February 27, 2020 - Fierce Biotech
What if a single drug treatment could thwart not only the current outbreak of the coronavirus COVID-19, but also similar viruses that cause everything from the common cold to foot and mouth disease? Scientists at the University of Lubeck in Germany believe it’s possible, and they say have enough evidence from cell-based studies to move one promising compound into animal trials.
The German team found two molecules that target a protein-cutting enzyme that many viruses, including COVID-19, need to replicate. In cell studies, one of the compounds blocked multiple coronaviruses and enteroviruses, including the pathogen that caused the 2003 SARS outbreak, and the other was effective against MERS, they
reported
in the journal of Medicinal Chemistry.
February 25, 2020 - Fierce Pharma
British drugmaker AstraZeneca has spent much of the past few years in asset-sale mode, offloading of a range of its specialty products in return for extra cash to plow into areas such as oncology. Now, AstraZeneca has agreed to divest the rights to one of its GI meds in a move the acquirer is calling a "transformative event" for its business.
AstraZeneca has
pawned off
most of its global rights for GI med Movantik to Tel Aviv- and North Carolina-based RedHill Biopharma in a deal valued at $67.5 million, the drugmaker said Tuesday.
February 24, 2020 - Fierce Biotech
Grifols has
struck
a deal to buy assets from bankrupt antibiotic developer Aradigm. The agreement sees Grifols waive a $32 million debt and pay $3 million in cash to take full ownership of three assets.
California-based Aradigm hit the skids in 2018 when the FDA knocked back a filing for approval of inhaled antibiotic ciprofloxacin and asked the biotech to run a two-year phase 3 trial before trying again. Grifols helped Aradigm reach that point, funding late-phase development in non-cystic fibrosis bronchiectasis, taking a 48% stake in the biotech and making a $20 million convertible notes buy.
February 24, 2020 - Fierce Pharma
Hamstrung by opioid lawsuits and mounting debt, opioid maker Mallinckrodt has spent the past few months taking a hard look at bankruptcy to help cover its debts. Now, with a massive opioid settlement in the works, Mallinckrodt's specialty generics business will enter court-supervised restructuring to help secure its hefty payments.
