Archive for August, 2013

Amgen to acquire Onyx Pharmaceuticals

Posted on August 27th, 2013 by Valorem Life Sciences

Amgen (NASDAQ:AMGN) and Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) announced over the weekend that their Boards of Directors have unanimously approved a transaction under which Amgen will acquire all of the outstanding shares of Onyx for $125 per share in cash. The purchase price is $10.4 billion, or $9.7 billion net of estimated Onyx cash.
Onyx Pharmaceuticals, Inc. is a global biopharmaceutical company engaged in the development and commercialization of innovative therapies for improving the lives of people with cancer. Onyx has an important and growing multiple myeloma franchise, with Kyprolis® (carfilzomib) for Injection already approved in the United States (U.S.). In addition, Onyx has three partnered oncology assets: Nexavar®(sorafenib) tablets (an Onyx and Bayer HealthCare Pharmaceuticals, Inc. compound), Stivarga®(regorafenib) tablets (a Bayer compound), and palbociclib (a Pfizer, Inc. compound). Onyx also has multiple oncology compounds in various stages of clinical development.
Amgen intends to effect the transaction through a tender offer and expects to close at the beginning of the fourth quarter, subject to the satisfaction of customary closing conditions, including the receipt of regulatory clearance.

Source: Pharmiweb

ViiV’s new HIV drug wins US approval

Posted on August 14th, 2013 by Valorem Life Sciences

ViiV Healthcare, a joint venture between GlaxoSmithKline, Pfizer and Shionogi, will be thrilled with news that US regulators have issued a green light for its new once-daily HIV pill Tivicay. The US Food and Drug Administration has approved its use, in combination with other antiretrovirals, for the treatment of HIV-1 in a broad patient population of both treatment-naive and treatment-experienced adults and children aged 12 years and older weighing at least 40kg. Tivicay (dolutegravir) is an integrase inhibitor that blocks HIV replication by preventing the viral DNA from integrating into the genetic material of human immune cells (T-cells), an essential step in the HIV replication cycle.

Source: Pharma Times

Alexion shares rise after report of approach by Roche

Posted on August 1st, 2013 by Valorem Life Sciences

Shares of Alexion Pharmaceuticals rose more than 7 percent on Tuesday following a report that Swiss drugmaker Roche Holding AG made an informal approach to the biotech company last week about a takeover.

Bloomberg, citing one unnamed person with knowledge of the matter, said that Alexion had rebuffed the approach and had retained Goldman Sachs to prepare for a possible offer. Officials at Alexion and Roche were not immediately available to comment on the report. Goldman Sachs declined to comment. Earlier this month, people familiar with the matter told Reuters that Roche was seeking financing for a potential bid for Alexion, whose market value neared $22 billion before Tuesday’s share move. Alexion sells Soliris, one of the world’s most expensive medicines, used to treat a progressive, life-threatening blood disorder called paroxysmal nocturnal hemoglobinuria that causes destruction of red blood cells.

Source: Reuters