Amgen reported today that its late-stage cancer drug trebananib missed the goal on a significant improvement for overall survival among patients suffering from platinum-resistant ovarian cancer. These new data follow a successful hit on the goal for progression-free survival.
Xencor has reacquired the rights to an Amgen-optioned antibody, walking away from the Big Biotech and an arthritis indication with hopes of a new path in rare disease.
Biopharma giants Amgen, Sanofi and Ono have joined a group of international academics to flesh out a promising but underexplored field of drug development, planning to share their discoveries with the public in hopes of galvanizing global R&D.
Amgen has concluded that its original plan to cut 12% to 15% of its global staff wasn't nearly as ambitious as it should have been. The big biotech put out the word today that it is now planning to chop 20% of its employee roster--a move that will shave up to 1,100 more jobs on top of the 2,900 layoffs already in the works.
GlaxoSmithKline said today it is considering a spinoff of ViiV, the successful HIV-centric business it shares with Pfizer and Shionogi. Its talk of unlocking the "intrinsic" value of the business mirrored the language a hedge fund investor used hours earlier to suggest that Amgen do much the same thing, breaking into two companies, one for legacy drugs and one for new launches.
Hedge fund manager Daniel Loeb is lending his voice to the chorus of investors who believe Amgen would do better as two companies. And his firm, Third Point, has upped its stake in the Big Biotech, giving him a bigger stage from which to pressure executives.
Sanofi and Regeneron have cut to the front of the line in the race to develop a new class of cardio drugs, but now rival Amgen has made a chess move of its own, filing a patent-infringement lawsuit designed to block its rivals from reaching what's expected to be a blockbuster market.
The market for Humira is a large one: the med raked in $11.02 billion last year to top the list of the world's best-selling drugs. So it's no surprise that biosimilar developers are going after a piece of that market--including Amgen, which released some head-to-head data last week that could help it make its regulatory case.
Amgen is angling for an early FDA nod for the leukemia treatment blinatumomab, racing to market with what the company hopes will be the first of many cancer therapies derived from its proprietary T cell platform.
Amgen has taken a big stride toward gaining regulatory approval for its biosimilar of Humira, AbbVie's megablockbuster anti-inflammatory. The Big Biotech reports today that its knockoff of Humira--dubbed ABP 501--hit its marks on equivalency for efficacy and safety for treating plaque psoriasis.