Latest news in biotech

Oxford BioTherapeutics, GSK Partner in $370M Cancer Drug Dea

UK biotech Oxford BioTherapeutics stands to gain $370 million under a new partnership with drug giant GlaxoSmithKline plc to discover, develop and commercialize therapeutic antibodies aimed at treating primary, metastatic and recurring forms of cancer. The deal represents OxFord’s transition from a discovery firm to a drug development company, said CEO Christian Rohlff.

Takeda Taking Over IDM Pharma for $66.7M

Takeda Pharmaceutical Co. Ltd.’s planned takeover of IDM Pharma for $66.7 million brings IDM back from the brink of Nasdaq delisting, and gives the Irvine, Calif.-based firm more clout as it works to win FDA approval of Mepact (mifamurtide). Already approved in Europe as an orphan drug, the osteosarcoma therapy is what brought Takeda to the table, and the Japan-based pharma giant paid a 55 percent premium to IDM’s Friday closing stock price.

Biovail to Buy Tetrabenazine Products for $230M

Biovail Corp. is buying development and marketing rights to the entire portfolio of tetrabenazine products from Ireland’s Cambridge Laboratories Ltd. for $230 million. The deal will generate in the range of $23 million to $26 million in revenues in 2010. Upon closing of the transaction, Biovail will earn revenue from the worldwide sales that have been established through Cambridge’s network of marketing partners in approved territories.

Onyx Sues Bayer over Alleged Nexavar Alternative

Onyx Pharmaceuticals Inc.’s lawsuit against Nexavar partner Bayer AG put the damper on speculation about a possible merger. The complaint alleges that Bayer is surreptitiously developing an alternative to Nexavar (sorafenib) for liver cancer, as Bayer is not satisfied with the way the market compound’s profits are divvied up. Bayer, according to Onyx, is pushing fluoro-sorafenib along under a separately filed patent, and does not plan to recognize it as a product covered by the two firms’ collaboration.

Sciele Picks up Victory Pharma for $150M

Sciele Pharma Inc. added several pain products to its cardio and diabetics portfolio in a $150 million cash purchase of privately held Victory Pharma Inc. The purchase includes Victory’s lead product, Naprelan, the only branded, once-daily sustained-release formulation of naproxen sodium, a nonsteroidal anti-inflammatory drug.

Also in the News:

A.P. Pharma, Argenta Discovery, AstraZeneca, Basilea, Biopure, Clinical Data, Daiichi Sankyo, DeCode, Essentialis, InDex Pharmaceuticals, InterMune, Light Sciences Oncology, Lonza Biologics, MorphoSys, Northfield Laboratories, Novartis, Oncogene, Optimer Pharmaceuticals, Promosome, Provectus, Rexahn, Sol-Gel Technologies, Sunesis Pharmaceuticals, Trius, Vical

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