The bizarre saga of biotech executive Frank Reynolds took another turn today when federal authorities arrested the PixarBio (OTC:PXRB) CEO and two associates on securities fraud charges, claiming they misled investors about its opioid substitute and falsely claimed a $1 billion valuation. PixarBio is purportedly developing a drug to replace morphine and other opiates, but prosecutors alleged […]
Update: Allergan, Takeda spar for Shire
Hours after Allergan (NYSE:AGN) said it was considering an acquisition of Shire (NSDQ:SHPG), the Dublin-based company announced that it does not intend to make such an offer. Reports also surfaced today that Shire rejected a $63 billion takeover offer from Takeda Pharmaceutical (TYO:4502). Reuters, which first broke the news of Allergan’s interest in Shire, citing a pair of unnamed sources, […]
Johnson & Johnson moves closer to exiting the diabetes business with $2.1B LifeScan sale
Johnson & Johnson (NYSE:JNJ) took another step toward the exit door for the diabetes business, agreeing to a $2,1 billion offer from private equity shop Platinum Equity for its LifeScan blood glucose monitoring unit. The New Brunswick, N.J.-based healthcare conglomerate early last year announced a strategic review of its LifeScan, Animas and Calibra Medical diabetes businesses and later […]
Reva Medical swings to black on first sales
Reva Medical (ASX:RVA) this week reported its first quarterly and annual revenues since winning CE Mark approval for its bioresorbable coronary scaffolds, swinging from red to black for the full year. San Diego-based Reva posted fourth-quarter profits of $160,000, or -10¢ per share, on sales of $28,000 for the three months ended Dec. 31, 2017. That […]
Ex-Advanced BioHealing exec draws probation in VA fraud case
A former Advanced BioHealing executive who admitted to federal charges that he bribed U.S. Veterans Affairs Dept. doctors to use the company’s DermaGraft biologic wound dressing last week drew probation in the case. Federal had prosecutors accused Todd Clawson, who left the company in 2012, of participating in a scheme to bribe VA physicians to use the DermaGraft diabetic […]
Varian Medical to pay $1.3B for Sirtex
Varian Medical (NYSE:VAR) yesterday said it agreed to pay nearly $1.3 billion for Australia’s Sirtex Medical (ASX:SRX) and its anti-cancer microspheres. The A$28-per-share offer, which values Sirtex at A$1.59 billion (about $1.28 billion), is slated to close in late May, Palo Alto, Calif.-based Varian said. It’s part of a bid to broaden that company’s oncology portfolio. Sirtex makes […]
Report: Chinese bidders eye Johnson & Johnson’s diabetes biz
Chinese glucose monitor maker Sinocare (SZ:300298) and a sovereign wealth fund there are said to be in the hunt for the diabetes business Johnson & Johnson (NYSE:JNJ) is looking to unload. The New Brunswick, N.J.-based healthcare conglomerate early last year announced a strategic review of its LifeScan, Animas and Calibra Medical diabetes businesses and later elected to […]
Anika Therapeutics wins FDA nod for bone void filler
Anika Therapeutics (NSDQ:ANIK) said today that it won 510(k) clearance from the FDA for its hyaluronic acid-based bone void filler The indication covers filling bone voids or defects that aren’t intrinsic to the stability of the bone, created during surgery or the result of traumatic injury. Made of a synthetic, biocompatible bone graft substitute material, […]
Aerogen, Lyomark ink inhaled surfactant deal
Aerogen and Lyomark Pharma said today that they inked a deal to develop an inhaled surfactant treatment for respiratory distress syndrome in pre-term infants. The pact calls for the duo to combine a compound called AP-002, a nasally inhaled surfactant based on a combination of Lyomark’s Alveofact bovine lung surfactant and Aerogen’s PDAP nasal delivery technology. Aerogen […]
Biocorp inks safety syringe deal with pharma player
Biocorp (PAR:ALCOR) said today that it inked a deal for its NewGuard safety syringe technology with “a leading global player specializing in pharmaceutical products” that it’s not allowed to name. The Issoire, France-based company said the deal call for it to integrate and commercialize the NewGuard technology into the pharma partner’s pre-filled heparin syringes, saying […]
