Shares in Teva Pharmaceutical (NYSE:TEVA) rose today after the pharmaceutical company met expectations on Wall Street with its 4th quarter results. The Israel-based company posted a loss of -$974 million on sales of $6.49 billion for the 3 months ended Dec. 31, for bottom-line loss of -296% on sales growth of 33% compared with the same period last […]
Wall Street Beat
Marathon hikes MD drug price 70x to $89k a year
After winning FDA approval for its muscular dystrophy drug last week, Marathon Pharmaceuticals set the drug’s list price at $89,000 a year – 50 to 70 times greater than what most U.S. patients have paid for decades by importing the drug from Europe. Marathon’s drug is a corticosteroid, deflazacort, that has been shown to improve muscular […]
Democratic senators float bill to protect ‘scientific integrity’
Sen. Bill Nelson (D-Fla.) introduced a bill this week that aims to protect and promote ‘scientific integrity’. The legislation builds on policies from former President Barack Obama’s 2009 executive order, which required federal agencies to define how they planned to safeguard scientific integrity. The bill, which has 27 co-signers and has been referred to the Committee […]
Immunomedics, Seattle Genetics ink $2B deal for antibody-drug conjugate
Immunomedics (NSDQ:IMMU) said it landed an exclusive global licensing agreement with Seattle Genetics (NSDQ:SGEN) for Immunomedics’ antibody-drug conjugate, IMMU-132, for the treatment of solid tumors. The deal could potentially bring in $2 billion plus royalties for Immunomedics. According to the deal, Seattle Genetics is responsible for developing, funding, manufacturing and commercializing IMMU-132. The Washington-based company will […]
Senators question Kaleo over pricey opioid overdose device
In a letter signed by 30 U.S. senators, Sen. Claire McCaskill (D-Missouri) asked Kaleo Pharmaceutical to explain the 550% price hike for its Evzio opioid overdose device. The company’s product, which Kaleo sold for $690 in 2014, is priced at $4,500. Evzio is a naloxone auto-injector designed to reverse the effects of an opioid overdose. It can […]
Senate confirms Price as HHS chief
The Senate confirmed Rep. Tom Price (R-Ga.) to head the Health & Humans Services Dept. in a 52-47 vote early this morning. No Democratic senator voted to support the new administration’s nominee, but he was passed through in the Republican-majority Senate. Democrats spent hours last night protesting his confirmation, pushing the vote until 2 A.M. […]
Acorda’s inhaled Parkinson’s drug meets primary endpoint in Phase III trial
Acorda Therapeutics (NSDQ:ACOR) said today that the phase III clinical trial evaluating its inhaled formulation of Parkinson’s drug levodopa met its primary endpoint. The drug was studied as a therapy for people with Parkinson’s disease experiencing “off” periods, or a re-emergence of symptoms. The randomized phase III trial enrolled 339 patients to evaluate the efficacy […]
UPDATE: Medtronic wins Health Canada license for drug-coated balloon, touts Japanese data
Medtronic (NYSE:MDT) touted 1 year data from the In.Pact SFA Japan trial of its drug-coated balloon compared to plain balloon angioplasty. The company also said today it won regulatory approval in Canada for its In.Pact Admiral DCB in patients with peripheral artery disease in the upper leg. The Japan trial enrolled 100 patients, 68 of […]
Arms Pharmaceutical touts oral spray for upper respiratory tract infections
Arms Pharmaceutical touted data from a proof-of-concept clinical trial evaluating its oral spray formulation, Arms-I, for upper respiratory tract infections. The placebo-controlled trial demonstrated that the oral spray formulation is safe, well-tolerated and reduced influenza symptoms, according to the Cleveland-based pharmaceutical company. “The results confirm that our Arms-I technology has tremendous potential to lead the […]
Mercator MedSystems touts data for Bullfrog micro-infusion device
Mercator MedSystems touted data today from its Dance clinical trial evaluating the company’s Bullfrog micro-infusion device as a delivery system for a generic anti-inflammatory steroid, dexamethasome. Mercator’s results were presented at the International Symposium on Endovascular Therapy and Leipzig Interventional Course. The steroid was delivered to tissues around femoropopliteal arteries after patients underwent endovascular intervention […]
