Shares in Novocure (NSDQ:NVCR) fell today after the medical device maker missed expectations on Wall Street with its first-quarter results. The St. Helier, N.J.-based company posted a net loss of -$20.7 million, or -23¢ per share, on sales of $52.1 million for the 3 months ended March 31, for bottom-line loss of -14.8% on sales growth […]
Featured
Theravance Biopharma touts expanded FDA nod for GSK’s Trelegy Ellipta inhaler
Theravance Biopharma‘s (NSDQ:TBPH) said today that the FDA granted expanded indications for GlaxoSmithKline‘s (NYSE:GSK) Trelegy Ellipta inhaler, now approved for use to treat a broader population of chronic obstructive pulmonary disease patients. With the expansion, the inhaler is now cleared for COPD patients with airflow limitations and for those who have experienced an acute worsening of […]
Shire accepts $64B takeover bid from Takeda
Shire (NSDQ:SHPG) said late yesterday it agreed to Takeda Pharmaceutical‘s (TYO:4502) reworked acquisition bid, now worth approximately $64.2 billion (GBP £46 billion). The takeover offer will now go to Shire’s shareholders for approval, having received backing from Dublin, Ireland-based Shire’s board of directors, according to a press release. In the deal, Takeda will offer approximately 0.839 […]
Feds arrest PixarBio CEO Reynolds on securities fraud charges
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 […]
EryDel raises $32m (€27m) for red blood cell drug delivery tech
Italian red blood cell drug delivery tech developer EryDel has raised $32 million (EU €26.5 million) in a new round of financing. The round was led by Sofinnova Partners and joined by existing shareholder Genextra SpA and Innogest SGR, according to a Sofinnova release. “We are thrilled to welcome Sofinnova Partners as our lead investor. […]
Valeritas prices $24m offering
Valeritas (NSDQ:VLRX) today announced a new $24 million offering. In the offering, the Bridgewater, N.J.-based company will look to float approximately 13.7 million shares of common stock at $1.75 per share. The offering will also include a 30-day underwriter’s option for an additional 2.1 million shares at the same price. Before deducting underwriter’s discounts and commissions, […]
Report: Takeda raises $60B offer for Shire, nears prelim acquisition agreement
Takeda Pharmaceutical (TYO:4502) has sweetened its approximately $60 billion bid for Shire (NSDQ:SHPG) and is approaching a preliminary agreement for acquisition, according to a new report from Bloomberg. The deal could come to a head as early as today, according to the report, as both companies have been working on a tentative agreement and price for the […]
Orion inks $200m deal to sell diagnostics unit
Orion said today that it plans to sell its Orion Diagnostica division to an investment fund managed by Axcel Management for $200 million. The Finland-based company said its diagnostic unit operates independently from its pharmaceutical business and that the two groups have “material business synergies.” “The sale of the division will allow us to further […]
FDA approves Medtronic’s drug-coated balloon to treat long superficial femoral artery lesions
The FDA approved Medtronic‘s (NYSE:MDT) In.Pact Admiral drug-coated balloon to treat long superficial femoral artery lesions up to 360mm in patients with peripheral artery disease, the medtech giant touted today. In a 227-patient global trial, participants treated with Medtronic’s drug-device combination therapy had a one-year patency rate of 89.1% and a clinically-driven target revascularization rate […]
Fresenius abandons $4.3B Akorn merger, citing data integrity probe
Fresenius (ETR:FRE) is walking away from a $4.3 billion merger with U.S. generic drugmaker, Akorn Inc. (NSDQ:AKRX), citing an investigation that found material breaches of FDA data integrity requirements relating to Akorn’s operations. Fresenius said in a statement that it offered to delay its decision to give Akorn time to compete its own investigation, but Akorn turned […]