Pfizer Inc.’s $11.6 billion deal for migraine specialist Biohaven Pharmaceutical has kindled expectations on Wall Street that the transaction may usher in more buyouts as cash-flush drugmakers look to snap up beaten-down smaller biotechs.
Pfizer Inc. said on May 10 the company will pay $11.6 billion to buy Biohaven Pharmaceutical Holding Co., making a big bet on its ability to boost sales of the top-selling pill in a new class of migraine drugs.
Merck & Co. is buying Acceleron Pharma Inc. for about $11.5 billion, broadening the company’s portfolio beyond the aging cancer drug Keytruda with potential treatments that could bring in fresh revenue.
Novartis said the company’s Kymriah CAR-T therapy did not meet the drug’s primary endpoint of event-free survival in a phase III study in patients with aggressive B-cell non-Hodgkin lymphoma (NHL) after relapse or lack of response to first-line treatment.
Biogen Inc. on July 8 said the U.S. Food and Drug Administration narrowed use of the company’s Alzheimer’s drug after the regulatory agency drew sharp criticism for its broad approval of the drug in June 2021 without proof of clear benefit against the disease.
U.S. regulators on June 7 approved Biogen Inc.’s aducanumab as the first treatment to attack a likely cause of Alzheimer’s disease despite controversy over whether the clinical evidence proves the drug works, sending the company’s shares soaring.
The U.S. Food and Drug Administration approved Bristol Myers Squibb’s oral drug Zeposia to treat adults with ulcerative colitis, a chronic inflammatory bowel disease.
Clarivate published the company’s annual “Drugs to Watch” list, and cited several medicines that the analysts expect to be blockbusters – projected to bring in $1 billion in sales annually.
Biogen will take a $650 million stake in Sage Therapeutics and make an upfront payment of $875 million to jointly develop and sell treatments for depression and other neurological disorders.
Biogen Inc.’s shares slumped as the drugmaker’s chances of getting a regulatory approval for the experimental Alzheimer’s treatment aducanumab suffered a blow after a panel of experts to the U.S. Food and Drug Administration voted against the medicine.