01:10 , Jun 26, 2019 |  BioCentury  |  Product Development

AbbVie chooses revenue over innovation with Allergan takeout

Six years after splitting from Abbott to pursue innovative drug development, AbbVie has taken a clear about-face, choosing a certain immediate revenue stream in its proposed acquisition of Allergan rather than opting for a riskier,...
22:54 , May 20, 2019 |  BC Extra  |  Company News

May 20 Company Quick Takes: LifeArc trades Keytruda royalties for $1.3B; plus Evotec-Just, Actelion-Owlstone, Genomind

LifeArc gets $1.3B for Keytruda royalties  U.K. medical research charity LifeArc sold an undisclosed portion of its royalties for Keytruda pembrolizumab to a subsidiary of the Canada Pension Plan Investment Board for $1.3 billion. LifeArc...
19:01 , Apr 26, 2019 |  BC Extra  |  Company News

Amgen, Astellas join list of biopharmas paying for alleged co-pay charity kickbacks

The Department of Justice said Thursday that Amgen and Astellas have agreed to pay $124.8 million combined to settle allegations of kickbacks to charitable patient assistance programs. Astellas Pharma Inc. (Tokyo:4503) will pay $100 million...
19:26 , Apr 5, 2019 |  BC Extra  |  Politics & Policy

DOJ releases details on biopharma settlements for alleged kickbacks to co-pay charities

Alexion has been added to the list of biopharma companies that have settled allegations of kickbacks to charitable patient assistance programs, according to a Department of Justice statement released Thursday. United Therapeutics Corp. (NASDAQ:UTHR), Actelion...
21:19 , Mar 28, 2019 |  BC Extra  |  Politics & Policy

Lawmakers launch probe into kickbacks to patient assistance programs

Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) are collecting information to expose any biopharma companies that are illegally providing kickbacks to exploit charitable patient assistance programs (PAPs). Senate Finance Committee Chairman Grassley and Ranking...
13:35 , Mar 22, 2019 |  BC Week In Review  |  Clinical News

Opsumit improves right ventricular function in PAH patients

Actelion Ltd. said Opsumit macitentan significantly improved right ventricular function and pulmonary vascular resistance at week 26 compared with baseline in the open-label Phase IV REPAIR trial in patients with symptomatic pulmonary arterial hypertension. The...
22:13 , Feb 22, 2019 |  BC Extra  |  Politics & Policy

China releases list of rare disease drugs with reduced VAT

China’s ministry of finance revealed a list of 21 rare disease drugs and four APIs which will be eligible for a reduction in value-added tax beginning March 1. The government will reduce the VAT on...
01:03 , Jan 12, 2019 |  BioCentury  |  Finance

Warning: cash needed

  A near decade-long run of cheap money appears to be coming to a close, and most of the biotech sector isn’t well positioned for the new reality. BioCentury’s analysis shows that two-thirds of biotech...
05:09 , Jan 5, 2019 |  BioCentury  |  Product Development

Bristol-Myers’ next phoenix act?

Bristol-Myers Squibb Co. will now be in the driver’s seat to monetize the assets gained from the myriad deals Celgene Corp. has forged. The pharma will need to mimic its history of using well-timed acquisitions...
04:44 , Nov 30, 2018 |  BC Week In Review  |  Company News

Deal with Idorsia gives Santhera shot at second DMD candidate

In a deal that will make Idorsia Ltd. (SIX:IDIA) its largest shareholder, Santhera Pharmaceuticals Holding AG (SIX:SANN) gained an option to exclusively in-license a second Duchenne muscular dystrophy candidate: vamorolone (VBP15). Santhera CEO Thomas Meier...