 2019 Focus: Payer access, biotech/biopharma, DTC, rare diseases, and more!

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