The FDA has approved Keryx Biopharmaceuticals, Inc’s (KERX) ferric citrate to control serum phosphorus levels in patients suffering from chronic kidney disease (CKD) on dialysis. However, the news adversely affected the stock price, which fell more than 5%, as the drug was approved with several warnings. Ferric citrate is not recommended for patients with an…
In order to boost its pipeline, AbbVie Inc (ABBV) inked a collaboration agreement with Infinity Pharmaceuticals (INFI) to develop and commercialize the latter’s oncology candidate duvelisib (IPI-145). Infinity Pharma’s shares jumped over 44% following the announcement. AbbVie will be making an upfront payment of $275 million to Infinity Pharma to jointly commercialize duvelisib in the…
On Wednesday, September 10, 2014, the NASDAQ Composite ended at 4,592.29, up 0.20%, the Dow Jones Industrial Average declined 0.15%, to finish the day at 17,111.42, and the S&P 500 closed at 2,001.54, down 0.31%. The losses were broad based as eight out of ten sectors ended the session in negative. The S&P 500 Health…
Alexion Pharmaceuticals’ (ALXN) sole marketed product is Soliris (eculizumab). Soliris is available for the treatment of two rare genetic disorders – paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome. As the company is entirely dependent on Soliris for growth, it should look to avoid any setback related to the product. However, the FDA seems to…
Highlights in the biotech sector last week include a favorable court ruling for United Therapeutics’ (UTHR) in a patent infringement case, positive late-stage data on Repros Therapeutics’ (RPRX) testosterone replacement treatment and the filing of the first Biologics License Application (BLA) for a PCSK9 inhibitor. United Therapeutics scored a huge win in its patent infringement…
BioMarin Pharmaceutical (BMRN) lowered its guidance for 2014 revenues after a thorough evaluation of its transaction with Regeneron Ireland, an indirect, wholly owned subsidiary of Regeneron Pharmaceuticals. Along with its earnings release last month BioMarin had announced the sale of the rare pediatric disease priority review voucher for $67.5 million to Regeneron. The biopharmaceutical company…
