27.03.2013 - British Clinigen Group broadens its cancer support therapy focus with the acquisition of Novartis' cardioprotective agent Cardioxane.
The UK specialist for cancer support therapy has licenced Cardioxane (dexrazoxane) from Novartis for US$33m in cash, payable in two tranches. Under the terms of the agreement, Clinigen will lead manufacturing, registration, distribution, and commercialisation in all countries where marketing authorisations for the cardioprotectant have been already granted.
Cardioxane is used to prevent chronic cumulative cardiotoxicity of anthracycline chemotherapy such as doxorubicin or in advanced and metastatic adult breast cancer. The company said it believes there is an opportunity to revitalise Cardioxane, which has no direct licensed competition in the anthracycline therapy cardioprotection space, by establishing new commercialisation, market and indication strategies over the next five years.
Historic revenues for Cardioxane have been about US$11-12m per year with Latin America, where Clinigen wants to expand, as a strong market. Cardioxane is the third addition to Clinigen's Specialty Pharmaceuticals business. It complements Foscavir, an anti-viral compound licenced from AstraZeneca, which fights CMV infections in leukemia patients undergoing bone marrow transplantation. Recently, the British company licensed Vibativ from Theravance. It fights hospital-acquired MRSA infections.
Cardioxane was initially licensed in 1992. Subsequently, Novartis bought the product as part of the 2006 acquisition of Chiron. The compound is currently licensed for sale in 43 markets around the world, including 18 in Latin America. Within the European Union, Cardioxane underwent a revision to its label in 2011, restricting its licensed use to advanced and/or metastatic breast cancer. The change brought the EU label in line with the dexrazoxane indication that exists within the US.
28.11.2014 The first gene therapy for a rare genetic condition — UniQure's Glybera — is on its way to the European market. But there is a hefty price tag: Chiesi, responsible for the marketing of the orphan drug, is asking for a record price of €1.1m per patient.
25.11.2014 The European biotech IPO slump has finally come to an end. A brand new industry report shows that compared to previous years, the number of biotech IPOs more than doubled in 2014, with London and Paris exchanges leading the pack.
19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.
18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.
14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.
12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.
04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.