Drug Sponsors

Pfizer to acquire Medivation for $14B

Monday, August 22, 2016

Pfizer and Medivation have entered into a definitive merger agreement under which Pfizer will acquire Medivation, a biopharmaceutical company focused on developing and commercializing small molecules for oncology, for $81.50 a share in cash for a total enterprise value of approximately $14 billion.

[Read More]

Cerulean reduces workforce

Friday, August 19, 2016

Cerulean Pharma, a clinical-stage company developing nanoparticle-drug conjugates (NDCs), is reducing its workforce by approximately 48%, to a total of 23 full-time equivalent employees, under a plan expected to be substantially completed by the end of 2016. This workforce reduction is designed to reduce operating expenses while the company refocuses its clinical strategy for CRLX101. Affected employees are being offered severance and outplacement assistance.

[Read More]

10 Tips for Enabling Better CRO-Sponsor Collaborations

Thursday, August 18, 2016

By Craig Morgan, brand development director at goBalto Inc.

By 2020[1] 72% of clinical trials are anticipated to be outsourced, up from just 23% in 2012. Sponsors are seeking cost reductions, access to specialized knowledge, and increased speed and agility. Meanwhile, CROs focus is on business goals related to economic outcomes for their owners, investors and shareholders. Each group is expecting deliverables and timelines to be met or exceeded for potentially different business reasons, leading to a traditional client/vendor-type relationship. Though alliances and partnerships are increasing, there continues to be a client/vendor mentality at the operational and management levels, which perpetuates a lack of trust and empowerment.

[Read More]

Allergan to expand in New Jersey, to create 300 jobs

Tuesday, August 16, 2016

The Board of the New Jersey Economic Development Authority (EDA) has approved Grow New Jersey (Grow NJ) tax credits to encourage the global pharmaceutical company Allergan, the U.S. subsidiary of Ireland-based Allergan, to remain in New Jersey and combine four existing company locations into a 431,495-square-foot facility in Madison. 

[Read More]

Mallinckrodt to acquire Stratatech

Monday, August 15, 2016

Mallinckrodt, a global specialty pharmaceutical company, has entered into a merger agreement with Stratatech, a privately held regenerative medicine company focused on the development of unique, proprietary skin substitute products. Developmental products include StrataGraft regenerative skin tissue and a technology platform for genetically enhanced skin tissues. Financial terms of the transaction were not disclosed.

[Read More]

GSK and Verily’s Galvani Bioelectronics forges ahead, ushering in a new era of medicine

Monday, August 8, 2016

Galvani Bioelectronics, a newly established company launched by GlaxoSmithKline (GSK) and Verily Life Sciences (formerly Google Life Sciences), will explore a new wave of science. Galvani Bioelectronics will focus on the development of bioelectronic medicine: the use of implantable devices to modify the electrical signals that nerve cells use to communicate within the body.

[Read More]

Myriad to acquire Assurex Health

Thursday, August 4, 2016

Myriad Genetics, a leader in molecular diagnostics and personalized medicine, has signed a definitive agreement to acquire Assurex Health, a global leader in genetic testing for psychotropic medicine selection, for $225 million upfront with the potential for $185 million in additional performance-based milestones. Assurex generated revenue of more than $60 million and tested more than 150,000 patients in Myriad’s fiscal year 2016.

[Read More]