Drug Sponsors

Dimension Therapeutics expands internal R&D

Thursday, November 5, 2015

Dimension Therapeutics, a gene therapy company advancing novel, liver-directed treatments for diverse rare diseases, plans to expand the company’s internal research and process development capabilities. Dimension has signed a lease agreement with Alexandria Real Estate Equities, for 17,475 square feet of state-of-the-art laboratory and office space at 19 Presidential Way in Woburn, Mass., with occupancy expected in April 2016. The expansion builds upon Dimension’s existing mammalian cell platform in Cambridge, and will support continued innovation in vector optimization and development of manufacturing processes required for IND-enabling studies and the reliable production of high-quality AAV vectors at commercial scale.

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Bristol-Myers Squibb to acquire Cardioxyl

Monday, November 2, 2015

Bristol-Myers Squibb will acquire all of the issued and outstanding capital stock of Chapel Hill, N.C.-based Cardioxyl Pharmaceuticals, a private biotechnology company focused on cardiovascular disease. The acquisition will give Bristol-Myers Squibb full rights to Cardioxyl’s lead asset CXL-1427, a novel nitroxyl (HNO) donor (prodrug) in phase II clinical development as an intravenous treatment for acute decompensated heart failure (ADHF).

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Illumina announces $250M share repurchase authorization

Monday, November 2, 2015

Illumina, a San Diego-based sequencing and array-based technologies provider, has announced that its board of directors has authorized the company to repurchase, on a discretionary basis, up to $250 million of its outstanding common shares in the open market or in privately negotiated transactions, subject to market conditions and other factors. The company also announced the completion of the existing discretionary authorization of $96 million that was repurchased since the company reported earnings on Oct. 20.

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Shire to acquire Dyax for $5.9B

Monday, November 2, 2015

Dublin-based Shire has announced it will acquire Dyax for $37.30 in cash per Dyax share, for aggregate upfront consideration of about $5.9 billion. Dyax shareholders may receive additional value through a non-tradable contingent value right (CVR) that will pay $4 in cash per Dyax share upon approval of DX-2930 in HAE, representing a potential additional $646 million in aggregate contingent consideration.

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Arena cuts 80 employees

Monday, November 2, 2015

Arena Pharmaceuticals, based in San Diego, has announced plans to improve efficiencies and reduce costs as it focuses on the advancement of its R&D priorities. As part of the initiative, Arena will reduce its U.S. workforce by about 80 employees or 35%, which Arena estimates will reduce annualized cash expenditures for personnel by about $11.0 million. Arena plans to implement additional cost control measures to further reduce its expenditures, including reductions at its Swiss manufacturing facility.

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Perrigo cuts 800 jobs

Friday, October 23, 2015

Perrigo has announced a $2 billion share repurchase plan. The plan includes $500 million in repurchases that will be completed by the end of 2015, and an additional $1.5 billion in repurchases that the company expects to complete over the subsequent 24 to 36 months, which are expected to be funded through available liquidity. Perrigo also will reduce its workforce by about 800 employees, or 6% of its current global headcount.

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