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MARKET INTEL by PharmaCompass
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By PharmaCompass
2019-07-18
Impressions: 107 Article
Gilead Sciences Inc is investing US$ 5.1 billion in Belgian biotechnology company Galapagos NV. Under the agreement, Gilead will pay US$ 3.95 billion upfront to Galapagos and invest US$ 1.1 billion to raise its stake to 22 percent, from the existing 12.3 percent.
With this deal, Gilead’s new CEO Daniel O’Day is trying to replicate the model of Swiss drug giant Roche Holding AG, a company where he worked for over 30 years.
The deal includes a 10-year standstill agreement that restricts Gilead’s ability to acquire the company. Therefore, O’Day is committing to the idea of research partnerships that stop short of outright M&A. This was a strategy that had paid off at Roche. By leaving Galapagos independent, O’Day hopes it will remain innovative.
The move will bring O’Day growth opportunities in Galapagos’s specialist areas including fibrosis and arthritis, and give Galapagos deep funds to develop and commercialize its drugs.
Boehringer buys Amal Therapeutics: Boehringer Ingelheim is acquiring all shares of Amal Therapeutics, a private Swiss biotechnology company focused on cancer immunotherapy.
Amal Therapeutics derives cancer vaccines from its technology platform KISIMA. The company’s lead vaccine — ATP128 — is currently developed for stage IV colorectal cancer and is slated to begin first-in-human trials later this month.
Boehringer Ingelheim plans to develop new therapies by combining assets from its cancer immunology portfolio with Amal’s proprietary KISIMA immunization platform.
The total transaction could amount up to US$ 365 million (Euro 325 million).
Recordati buys two Novartis drugs: European specialty drug-company Recordati bought two Novartis drugs for US$ 390 million. The drugs acquired by Recordati are Signifor and Signifor LAR for the treatment of Cushing’s disease and acromegaly in adult patients for whom surgery is not an option or for whom surgery has failed. Cushing’s disease and acromegaly are both hormonal conditions.
Worldwide sales of Signifor in 2018 were US$ 72 million. The agreement also covers the acquisition of worldwide rights to osilodrostat (LCI699), an investigational innovative drug for the treatment of endogenous Cushing’s syndrome, for which marketing authorization applications have been filed in the European Union and in the USA.
Meanwhile, AbbVie has expanded its oncology pipeline with the acquisition of Mavupharma, a privately held biotech targeting cancer through an immune pathway called STING. The companies did not disclose the terms of the transaction.
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