For the past 20 years, Novartis has held a 33 percent stake in Roche, the company’s Basel, Switzerland neighbor. Now, Novartis has divested the Swiss drugmaker’s one-third stake to Roche for $20.7 billion.
Johnson & Johnson on Oct. 19 reported lower-than-expected quarterly revenue after sales of the company’s Covid-19 vaccine missed Wall Street estimates following a string of production setbacks.
Merck & Co. is buying Acceleron Pharma Inc. for about $11.5 billion, broadening the company’s portfolio beyond the aging cancer drug Keytruda with potential treatments that could bring in fresh revenue.
A U.S. appeals court on Aug. 26 threw out a $1.2 billion ruling against Gilead Sciences Inc., finding a patent on a cancer therapy the company was accused of infringing was invalid, in a blow to rival Bristol Myers Squibb Co.
Pfizer is buying Toronto and Cambridge, Massachusetts-based Trillium Therapeutics in a deal worth $2.26 billion. Trillium focuses on developing a new set of checkpoint inhibitors to treat cancer.
The Securities and Exchange Commission (SEC) is charging Matthew Panuwat – a former business development executive at Medivation – with insider trading, according to a complaint filed in court stemming from Pfizer’s acquisition of Medivation in 2016.
Shares of bluebird bio were down more than 24 percent after the company announced that the U.S. Food and Drug Administration placed a clinical hold on studies of the gene therapy elivaldogene autotemcel (eli-cel) for cerebral adrenoleukodystrophy (CALD).
After receiving a Complete Response Letter (CRL) from the U.S. Food and Drug Administration for the New Drug Application for tenapanor for control of serum phosphorus in adults with chronic kidney disease on dialysis, Waltham, Mass.-based Ardelyx is restructuring to save money.
Second-quarter 2021 sales of AstraZeneca’s Covid-19 vaccine more than tripled to $894 million from the first quarter, but the drugmaker on July 29 again delayed the U.S. application for approval as the company gathers more data for submissions.
The first half of 2021 saw a flurry of IPOs as multiple companies make the move to become publicly traded.