The 2020 World Conference on Lung Cancer, which was scheduled to take place in Singapore last August, is set to kick off virtually later this week. The postponement gave companies time to generate additional data as they battle to treat patients with their targeted therapies.
Evoq Therapeutics LLC, a Michigan-based company developing a new technology for treating autoimmune disease, has signed a new license and collaboration agreement giving Amgen Inc. exclusive rights to selected programs in the area, undisclosed in number and indication. Valued at more than $240 million in up-front and milestone payments, the deal also includes potential royalties on sales of resulting therapies, Evoq said.
PERTH, Australia – Although Australians pay less for their drugs than patients in many other countries, Australia is falling behind when it comes to reimbursement for newer, targeted therapies, according to a report launched by Medicines Australia that assessed the timelines for registration and reimbursement of new medicines in Australia compared to 10 other Organisation for Economic Co-operation and Development (OECD) countries.
The latest global regulatory news, changes and updates affecting biopharma, including: Canada moves to make some COVID-19 flexibilities permanent; Industry group forms to advance subcutaneous technology.
With the next big wave of biologic patent expirations soon to wash over the U.S. market, companies developing biosimilars are optimistic about the future. “We’re at a place where we’re seeing really strong uptake of biosimilars, which has resulted in cost savings,” Chad Pettit, executive director of marketing for Amgen Inc.’s biosimilars unit, told BioWorld.
The dramatic increase in COVID-19 infections in Europe and the U.S., combined with information overload surrounding the lead up to the Nov. 3 contentious U.S. presidential election, was more than enough to send investors to the sidelines in October.
Mirati Therapeutics Inc.’s update on the phase I/II Krystal trial of the KRAS-G12C-targeting adagrasib (MRTX-849) was arguably the most eagerly awaited news, and certainly the most eagerly awaited KRAS-targeting news, to come out of the 2020 EORTC-NCI-AACR (ENA) Molecular Targets meeting. KRAS is one of the most frequently mutated oncogenes across a wide swath of solid tumors, and has been one of the toughest nuts to crack as far as druggability is concerned.
Shares in Cytokinetics Inc. closed down 42% Oct. 8 on news that omecamtiv mecarbil, a heart failure drug which it is developing with Amgen Inc. (with funding and strategic support from Les Laboratoires Servier SAS), failed to demonstrate a survival benefit in a large-scale cardiovascular outcomes study.
Attributing recent reductions in certain U.S. prescription drug prices to intense congressional scrutiny rather than a biopharma industry commitment to affordability, Rep. John Sarbanes (D-Md.) said Congress must put more guardrails in place and restructure how the industry does business.
Rather than the in-your-face, blame-and-shame show that was expected, the Sept. 30 drug pricing hearing before the U.S. House Oversight Committee was more a reminder of the policy differences between Democrats and Republicans on how best to make prescription drugs more affordable.
