• Human Genome Sciences Inc., of Rockville, Md., reported fourth-quarter 2011 revenues of $45.5 million, with $25.7 million coming from sales of lupus drug Benlysta (belimumab), in line with what the firm had pre-announced last month. Net loss for the quarter totaled $81 million, or 41 cents per share, narrower than the consensus estimates of a loss of 43 cents per share. Read More
• Forest Laboratories Inc., of New York, reported top-line results from two Phase III trials of cariprazine (RGH-188) in acute exacerbation of schizophrenia, showing that patients treated with the dopamine D3-preferring D3/D2 receptor partial agonist experienced significant symptom improvement compared to the placebo group, as measured by the Positive And Negative Syndrome Scale, the primary endpoint in both studies. Read More
• Bristol-Myers Squibb Co., of New York, said it formed a relationship with Duke Translational Medicine Institute (DTMI), which will build on a decade of collaboration in cardiology, endocrinology and oncology and extend into other therapeutic areas at all stages of development. Read More
• Cempra Inc., of Chapel Hill, N.C., said underwriters of its initial public offering exercised in full their option to purchase an additional 1.26 million shares of common stock at $6 per share, closing the overallotment on Feb. 27 and netting the company about $54.7 million from the offering. Cempra plans to use the proceeds to develop two of its product candidates, CEM-101 and Taksta. Read More
• AVI BioPharma Inc., of Bothell, Wash., said it received approval from the FDA to proceed with a single oligomer, AVI-7288, in studies in both humans and nonhuman primates to support the safety and efficacy of post-exposure prophylaxis against Marburg virus infection. AVI-7288 is one of the two components that make up AVI-6003. AVI is conducting the work under a Department of Defense contract. Read More
Shares in struggling German drug developer Paion AG soared by more than 30 percent Tuesday on news that its partner, Lundbeck A/S, was handing it a financial lifeline by agreeing to pay €20.1 million (US$27 million) to acquire all outstanding rights to its Phase III stroke drug desmoteplase. Read More
VANCOUVER, British Columbia – In the near future, Asian markets of the Pacific Rim region, including China, will contribute 40 percent of overall global pharmaceutical industry growth, which is expected to reach $156 billion annually by 2014, despite growing price interventions, according to Technology Visions Group LLC partner Robert Kilpatrick, who led a leadership session on Pacific Rim dealmaking at the BioPartnering North America conference. Read More
Polyglutamine stretches in proteins underlie a whole family of neurodegenerative diseases – the so-called poly-Q diseases. Huntington's disease is the most common member of the group, but it also includes less frequent disorders like spinocerebellar ataxia. Read More
WASHINGTON – After months and months of negotiating the provisions of PDUFA V with the FDA, biopharma is holding its collective breath as the user fee agreement wends its way through the congressional process. Read More
• pSivida Corp., of Watertown, Mass., said the UK's Medicines and Healthcare Products Regulatory Agency accepted for reivew the marketing application for diabetic macular edema (DME) drug Iluvien (fluocinolone acetonide intravitreal insert) via the European decentralized procedure. Iluvien will be indicated for vision impairment associated with chronic DME considered insufficiently responsive to other therapies. Read More
