March 4 (Reuters) – Oxygen Biotherapeutics Inc said
the U.S. Food and Drug Administration had lifted an order
imposed in 2008 suspending trials of its experimental brain
injury drug, sending the company’s shares up by more than a
third in early trading.
The FDA had placed a clinical hold on the development of the
drug, Oxycyte, citing concerns over its use in patients with
severe traumatic brain injury (TBI).
Feb 19 (Reuters) – An experimental cancer drug developed by
Eli Lilly and Co, touted by some to be the company’s
next blockbuster, significantly improved survival rates in lung
cancer patients, sending the company’s shares up 3 percent in
Lilly needs new drugs to offset declining sales of its older
drugs as they lose patent protection.
(Reuters) – Generic drugmaker Actavis Plc (ACT.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it would buy Forest Laboratories Inc (FRX.N: Quote, Profile, Research, Stock Buzz) for about $25 billion in cash and stock, expanding its portfolio of specialty pharmaceuticals for neurological and other disorders.
The deal delivers a major payday to activist investor Carl Icahn, the second-largest shareholder at Forest Labs, who waged two proxy battles and threatened a third to change its leadership and strategy.
By Esha Dey
(Reuters) – Israel’s Teva Pharmaceutical Industries Ltd (TEVA.TA: Quote, Profile, Research, Stock Buzz) (TEVA.N: Quote, Profile, Research, Stock Buzz) offered to buy U.S. neurology drugs maker NuPathe Inc (PATH.O: Quote, Profile, Research, Stock Buzz) for $114 million plus milestone payments related to NuPathe’s Zecuity migraine treatment.
Teva’s offer of $3.65 per share comes less than a month after Endo Health Solutions Inc (ENDP.O: Quote, Profile, Research, Stock Buzz) said it would buy NuPathe for about $105 million, or $2.85 per share, plus milestone payments.
(Reuters) – A leukemia drug that was suspended amid safety concerns nearly two months ago is being allowed back on the U.S. market, though restricted to a smaller group of patients.
Shares of Ariad Pharmaceuticals Inc, which makes the drug, Iclusig, rose as much as 40 percent after news that the U.S. Food and Drug Administration approved the more restricted use of on Friday.
By Esha Dey
(Reuters) – Patients who are being treated for a leading cause of blindness among the elderly might be able to scale back on eye injections if trials confirm the potential of an eye drop being developed by a small New York-based company.
Ohr Pharmaceutical Inc’s Squalamine drug – an eye drop, as opposed to the injection therapies sold by Regeneron Pharmaceuticals Inc and Roche Holdings – doesn’t necessarily need to outsell its formidable competitors.
By Esha Dey and Garima Goel
(Reuters) – Oncolytics Biotech Inc’s lead cancer drug did not show as much improvement in survival rates of patients with head-and-neck cancer as expected by investors, sending its shares down as much as 21 percent.
The company said the drug improved survival in patients without their cancer worsening compared with those receiving chemotherapy alone, but did not say whether these results were statistically significant.
By Esha Dey and Jessica Toonkel
(Reuters) – Activist investor Carl Icahn disclosed a 12.63 percent stake in medical device maker Hologic Inc, prompting the company to adopt a shareholder rights plan, or “poison pill”, to protect itself from hostile takeovers.
Shares of Hologic, which makes screening tests for cancer and other diseases, were up 3 percent in afternoon trading.
By Esha Dey
(Reuters) – Sarepta Therapeutics Inc lost more than 60 percent of its market value after it was advised by the U.S. health regulator to find new ways to test its flagship treatment for a rare muscle disorder.
The U.S. Food and Drug Administration (FDA), citing new data and the failed trial of a competing drug, said the design and goals of Sarepta’s current trial might not be sufficient to win marketing approval for its drug.
By Esha Dey
(Reuters) – U.S.-based specialty pharmaceutical company Endo Health Solutions Inc will buy Canadian peer Paladin Labs Inc to expand its presence in Canada and emerging markets, as generic competition for its top drugs squeeze sales.
The news sent Endo shares up as much as 33 percent, valuing Paladin – to be acquired in a cash and stock deal – at about $2 billion.