Xenoport Inc said it would stop developing on its own a drug that showed high rates of side effects in a study and instead focus on its treatment for restless leg syndrome. The company also said on Thursday that Ronald Barrett, its chief executive since 2001, has stepped down and will be succeeded by Chief […]

U.S. antitrust enforcers will not appeal a court ruling that said U.S. medical technology provider Steris Corp could proceed with a merger with British sterilization services provider Synergy Health Plc, a Federal Trade Commission spokesman said on Thursday. The FTC filed a lawsuit in May aimed at stopping the proposed transaction, saying it would hurt […]

The U.S. Food and Drug Administration approved Bristol-Myers Squibb Co’s immunotherapy drug combination to treat a form of skin cancer, setting the tone for other companies developing similar cocktails. This is the first time the FDA has approved a combination of two immuno-oncology drugs, Bristol-Myers said on Thursday, adding that the treatment will be available […]

BERKELEY, Calif. – Swiss-based Novartis AG (NVS) struck a deal worth more than $500 million with XOMA Corporation (XOMA) to acquire rights to the company’s anti-transforming growth factor-beta (TGFb) antibody program, Xoma announced this morning. Under terms of the deal, Xoma will receive $37 million in upfront payments, with the remaining $480 million in regulatory […]

Israel-based MediWound has signed a five-year, $112 million contract with the U.S. authority that handles public health medical emergencies to further develop and buy the company’s drug treatment for severe burns. Investment group Clal Biotechnology, which has a 45 percent stake in MediWound, said in a statement that the deal with the Biomedical Advanced Research […]

Eli Lilly and Co and Incyte Corp said their experimental drug was found to be more effective in treating rheumatoid arthritis than a commonly prescribed medicine, in a late-stage study. The drug, baricitinib, reduced signs and symptoms of the inflammatory disorder better than the decades-old treatment, methotrexate, after 24 weeks, the companies said on Tuesday. […]

Democratic lawmakers on Monday attacked “massive” price increases of two heart drugs by Canada’s Valeant, fueling a rout in drugmaker shares on worries of a government and insurer clampdown on U.S. drug prices. All 18 Democratic members of the House of Representatives Committee on Oversight and Government Reform urged their chairman to subpoena Valeant Pharmaceuticals […]

Shares in Novo Nordisk (NOVOb.CO) rose as much as 5 percent on Monday after the U.S. Food and Drug Administration (FDA) approved the diabetes drug Tresiba, allowing the Danish drugmaker to prepare its largest ever drug launch.   The FDA’s decision late on Friday came two years after it had rejected the long-acting form of […]

August 5, 2015By Mark Terry, BioSpace.com Breaking News Staff After Dublin-based Shire (SHPG) publicly announced its intentions of buying Illinois-based Baxalta (BXLT) yesterday in an attempt to convince shareholders to pressure management into considering the deal, analysts are speculating on what a merged Shire and Baxalta would look like. On July 10, 2015, Shire approached […]