Drug developer C4X shares fly after signing £330m AstraZeneca licensing deal November 28, 2022 Drug developer C4X Discovery has signed an exclusive licensing agreement worth up to $402m (£334m) with pharma giant AstraZeneca to develop oral therapy to treat inflammatory diseases. London-listed C4XD’s shares have rocketed this morning, up nearly 40 per cent to 28.5p so far. As part of the deal, C4XD will receive pre-clinical milestone payments worth up [...]
Merck inks £1.1bn deal for cancer drug developer Imago November 21, 2022 American pharmaceutical giant Merck has today inked a $1.35bn (£1.14bn) deal for cancer drug developer Imago BioSciences. The offer of $36 (£30.4bn) a share represents a nearly 107 per cent premium on the company’s last closing price. The deal is intended to bolster Merck’s portfolio of blood disorder treatments, with onlookers expecting the company’s blockbuster [...]
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US pharma giants to merge under $145m deal to tackle opioid overdose epidemic November 14, 2022 Indivior, a US pharmaceutical heavyweight, has bought addiction and overdose treatment competitor Opiant Pharmaceuticals for $145m (£123m) The FTSE 250 pharma firm is coughing up some $20.00 per share in cash upfront, Indivior said in a statement today. Plus, a further $8.00 a piece should revenue milestones be achieved over the next seven years. Both [...]
Roche shares dip as hope for long-awaited Alzheimer’s drug quickly fades November 14, 2022 Shares in Swiss pharmaceutical giant dipped today after disappointing results from its late-stage Alzheimer’s drug. The drug, known as Gantenerumab, was seen as a high-risk but high-reward drug, according to Sebastian Skeet, senior healthcare analyst at investment research firm Third Bridge. However, the treatment failed to slow the progression of dementia across two ongoing trials. [...]
Johnson & Johnson to face UK class action lawsuit over talc asbestos claims November 9, 2022 Johnson & Johnson is set to face a class-action lawsuit brought forward by high-profile Houston litigator Mark Lanier’s new UK-based firm. The Houston litigator’s new law firm is launching a British class-action lawsuit against Johnson & Johnson over claims the New Jersey pharma giant’s talc products caused UK customers to develop cancer. The lawsuit is [...]
UK failing to capitalise on disease research as it lags behind Europe, says ABPI November 3, 2022 The UK is failing to capitalise on its world leading disease research, according to the country’s pharmaceutical body. The country could be unlocking significant economic benefits in better competing with its European rivals on genomics, the study of genomes which is crucial to understanding how diseases develop. In report published today by the Association of [...]
Aspire Pharma buys Morningstar healthcare divisions in undisclosed sum October 3, 2022 Aspire Pharma has bought Morningside’s pharmaceutical and healthcare divisions, as well as their subsidiaries for an undisclosed sum. The deal cements an ongoing post-pandemic trend of consolidation within the pharmaceutical and healthcare sectors. Morningside’s boss Tim Brady added that the deal will give Aspire access to over 120 mid and late-stage programs. Chief executive officer [...]
GSK snatches Julie Brown from Burberry’s top management September 24, 2022 GSK has reportedly snatched Burberry’s chief operating and financial officer Julie Brown. Sources told Sky News the £53bn pharmaceutical titan could appoint Brown as its chief financial officer as soon as Monday. The businesswoman in fact announced on Friday she would step down next year after six years at Burberry. Working alongside chief executive Dame [...]
Panic in pharma as bosses of four firms face being struck off: Shock CMA decision includes Alliance’s CEO September 2, 2022 Pharmaceutical firms have appealed against a competition case underlying the disqualifications of multiple industry bosses, which could potentially lead to the seven individuals being struck off. The Competition and Markets Authority (CMA) said on Friday that it had issued proceedings in the High Court to disqualify directors at four groups, including the chief executive of [...]