| Isis Pharmaceuticals, Inc. Q1 2010 Earnings Call Transcript Isis Pharmaceuticals, Inc. (ISIS)Q1 2010 Earnings CallMay 6, 2010 8:30 am ETComplete Story » seekingalpha.com |
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Onyx Was Right to Acquire Proteolix All Along Prohost Biotech submits:In October 2009, Onyx (ONXX) paid $276 million up front to acquire the privately held Proteolix to get to its multiple myeloma drug carfilzomib. It promised $535 million in future payments largely contingent on carfilzomib's approval. As usual, investors did not like Onyx paying money, because investors do not like any company to pay money to develop or acquire state-of-the-art products. When somebody hates something he sees everything in it with pessimism. Onyx put its hands on carfilzomib, which looked very promising for multiple myeloma cases resistant to current treatments. The breakthrough multiple myeloma drugs Velcade (bortezomib) and Revlimid (lenolidamide) could not prevent the cancer from recurring and failed to work at all on a large percentage of recurrent cancer. Carfilzomib is the second proteasome inhibitor; these drugs work by interrupting a key enzyme cancer cells require to survive and multiply. Velcade, developed by Millennium Pharmaceuticals that was acquired by Takeda, was the first proteasome inhibitor approved. Carfilzomib was developed to be more potent than Velcade and cause milder side effects, particularly the numbness and nerve pain that are well-known issues with Velcade. Complete Story » seekingalpha.com |
Egg Probe Tracks Tainted Feed Early tests suggested chicken feed may have become contaminated after it arrived at the Iowa farm at the center of a huge egg recall, helping investigators zero in on the cause of this summer's salmonella outbreak. online.wsj.com |
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