More than a week earlier than its PDUFA date, Bristol Myers Squibb Co. received U.S. FDA approval of its next-generation ROS1 tyrosine kinase inhibitor repotrectinib for adults with ROS1-positive locally advanced or metastatic non-small-cell lung cancer.
In one of the year’s biggest deals, Bristol Myers Squibb Co. (BMS) is buying Turning Point Therapeutics Inc. for about $4.1 billion to get at a potential cancer blockbuster, repotrectinib. The oral tyrosine kinase inhibitor, Turning Point’s lead asset, targets ROS1 and TRK in treating ROS1-positive metastatic non-small-cell lung cancer. Once the deal closes, BMS’ acquisition of Turning Point would be the second largest of the year. The biggest remains Pfizer Inc.’s purchase of San Diego’s Arena Pharmaceuticals Inc. for $6.7 billion in March.
Ahead of data due any day from Turning Point Therapeutics Inc. with repotrectinib (repo) in ROS1-positive non-small-cell lung cancer (NSCLC), CEO Athena Countouriotis said her firm’s product already is differentiating itself from the likes of Xalkori (crizotinib, Pfizer Inc.) and Rozlytrek (entrectinib, Roche Holding AG).
HONG KONG – China and U.S.-based Zai Lab Ltd. has inked a deal to develop and commercialize Turning Point Therapeutics Inc.’s lead drug candidate, repotrectinib, in the greater China markets.
With Moderna Inc. leading the charge with its work on a COVID-19 vaccine, the market is feeling its oats as companies go after money sitting on the sidelines. One of the biggest financings to price this week is San Diego-based Turning Point Therapeutics Inc.’s underwritten public offering of common stock at $60 per share for gross proceeds expected at about $325 million.