LONDON/LOS ANGELES (Reuters) – A revolution is brewing in healthcare with lower-cost copies of complex biotech drugs finally set to reach the United States, nine years after so-called biosimilars were launched in Europe.
The potential for copycats to take business from original biotech brands is grabbing investors’ attention and was a key factor in Pfizer’s recent move to buy injectable drugmaker Hospira for about $15 billion.
LONDON (Reuters) – AbbVie’s $21 billion deal to buy Pharmacyclics shows big pharma’s hunger for new drugs at a time when research at smaller biotechnology companies is driving some of the most promising advances in medicine.
Competition for tomorrow’s blockbuster drugs is now intense, inflating the cost of deals and pushing pharmaceuticals to center stage in overall mergers and acquisitions (M&A).
March 5 (Reuters) – AbbVie Inc is to buy
Pharmacyclics Inc for about $21 billion, giving it
access to what is expected to be one of the world’s top-selling
cancer drugs and expanding its reach in the profitable oncology
The deal — the latest example of a big drugmaker swooping
on a biotech firm to refill its medicine pipeline — confounds
expectations that Pharmacyclics would sell out to Johnson &
LONDON, March 4 (Reuters) – The idea of using vaccines to
fight cancer has received a shot in the arm from a $1 billion
deal between Bristol-Myers Squibb and Bavarian Nordic
The agreement gives the U.S. drugmaker an exclusive option
to the Danish biotech firm’s therapeutic prostate cancer vaccine
Prostvac and signals that such shots may have a bright future
when combined with so-called checkpoint inhibitor drugs.
LONDON, March 2 (Reuters) – GlaxoSmithKline and
Novartis said on Monday they had completed a series of
asset swaps worth more than $20 billion that will reshape both
GSK is forming a consumer health joint venture with
Novartis, while at the same time buying the Swiss company’s
vaccines business and divesting its cancer drugs portfolio to
LONDON (Reuters) – French drugmaker Sanofi’s new Toujeo diabetes drug has been recommended for approval in Europe, two days after being cleared for sale in the United States, regulators said on Friday.
The positive decision from experts at the European Medicines Agency (EMA) had been expected and paves the way for the long-lasting insulin product to be marketed soon in Sanofi’s chosen first European markets, Germany and Britain.
LONDON (Reuters) – Nikon (7731.T: Quote, Profile, Research), the 98-year-old Japanese company best known for its cameras, has agreed to buy British retinal imaging firm Optos (OPTS.L: Quote, Profile, Research) for 259.3 million pounds as it moves into the medical sector.
Nikon has previously said it intended to enter the medical sector to leverage its optical technologies and the Japanese group sees buying Optos as an important step in that long-term growth plan.
LONDON, Feb 27 (Reuters) – Nikon, the 98-year-old
Japanese company best known for its cameras, has agreed to buy
British retinal imaging firm Optos for 259.3 million
pounds ($400 million) as it moves into the medical sector.
Nikon has previously said it intended to enter the medical
sector to leverage its optical technologies and the Japanese
group sees buying Optos as an important step in that long-term
LONDON, Feb 27 (Reuters) – Drugmaker AstraZeneca has
decided to carve out its early-stage antibiotic research by
creating a stand-alone subsidiary company, as it sharpens its
focus on other therapy areas.
Chief Executive Pascal Soriot said last year he was looking
to partner or sell its anti-infective business, which is no
longer viewed as a core area for the British drugmaker.
LONDON, Feb 26 (Reuters) – GlaxoSmithKline said on
Thursday that its chairman-designate Philip Hampton would take
charge of Britain’s biggest drugmaker from May 7, marking an
earlier transition than initially anticipated.
Hampton, who chairs Royal Bank of Scotland, was
named as the pharmaceutical company’s next chairman last
September, but GSK said at the time he might not take up the
position until Sept. 1, 2015, if he could not be released from