Puerto Rico's drug production sector has had an eventful few years, with investments by Eli Lilly, Bristol-Myers Squibb and others being offset by cutbacks at Merck and Pfizer. Now the island can add another line to its list of positive events: Actavis is investing $48 million to revitalize assets it acquired in the takeover of Warner Chilcott.
Bristol-Myers Squibb inked a pair of deals to broaden its immuno-oncology efforts: It will partner with Incyte in testing the latter's drug candidate INCB24360 with its own PD-1 drug nivolumab.
Following fast on the heels of two earlier immuno-oncology partnerships, Incyte has agreed to partner its prolific IDO inhibitor INCB24360 with Bristol-Myers Squibb's marquee PD-1 program for nivolumab. And with just days to go before the start of ASCO, Bristol-Myers also inked a biobucks-packed $1.24 billion deal with South San Francisco-based CytomX to broaden its pipeline of immuno-oncology drugs with up to four new clinical candidates spawned by its next-gen antibody development platform.
Bristol-Myers Squibb has won its second breakthrough therapy designation from the FDA inside a week. Just days after getting the FDA's elite status for its closely-watched anti-PD-1 drug nivolumab, the agency has followed up with a nod for elotuzumab, an experimental multiple myeloma therapy partnered with AbbVie and now in Phase III.
Bristol-Myers has one of the best drug development track records in the industry, and the big biotech is devoting major resources to its immuno-oncology lead. Bristol-Myers issued 5 new releases on nivolumab last night, and they all followed an early-morning statement on a new nivo combo study being mounted with Celldex.
Wednesday night's big round of ASCO news highlighted a few key memes with major implications for cancer drug development and everyone who works in the field. Overall, there were no big surprises in the news. And that's news in itself.
Given the eyebrow-raising cash component in Celgene's new deal with Nogra, we thought it would be fun to list the top 10 upfronts paid for experimental drugs, ranked simply according to the cash included in the upfront--no surer sign of what a company really thinks about the potential of an experimental therapy or portfolio.
Payers worried about hepatitis C drug prices have been counting on impending price competition to save them money. The idea is that, once Merck, AbbVie and Bristol-Myers Squibb have treatments on the market, Gilead Sciences will have to back off its $84,000-per-treatment-course sticker price. The reality could be a little better--and a little worse--than that.
After earning more than $200 million in nondilutive funding for its work on armed antibodies, La Jolla, CA-based Ambrx thinks this is the right time to catch the biotech IPO wave as it looks to raise another $86 million from investors.
While many drugmakers were marveling over Pfizer's big bid for AstraZeneca or speculating about which megadeal might come next, a few big pharma companies rolled out their first-quarter earnings reports. Let's give them their due. Besides, we can't be all deals, all the time. Here are the highlights--or, given the almost-uniform slide in sales, the lowlights.