Former Heritage Pharmaceuticals CEO Jeffrey Glazer and ex-president Jason Malek were hit yesterday with the 1st criminal charges from a 2-year federal investigation in an ongoing generic drug pricing case. The 2 former executives were charged by federal authorities with price collusion for doxycycline hyclate, a widely used antibiotic, and a diabetes therapy called glyburide […]
Wall Street Beat
Baxter to put up $625m for Claris Injectables generics biz
Baxter (NYSE:BAX) said today that acquired Claris Lifesciences (BOM:533288) subsidiary Claris Injectables for $625 million. The deal is expected to close in the 2nd half of next year. Deerfield, Ill.-based Baxter said it plans to pay for the acquisition with cash on hand, debt or a combination. Baxter anticipates launching 7 to 9 new products […]
BD launches high volume syringe for biologics
Becton Dickinson (NYSE:BDX) said today that it launched its BD Neopak 2.25 milliliter prefillable glass syringe designed for high-volume injection of biologics. The Franklin Lakes, N.J.-based company said that its prefillable glass syringe was developed to reduce drug degradation and aggregation between the container and therapeutic. The high volume syringe is commercially available in the […]
TiGenix IPO raises $36m
TiGenix (EBR:TIG) said today that it raised $36 million in an initial public offering from the sale of 2.3 million American depository shares, representing 46 million ordinary shares, at $15.50 apiece. The biopharmaceutical company plans to list on the NASDAQ exchange under the “TIG” symbol by Dec. 15. It is listed on the Euronext Brussels under the same symbol. […]
AARP report details increase in brand name drug prices
The AARP Public Policy Institute released a report today showing that 2015 was the 4th straight year of double-digit average annual increases for widely used brand name drugs. The nonprofit organization also concluded that prices for brand name drugs increased almost 130 times faster than the 0.1% general inflation rate in 2015. The report, which […]
Eli Lilly, Express Scripts offer insulin discount program
Eli Lilly (NYSE:LLY) said it is teaming up with pharmacy benefit manager Express Scripts (NSDQ:ESRX) to offer discounts on the US pharma giant’s insulin products for uninsured patients and people with high-deductible insurance plans. The program will begin January 1, 2017 and will cover Lilly’s insulins Humalog, Humulin, and the biologic Basaglar. Lilly said it anticipates the program […]
FDA approves first bioresorbable scaffold with autologous cells for cartilage repair
Vericel Corp (NSDQ:VCEL) shares soared 56% today after the Cambridge, Mass.-based company said the FDA approved its bioresorbable scaffold for cartilage repair. The product, Maci, is the 1st FDA-approved implant to use healthy cartilage tissue from a patient’s own knee to grow cells on the scaffold. “Different cartilage defects require different treatments, so therapy must be […]
Actelion, Sanofi in talks after J&J backs out of negotiations
Actelion (VTX:ATLN) and Sanofi (NYSE:SNY) are reportedly in talks to reach a takeover deal after Johnson & Johnson (NYSE:JNJ) said yesterday that it has closed negotiations with the Swiss biotech. J&J and Actelion have been in informal talks for nearly 2 months and the US company has made an offer valued at 250 Swiss francs per share. J&J said yesterday […]
BioDelivery’s topical gel for diabetic neuropathy fails in phase IIb trial
BioDelivery Sciences International (NSDQ:BDSI) said today that its clonidine topical gel for pain relief in patients with diabetic neuropathy failed in a phase IIb clinical trial. Raleigh, N.C.-based BioDelivery will halt any further development of the painkiller. In the phase IIb clinical trial, BioDelivery’s topical gel did not demonstrate a statistically significant difference in pain relief […]
Adherium’s smart inhaler tech chosen for EU mobile health program
Adherium Ltd. (ASK:ADR) said today that its Smartinhaler was chosen for the myAirCoach program as a part of the European Union’s Horizon 2020 Framework for Research and Innovation. The Horizon 2020 program is the largest EU research and innovation program ever established, with €80 billion (nearly $85 billion) of funding available from 2014 until 2020. The […]
