By Maureen Martino Endo Pharmaceuticals’ CEO David Holveck, a Johnson & Johnson alum, is modeling his company after the Big Pharma. Gabelli & Co analyst Kevin Kedra notes that Lidoderm–a patch to treat post-shingles nerve pain–will account for 47 percent of Endo’s 2010 sales. Faced with the the loss of patent protection for it’s main drug in …
By Maureen Martino GlaxoSmithKline is paying UK-based Vectura group $31.8 million dollars to license Vectura’s dry powder drug formulation patents in relation to two late stage development compounds in GSK’s respiratory drug pipeline. The drugmaker gets will receive up to £20 million ($31.8 million) in up-front and milestone payments, and Vectura could also earn up …
By John Carroll Ask just about any biotech CEO about licensing strategies and you can almost guarantee that at some point the chief will mention that the best deal valuations come after the developer has a solid set of proof-of-concept data. But the Wall Street Journal’s Jason Douglas writes that the shopworn biotech strategy no longer …
By Tracy Staton Now that Sanofi-Aventis (NYSE: SNY) and Genzyme (NASDAQ: GENZ) are officially negotiating, deal fever is giving way to deal worry. As we reported yesterday, investors on the Sanofi side worry that the French drugmaker will pay too much for U.S.-based Genzyme, while Genzyme’s shareholders worry Sanofi won’t pay enough. Now, Reuters is offering some quantitative …
Cardioxyl Pharmaceuticals has rounded up $15 million and positive early-stage safety data, positioning the start-up developer for a mid-stage clinical trial of its lead therapy for cardiovascular disease. Aurora Funds and New Enterprise Associates provided the fresh infusion of cash. Researchers investigated CXL-1020 in 28 patients at seven sites, citing positive safety and tolerability results …
By Tracy Staton Sanofi-Aventis CEO (NYSE: SNY) Chris Viehbacher (photo) wants to escape patent tyranny. In a business in which intellectual property is challenged, defended, validated and invalidated–and billions lost or gained along the way–Viehbacher has had enough. Or so he tells two reporters in separate interviews yesterday. In the spotlight because of his potential buyout of Genzyme, Viehbacher …
By Maureen Martino Sanofi CEO Chris Viebacher (photo) wants his company to avoid the peaks and valleys that come with blockbuster drugs such as Lovenox, a $2 billion-a-year anti-clotting drug that’s now facing generic competition. Instead, he’s looking at emerging markets, consumer health products and generic medicines to help boost revenue, as well as focusing more on deals …
By Maureen Martino Milestone payments are becoming an increasingly familiar aspect of many biotech deals, notesReuters, as buyers try to mitigate the risks inherent with big purchases. Take Celgene’s $2.9 billion buyout of Abraxis; the biotech giant set aside $650 million in milestone payments if Abraxis’ key drug Abraxane hit certain goals. “These structures are a great …
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