After years of struggles and months of speculation, Novartis is finally kissing its vaccines unit goodbye. As part of a company-wide revamp, the Swiss drugmaker will send the division to the U.K., where GlaxoSmithKline will be waiting with open arms to take on a vaccines business that will give it an edge in meningitis and bolster its pipeline.
Shares of Cambridge, MA-based Epizyme jumped 10% this morning after the company announced that it had won a $4 million payment from GSK after hitting the third of the three histone methyltransferase targets in their collaboration.
Novartis CEO Joe Jimenez is on record saying he's "a big fan" of the company's consumer health business. But that doesn't mean he has to run it. The Swiss drugmaker gets to have its consumer health and hand it off, too, in a new joint venture with GlaxoSmithKline.
In an announcement full of surprises from Novartis and GlaxoSmithKline, the sale of the Swiss company's vaccines division to Glaxo may have been the least surprising part.
Why would GlaxoSmithKline sell most of its cancer business to Novartis? In today's deal announcement, that particular sale stands up for questioning.
Novartis, GlaxoSmithKline and Eli Lilly have hammered out a pact to swap, sell and partner on a group of four different divisions, realigning the corporate and marketing landscape for each of the big three pharma players.
While the chattering classes were chattering about a potential Pfizer-AstraZeneca merger yesterday, three other drug giants were putting the finishing touches on a big announcement. Novartis, whose strategic review has been making headlines for almost a year, agreed to swap some assets with GlaxoSmithKline and sell its animal health business to Eli Lilly.
AbbVie has asked a federal appeals panel to decide whether a new trial is really warranted in its case with GlaxoSmithKline over the price of an HIV drug. But the drugmaker was very careful to point out that it is not asking the court to disrupt any rights that gays and lesbians have achieved through a recent Supreme Court ruling.
Want to take a guess about which three new drugs are marked for greatness in 2014? One of them is obvious. Another, not so much. And the third isn't approved yet.
Galapagos and partner GlaxoSmithKline say their anti-inflammation candidate hit its mark in a mid-stage trial on psoriasis, a stroke of good news for a drug beset by developmental slipups.