Shares of Menlo Park's Pacific Biosciences of California are up 25% on a report that Big Pharma (and diagnostics) player Roche is interested in acquiring the provider of gene sequencing technology.
Roche pharma chief Daniel O'Day expects payers to continue piling on the pressure when it comes to drug pricing. He just doesn't expect it to affect his company's cancer stars anytime in the near future.
Don't expect Roche's cancer drugs to get caught in the crosshairs as payers ratchet up the pressure on drug prices, the company's head of pharmaceuticals, Daniel O'Day, told Reuters.
Japan was a standout for Roche in 2015, but a combination of price cuts for cancer therapy Avastin (bevacizumab) there and lower Tamiflu sales will show up in early 2016.
Roche counts on its tried-and-true cancer drugs Rituxan, Avastin and Herceptin to bring home the bacon, and the meds did not disappoint in 2015. But despite the drugs' strong performance, Roche still missed on profits last year, disheartening news for the company as it readies itself for biosimilar competition to some of its top sellers.
AbbVie and Roche's venetoclax has received yet another accelerated review from the FDA--this time in patients with the most common type of acute leukemia.
The Supreme Court of India will allow a scientist to join the patent case involving Indian drug giant Cipla which had earlier been found to have violated the Roche patent on its Tarceva (erlotinib) cancer drug.
Chipmaker Qualcomm is reportedly talking to GlaxoSmithKline about setting up a $1 billion joint venture. The deal, reports of which were posted by two financial publications, would mark a continuation of Qualcomm's drive to tighten its ties to biopharma, which was given impetus last year when it set up a VC fund with Novartis and inked a deal with Roche.
Predicting the future--particularly when it comes to Big Pharma's prospects for growth and earnings--is a favorite pastime among industry-watchers. Even better when the predictions come from analysts who've dug deeply into company numbers and documents. Bernstein's Tim Anderson and his team did just that, and their conclusions are part of a new research report to investors.
AbbVie and Roche's cancer drug venetoclax, awaiting FDA approval, picked up another breakthrough therapy nod from the agency for its potential as part of a combination treatment for leukemia.