Drug Sponsors

Novartis cuts pharmaceutical division in half

Friday, May 20, 2016

Novartis has announced changes to focus its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology. These business units will form the Innovative Medicines Division at Novartis. The leader of each business will join the Executive Committee of Novartis (ECN) effective July 1, 2016. Paul Hudson will be appointed CEO, Novartis Pharmaceuticals, and Bruno Strigini will become CEO, Novartis Oncology. Both will report directly to Joseph Jimenez, CEO of Novartis. With these changes, David Epstein, currently Division Head and CEO, Novartis Pharmaceuticals, has decided to leave Novartis. 

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Pfizer to acquire Anacor for $5.2B

Monday, May 16, 2016

Pfizer and Anacor Pharmaceuticals have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of approximately $5.2 billion, which assumes the conversion of Anacor’s outstanding convertible notes. The Boards of Directors of both companies have unanimously approved the transaction. Anacor’s flagship asset, crisaborole, a differentiated non-steroidal topical PDE4 inhibitor with anti-inflammatory properties, is currently under review by the FDA for the treatment of mild-to-moderate atopic dermatitis, commonly referred to as eczema.

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Alizé Pharma II acquired by Jazz Pharmaceuticals

Monday, May 16, 2016

A subsidiary of Jazz Pharmaceuticals has acquired 100% of the shares of Alizé Pharma II. This all-cash transaction closed in March 2016. The deal is valued at up to €18 million ($20.4 million), including an upfront payment of €8 million and potential payments of up to €10 million related to regulatory milestones. The transaction did not involve the transfer of any employees from the Alizé Pharma group to Jazz Pharmaceuticals.

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Mylan to acquire Renaissance’s Specialty and Generics Business for $1B

Monday, May 16, 2016

Mylan has announced an agreement to acquire the non-sterile, topicals-focused specialty and generics business of Renaissance Acquisition Holdings for $950 million in cash at closing, plus additional contingent payments of up to $50 million, subject to customary adjustments. The transaction is expected to be immediately accretive to Mylan’s adjusted diluted earnings per share upon closing.

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PureTech, Siddhartha Mukherjee launch Vor BioPharma

Wednesday, May 11, 2016

PureTech Health has launched Vor BioPharma, an immuno-oncology company dedicated to developing a new class of targeted cell therapies. The company, which is advancing a novel approach to chimeric antigen receptor (CAR) T-cell therapy, has licensed its core technology from the lab of Vor scientific co-founder, Siddhartha Mukherjee, M.D., Ph.D., assistant professor of Medicine at Columbia University and Pulitzer Prize-winning author of The Emperor of All Maladies: A Biography of Cancer.

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Orchard Therapeutics launches, partners on transformative gene therapies

Monday, May 9, 2016

Orchard Therapeutics, a clinical-stage biotechnology company with operations in London and the U.S., has officially launched with a £21-million Series A financing led by F-Prime Capital. As part of its launch, the company has announced formal partnerships with University College London (UCL), Great Ormond Street Hospital for Children NHS Foundation Trust (GOSH), the University of Manchester, the University of California Los Angeles (UCLA) and Boston Children’s Hospital for the development of transformative gene therapies for serious and life-threatening orphan diseases.

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