AbbVie’s recent $54 billion acquisition of Shire and subsequent relocation to Ireland will mean substantial tax savings for the US pharmaceutical giant, according to analysts at research and consulting firm GlobalData. Read More »
Today’s Financial Times (FT) reports that nearly $40bn was wiped from the biotech market’s value last week (a 6 per cent drop in the Nasdaq biotechnology index) following the Federal Reserve’s identification of biotech shares as a cause for concern. There was some recovery on Friday however when prices rebounded 3 per cent.
The US central bank has said biotech valuations in the sector appear to be stretched; the FT however points to analysts who argue that they “simply reflect the hoped-for higher growth rates, which can be astronomical”.
The FT also points out that investors “were pulling money out of the sector before the Fed issued its warning”. But the Nasdaq biotechnology index still remains 16 per cent above its low in April.
The US healthcare system is expected to spend more than $150 billion treating cancer by 2020. In this PharmExec article, Daniele Severi Bruni, Jacob J. Schutz, and Anthony Hewitt of Icon plc ask if we have we have hit a breaking point in the escalating cost of oncology care.
It’s difficult to open an email or an envelope in Brussels these days without yet another agenda falling out of it, carrying the promise of a new start. With a new European Parliament installed, a new European Commission president appointed and a new Commission on the way, and guarded optimism that the worst of the recession is over, this outpouring of recommendations and recipes is hardly surprising.
One of the most grandiose of the manifestos and strategy proposals from industry, regulators and campaigning organizations currently doing the rounds in Europe is the self-styled “groundbreaking vision towards a life sciences strategy for Europe”, launched in high summer by the European Federation of Pharmaceutical Industries and Associations (EFPIA). Read More »
A potential treatment for sickle cell disease has come through the “valley of death” of early stage development due to support from a collaborative partnership established by the National Center for Advancing Translational Sciences (NCATS) at the National Institutes of Health (NIH). The results of early clinical trials demonstrated sufficient effectiveness in addressing the underlying cause of this high-profile disease to attract commercial interest – in this case from Baxter International, which announced July 9, 2014 the acquisition of Mass.-based AesRx and its experimental drug Aes-103, a small-molecule, oral drug for SCD. Read More »