September 26, 2019 - BioPharma Dive
GlaxoSmithKline will spend $120 million to expand a biopharmaceutical manufacturing facility in Upper Merion, Pennsylvania, the latest investment made by the British pharma to support a push further into cancer and specialty drugs. The plant, which is located near Philadelphia, will initially focus on making "key pipeline assets" in GSK's drug pipeline, the drugmaker said in a Sept. 25 announcement. Although it did not name any specific experimental products, GSK has prioritized drugs in immunology and oncology.
September 24, 2019 - Fierce Pharma
Biocon already has a wide pipeline of biosim molecules and partnerships with global drugmakers. Now, it’s picked up a 60,000-square-foot R&D site from Pfizer to advance on its ambitions in biosimilars. The site at the TICEL Bio Park in Chennai, India, will house 250 scientists and will allow the company to “fast-forward development of our biosimilars from lab to pilot scale,” Biocon Biologics CEO Christiane Hamacher said in a
statement
.
September 23, 2019 - Fierce Biotech
Clovis Oncology has
paid
$12 million for rights to FAP-targeted radiopharmaceuticals in development at 3B Pharmaceuticals. The deal gives Clovis the ex-Europe rights to a cancer candidate that is set to enter the clinic in the second half of next year. In return for the $12 million upfront, plus milestones, Clovis has bagged rights to a peptide-targeted radionuclide therapy in most countries outside of 3B’s home region of Europe. The therapy is aimed at FAP, a target expressed in many epithelial cancers including most tumors of the breast and lung. Clovis will oversee a global clinical development program for the FAP asset.
September 23, 2019 - Fierce Pharma
Allergan encountered years of setbacks before AbbVie swooped in this summer to purchase the company for a whopping $63 billion. But one small-time Allergan investor isn’t happy with the deal—and wants to rally other investors in a class-action suit to block it. In a New Jersey lawsuit, shareholder YuanLan Swei says the proxy statement detailing AbbVie’s proposed Allergan buyout omits key info for shareholders and sets its top managers up for big payouts that could taint their decision-making about the deal.
September 23, 2019 - Fierce Pharma
How do U.S. life sciences companies’ CEOs plan to achieve growth objectives in the next few years? One word—deals—a recent survey by KPMG has found.
About 43% of U.S. biopharma CEOs have a “high appetite” for M&A, an increase from 33% a year ago, KPMG's annual Global CEO Outlook survey found. The poll, carried out with CEOs in a variety of business sectors, included 193 in life sciences and 44 based in the U.S. “Life sciences CEOs realize that it makes sense to find partners with capabilities in research to help bring products to market, whether that is through working with startups or venture partners or looking at technological solutions,” Carole Streicher, KPMG’s deal advisory leader for healthcare and life sciences, said in a statement.
