AstraZeneca’s bold move to buy 55 percent of privately held biotech firm Acerta Pharma for $4 billion in December has been vindicated, at least in part, by the award of special “orphan” status to the key experimental drug involved.
The drugmaker said on Thursday that the European Medicines Agency had recommended acalabrutinib as an orphan product for chronic lymphocytic leukaemia or small lymphocytic lymphoma, mantle cell lymphoma and lymphoplasmacytic lymphoma.
Orphan status is awarded to medicines promising significant benefit in the treatment of rare, life-threatening diseases and the designation provides companies with special development and market exclusivity incentives.
AstraZeneca bought control of Acerta to get its hands on acalabrutinib, which it believes could generate sales of more than $5 billion a year. The drug is currently in the final stages of clinical development for various blood cancers.
Acalabrutinib works in a similar way to AbbVie and Johnson & Johnson’s Imbruvica. But AstraZeneca reckons it has fewer side effects than Imbruvica and potentially better efficacy. Rival drugs are further behind in development.
Acerta shareholders will have the option to sell the remaining 45 percent of shares in the biotech company to AstraZeneca for approximately $3 billion once acalabrutinib has been approved in both the United States and Europe.
The new medicine is a so-called Burton’s tyrosine kinase inhibitor that targets an array of blood cancers and potentially some solid tumors. It may also help in autoimmune diseases such as rheumatoid arthritis and lupus.
By Ben Hirschler; editing by Jason Neely
Source: Reuters
A monkeypox outbreak is emerging in the U.S. and Europe, and at least one country is amping up countermeasure preparedness. Bavarian Nordic has secured a contract with an unnamed European country to supply its smallpox vaccine, called Imvanex in Europe, in response to the emergence of monkeypox cases, the Danish company said Thursday.
Moderna’s recent chief financial officer debacle—in which Jorge Gomez departed on his second day on the job—raised questions about the company’s hiring process given its rush to global biopharma prominence. The most obvious one: How was it possible for Gomez to be hired when he was under investigation by his previous employer, Dentsply Sirona of Charlotte, N.C.
Merck & Co. is plucking a cancer project from the branch of Chinese-based Kelun Pharmaceutical for up to $1.4 billion, but details from the New Jersey-based Big Pharma have been hard to come by. The deal, first disclosed Monday on the Shenzhen stock exchange, has Merck handing over $47 million in upfront cash in exchange for ex-China rights to a “macromolecular tumor project.”
