August 26, 2019 - BioPharma Dive
An Oklahoma judge on Monday ordered Johnson & Johnson to pay $572 million after finding the pharmaceutical giant's marketing of prescription opioid painkillers in the state helped contribute to an ongoing crisis of addiction and overdoses. "The opioid crisis has ravaged the state of Oklahoma. It must be abated immediately," said state court judge Thad Balkman in announcing his verdict, according to video posted by CNBC. J&J said it will appeal the ruling and denied that it caused the opioid crisis in Oklahoma. The $572 million in damages ordered by Balkman were substantially less than the $17 billion sought by the state and the several billions of dollars expected by investors on Wall Street. Shares in J&J, as well as several other opioid drugmakers, rose in post-market trading Monday.
August 27, 2019 - Outsourcing Pharma
Cognate BioServices closes a round of growth capital from EW Healthcare Partners to secure its capabilities for the commercialization of advanced cellular therapies.
August 27, 2019 - Fierce Biotech
GlaxoSmithKline has
licensed
Ionis Pharmaceuticals’ antisense hepatitis B medicines for $25 million. The deal, which is part of the long-running relationship between the companies, comes shortly after GSK achieved clinical proof of concept for the Ionis-partnered hepatitis B program. GSK began working with Ionis in 2010 and, while it gave away Tegsedi and another asset in 2017, has retained ties to the antisense specialist over that period. The 2010 deal gave GSK a chance to license assets covered by the six-program agreement once they reached phase 2 proof of concept.
August 27, 2019 - Outsourcing Pharma
As the industry focuses on modernizing clinical research, Thread is set to continue expanding its virtual research platform after today announcing its acquisition by strategic investors, says company executive.
August 28, 2019 - BioPharma Dive
Purdue Pharma and its owners the Sackler family are in discussions to settle thousands of lawsuits claiming the company's prescription painkillers fueled an opioid crisis in the U.S., and have reportedly offered to pay between $10 and $12 billion under a potential deal first reported by NBC News. "Purdue believes a constructive global resolution is the best path forward, and the company is actively working with the state attorneys general and other plaintiffs to achieve this outcome," a company spokesperson said Wednesday in a statement to BioPharma Dive. Opioid manufacturers have reached deals with state and county governments before, but none have yet resolved all claims through a global settlement as Purdue is now discussing. In March, Purdue agreed to pay $270 million in a deal with the state of Oklahoma, resolving claims made against it in a case that had also named Teva and Johnson & Johnson.
