By Akane Otani and Bill Berkrot
(Reuters) – Hopes of finding a treatment for the deadly Ebola virus shifted on Monday to a small California-based biotech company whose experimental drug has been used to treat two American missionary workers. The drug, developed by Mapp Biopharmaceutical Inc, was used to treat two workers from the Samaritan’s Purse group who were exposed to the disease in Liberia, according to a U.S. government health official.
The official said the treatment was administered in Liberia.
One of the aid workers, Dr Kent Brantly, returned to the United States on Saturday for medical care, and his colleague Nancy Writebol is due to fly back to the country via medical aircraft on Tuesday.
Aug 4 (Reuters) – Amgen Inc said on Monday its
Kyprolis combined with standard treatment helped patients with
relapsed multiple myeloma live significantly longer before their
blood cancer worsened, compared with the standard therapy,
according to interim data from an eagerly-anticipated late stage
Kyprolis, the centerpiece of Amgen’s nearly $10 billion
acquisition of Onyx Pharmaceuticals last year, has recorded
sales of $146 million in the first half of this year. Celgene
Corp’s rival multiple myeloma drug Pomalyst by
comparison had sales of $296.5 million over the first six
July 31 (Reuters) – Scientific instruments maker PerkinElmer
reported second-quarter profit on Thursday that matched Wall
Street expectations and maintained its earnings forecast for the
full year as it prepares for the launch of new products.
Revenue for the quarter rose 3 percent to $556.2 million,
falling short of Wall Street estimates of $571.7 million.
By Bill Berkrot
(Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) on Tuesday said it would cut up to 15 percent of its work force and close plants in a series of moves aimed at reallocating resources as it prepares to introduce new medicines it hopes will drive future growth.
High on the list of potential growth drivers is evolocumab, a cholesterol-lowering medicine from a new class of drugs that analysts see having multibillion-dollar sales potential. The company said it plans to file applications seeking U.S. and European approval this quarter.
By Bill Berkrot
(Reuters) – Celgene Corp (CELG.O: Quote, Profile, Research, Stock Buzz) reported a 25 percent rise in second-quarter profit, edging out Wall Street expectations, but a raised 2014 forecast failed to excite investors and its shares fell nearly 4 percent.
The U.S. biotechnology company said it now expects full-year adjusted earnings of $3.60 to $3.65 per share and revenue of $7.60 billion. It had previously forecast earnings of $3.50 to $3.60 per share and revenue of $7.50 billion.
By Bill Berkrot
(Reuters) – Gilead Sciences Inc said on Wednesday that its new hepatitis C drug Sovaldi had sales of $3.5 billion in the second quarter, exceeding Wall Street estimates and demonstrating that the furor over its price has not curtailed early use.
Analysts had been forecasting Sovaldi sales of about $2.6 to $2.9 billion for the quarter.
July 23 (Reuters) – Gilead Sciences Inc said on
Wednesday that its new hepatitis C drug Sovaldi had sales of
$3.5 billion in the second quarter, exceeding Wall Street
estimates and demonstrating that the furor over its price has
not curtailed early use.
Analysts had been forecasting Sovaldi sales of about $2.6 to
$2.9 billion for the quarter.
July 16 (Reuters) – Heart device maker St. Jude Medical Inc
said it has no plans to jump on the consolidation
bandwagon that has swept the healthcare sector in recent months
and is not seeking the type of “inversion” deal increasingly
popular among U.S. companies seeking to lower taxes by re-basing
In the most recent such deal in the medical device sector,
Medtronic Inc last month agreed to buy Covidien
for $43 billion. The move will allow Medtronic to re-domicile to
Ireland to take advantage of low corporate tax rates and to
access cash overseas without having to pay high repatriation
July 1 (Reuters) – Regeneron Pharmaceuticals Inc
shares jumped nearly 7 percent Tuesday after Sanofi SA
said it would raise its stake in the U.S. biotechnology company,
and as a competitive threat to Regeneron’s top drug appeared to
French drugmaker Sanofi, in a U.S. regulatory filing, said
it would boost its Regeneron holdings to up to 22.5 percent by
July 29, under an agreement between the companies allowing
Sanofi to own up to 30 percent of Regeneron.
June 30 (Reuters) – Allergan Inc said on Monday that
the U.S. Food and Drug Administration would not approve its
acute migraine aerosol treatment until certain concerns are
addressed, but the agency approved a new use for its implantable
eye drug, Ozurdex.
The Botox maker, which is fighting a hostile takeover bid by
Valeant Pharmaceuticals International Inc, said
Semprana, formerly known as Levadex, had received a second
“complete response letter” from the FDA delaying its approval.
Allergan now expects the agency’s next action in the second
quarter of 2015.