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,...
00:47 , Feb 1, 2019 |  BC Week In Review  |  Company News

AbbVie loses $8B in market cap on steeper Humira erosion

AbbVie Inc. (NYSE:ABBV) lost $5.34 to $80.54 on Jan. 25, representing a loss of almost $8 billion in market cap, after announcing it expects a higher rate of erosion in ex-U.S. sales on autoimmune drug...
22:32 , Jan 25, 2019 |  BC Extra  |  Company News

AbbVie loses $8B in market cap on steeper Humira erosion

AbbVie Inc. (NYSE:ABBV) lost $5.34 to $80.54 on Friday, representing a loss of almost $8 billion in market cap, after announcing it expects a higher rate of erosion in ex-U.S. sales on autoimmune drug Humira...
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...
20:15 , Dec 21, 2018 |  BC Week In Review  |  Financial News

Summit proposes $25M private placement

Summit Therapeutics plc (LSE:SUMM; NASDAQ:SMMT) proposed on Dec. 17 to raise $25 million in a private placement from Robert Duggan, CEO of Duggan Investments, who would own a 49% stake in the company following the...
22:51 , Apr 6, 2018 |  BioCentury  |  Finance

Picking season

  Macroeconomic risks, surging volatility and a tail-off in the M&A market since January have done little to change the buyside’s strategy of overweighting small- and mid-cap biotechs. In fact, the 12 investors who spoke...
18:40 , Mar 23, 2018 |  BC Week In Review  |  Financial News

CASI raises $50M in private placement

Cancer company CASI Pharmaceuticals Inc. (NASDAQ:CASI) raised $50 million on March 20 in a private placement through the sale of 15.4 million shares and accompanying warrants to purchase an additional 6.2 million shares at a...
23:33 , Oct 6, 2017 |  BC Extra  |  Company News

Management tracks: Impel, InGeneron

Drug delivery company Impel NeuroPharma Inc. (Seattle, Wash.) named Jon Congleton president and CEO. He was president and CEO at Nivalis Therapeutics Inc. , which merged with Alpine Immune Sciences Inc. (NASDAQ:ALPN). Regenerative medicine company...
02:01 , Jun 10, 2017 |  BioCentury  |  Product Development

Out-thinking industry

Some of the most innovative thinking on display at this year’s American Society of Clinical Oncology meeting came not from cancer companies, but from FDA and groups of oncologists and patient advocates who are busy...
23:52 , Feb 24, 2017 |  BC Extra  |  Company News

Xynomic licenses AbbVie’s abexinostat

Xynomic Pharmaceuticals Inc. (Cheyenne, Wyo.) said it gained exclusive, worldwide rights to develop and commercialize oncology candidate abexinostat from AbbVie Inc. (NYSE:ABBV). Xynomic said it plans to start Phase III trials of the histone deacetylase...