Amgen to buy $2.7 billion stake in Chinese biotech

U.S. drugmaker Amgen Inc. said it is buying a roughly 20% stake in a Chinese biotechnology company for $2.7 billion in cash, further demonstrating China’s emergence as a key market for foreign pharmaceutical companies. Amgen said BeiGene Ltd., a Beijing-based company focused on oncology, is going to commercialize certain Amgen treatments in China and will split those earnings or losses. […]

Read more

Medicare would cover CAR-T cell therapies under new CMS proposal

A new proposal from the Centers for Medicare & Medicaid Services would have Medicare cover FDA-approved CAR T-cell therapies, according to a Friday announcement from the agency. CAR T-cell therapy is a new form of cancer therapy that harnesses a patient’s own immune system to fight the disease. There are currently only two approved CAR-T cell therapies, Novartis’s NVS, +0.65% […]

Read more

Pain Therapeutics stock plunges after company slams FDA for refusing to approve drug

Shares of biotech Pain Therapeutics Inc. PTIE, -8.05% fell 18% Tuesday after the company released a statement railing against the U.S. Food and Drug Administration’s refusal to approve drug candidate Remoxy, an extended-release form of oxycodone that the company says has abuse-deterrent qualities. Pain Therapeutics accused the FDA of making “math errors, material mistakes or misrepresentations” during its June advisory committee […]

Read more

Investors push again for Allergan to make management changes

Shares of Dublin-based Allergan Plc AGN, +0.73% rose 0.8% on Tuesday morning after hedge-fund firms Appaloosa LP and Senator Investment Group reiterated their calls for the drug company to separate its CEO and chairman roles. The firms had previously asked the board to separate the roles in separate letters sent in April, May and June. The CEO and chairman roles […]

Read more

Celgene shareholders, rejoice — you’ve been given a way out, analysts say

On Thursday, most analysts could agree on one thing: Bristol-Myers Squibb Co.’s BMY, -14.11%   agreement to acquire Celgene Corp. CELG, +21.85% is a very good thing for Celgene’s shareholders. Read: Bristol-Myers Squibb agrees to acquire Celgene for about $74 Billion Also: Boston Scientific’s latest deal is a good fit, analysts say “Celgene’s long-suffering investors are saved from their exposure to the […]

Read more
1 2