By Esha Dey
(Reuters) – Specialty pharmaceuticals company Mallinckrodt Plc will buy drugmaker Questcor Pharmaceuticals Inc for about $5.6 billion to gain access to its lucrative drug to treat multiple sclerosis, Acthar Gel.
This acquisition, Mallinckrodt’s second in less than two months, highlights its efforts to tap into the fast-growing specialty drugs market, which focuses on complex and chronic diseases.
By Esha Dey
(Reuters) – Generic injectable drugs maker Sagent Pharmaceuticals Inc (SGNT.O: Quote, Profile, Research) is looking to shore up its portfolio with deals worth up to $500 million, as rampant manufacturing issues and quality concerns push consolidation in the industry.
Cancer drugs, anti-infectives and treatments that can be sold directly to hospitals are of key interest to the company that has remained relatively unscathed by the regulatory problems in the sector, Sagent Chief Executive Jeffrey Yordon said in an interview.
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.