| Glaxo Tries a Linux Approach GlaxoSmithKline is applying open-source principles in an effort to help find a drug for malaria, providing to the public the designs behind 13,500 chemical compounds and seeking input from outsiders. online.wsj.com |
Abbott to Pay Neurocrine Up to $575 Million Abbott Labs agreed to pay as much as $575 million as part of a deal to help develop and commercialize Neurocrine Biosciences' endometriosis treatment. online.wsj.com |
Vertex: At the Finish Line for a Hepatitis C Cure Prohost Biotech submits:When an investigational drug proves it can eradicate a virus we call it a breakthrough. The nearest to approval of the expected breakthroughs is Vertex’s (VRTX) drug telaprevir, a specific hepatitis C virus protease inhibitor. The drug was a blessing for the infected victims who had it in clinical trials. It brought a miracle happy ending to what seemed to be an endless nightmare of acute liver inflammation, chronic liver inflammation, liver cirrhosis, liver transplant and possible liver cancer. We expected telaprevir to be greeted positively by the government and insurance companies, which spend tons of money on the HCV liver problems where treatments that do not work are, nevertheless, paid for.More than anybody else, we expected they would cheer the news about the successful outcome of telaprevir in clearing the virus in large clinical trials. We were confident that they will not overlook Vertex's drug importance, its huge market and the fact that it is expected to be the first approved protease inhibitor, i.e., the first approved drug to that deals with the virus itself, not only its symptoms. We thought they would rush to buy VRTX as undervalued as it is and as it has constantly been for the past three years. Surprisingly enough, investors seemed uninterested in the $10 B market and, instead of buying the stock, they kept trading up and down, but to the negative side. The reason, as we see it, is that investors believe that the real influence on stock pricing comes not from the firms’ good news, or expected huge revenues and sales growth, but from emperors who dictate the prices of the publicly-traded firms. Complete Story » seekingalpha.com |
A Look at Immunogen Beyond the T-DM1 Setback Ohad Hammer submits:The FDA’s decision to reject Roche’s (RHHBY.PK) filing for accelerated approval of T-DM1 had quite an impact on Immunogen’s (IMGN) stock. There is no doubt that T-DM1 represents the company’s most valuable program, even if it is in the form of a mid single digit royalty rate, due to its blockbuster potential and impressive clinical activity. This justifies to some extent last week’s market reaction, as the next potential approval for T-DM1 is anticipated in mid 2012. Nevertheless, T-DM1 is facing multiple potential value creation events in the coming year, including an important data set for T-DM1 next month. In addition, the company is involved in 6 clinical stage programs (#7 is expected to enter the clinic this month), some of which are expected to generate data in the coming months. Although none of these programs is nearly as exciting as T-DM1, some of them could become more attractive with time. T-DM1 related eventsComplete Story » seekingalpha.com |
Arena's Weight Loss Drug Battles for Its Life EP Vantage submits:In the end the FDA’s rejection of Arena Pharmaceuticals’ (ARNA) Lorqess weight-loss drug was more damning than predicted. In addition to citing cancer signals debated in a negative advisory committee meeting last month, the announcement of the complete response letter also reveals that the agency questioned whether the drug works at all in non-diabetics (Arena falls through floor with adcom vote, September 17, 2010).It goes without saying the product known generically as lorcaserin is in a battle for its life. News that the FDA has requested data from the Bloom-DM study in type 2 diabetics, due within weeks, suggests that Lorqess still has a possible path forward in obese patients with medical complications, although that road would have many potholes. Whether US partner Eisai (ESALY.PK) would be pleased with additional clinical trials or a smaller indication is not clear, although its chief executive did express continued support for Lorqess.Complete Story » seekingalpha.com |