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Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb and Alder Biopharmaceuticals announced a global agreement for the development and commercialization of ALD518, a novel biologic that has completed Phase IIa development for the treatment of rheumatoid arthritis.
Under the terms of the collaboration agreement, Alder will grant to Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518 for all potential indications except cancer, for which Alder will retain rights and grant Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. An upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, potential sales-based milestones which, under certain circumstances, may exceed $200 million, and royalties on net sales are payable to Alder by Bristol-Myers Squibb.

Nov 12 · 5:02:00 PM · Source: Reuters
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by Michael Oliveto

Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb and ZymoGenetics presented final results from a Phase 1b clinical trial of PEG-Interferon lambda administered with ribavirin in relapsed and treatment-naïve hepatitis C virus (HCV) patients. Antiviral activity was observed at all dose levels tested.
“There is a strong need for additional options for hepatitis C patients,” said Brian Daniels, M.D., senior vice president, Global Development & Medical Affairs, Bristol-Myers Squibb. “We are pursuing this investigational pathway to address the fact that although current interferons have been the backbone of therapy with meaningful efficacy, they are often poorly tolerated, leading to dose reductions, poor compliance and avoidance of treatment.”

Nov 12 · 4:53:00 PM · Source: Business Wire · Related: ZymoGenetics Inc.
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by Michael Oliveto

Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb and Exelixis reported phase 2 clinical data which show that XL184 demonstrated activity in patients with glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
The study evaluates the safety, tolerability, and clinical activity of XL184 at continuous daily doses of 175 mg or 125 mg in patients with previously treated GBM, including some patients who had received prior antiangiogenic therapy.

Nov 12 · 4:49:00 PM · Source: Business Wire · Related: Exelixis Inc.
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by Michael Oliveto

Baxter International (BAX)

Baxter announced that it has declared a quarterly dividend of $0.29 per Company common share.
This represents an increase of approximately 12% over the previous quarterly rate of $0.26 per share. The dividend is payable on January 5, 2010, to shareholders of record as of the close of business on December 10, 2009.

Nov 12 · 4:35:00 PM · Source: Reuters
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by Michael Oliveto

Abbott Labs (ABT)

Abbott Laboratories announced a definitive agreement to acquire the global rights to PanGenetics BV's PG110 fully humanized antibody to Nerve Growth Factor (NGF).
PG110 is a biologic in Phase I clinical trial development that targets NGF for the treatment of chronic pain. NGF is released at sites of tissue damage and inflammation, and plays a significant role in the transmission of pain signals by the central nervous system.

Nov 12 · 1:53:00 PM · Source: Reuters
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by Michael Oliveto

Abbott Labs (ABT)

The law firm Arnold & Itkin LLP has filed five lawsuits against the makers of pain pumps and related medications, including Abbott Labs, based on claims that many of the companies' defective devices are causing irreversible shoulder damage among patients. Currently, the attorneys at Arnold & Itkin are representing 28 people who received pain pumps to manage pain following shoulder surgery.
According to the lawsuits, pain pump manufacturers were denied approval by the U.S. Food and Drug Administration to use the pumps to mitigate pain in shoulder joints, but the companies continued to promote their use in that way. Many former pain pump users say the companies were negligent in designing, researching and selling pain pumps that they should have known were dangerous.

Nov 12 · 1:51:00 PM · Source: Reuters
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by Michael Oliveto

Abbott Labs (ABT)

The U.S. Justice Department is investigating Abbott Laboratories' sales and marketing activities for its anti-seizure drug Depakote, the drug maker disclosed.
Abbott said in a regulatory filing that the U.S. Attorney for the Western District of Virginia is seeking to determine whether Abbott's marketing activities violated civil or criminal laws including the Federal False Claims Act, the Food and Drug Cosmetic Act, and the Anti-Kickback Statute "in connection with Medicare and/or Medicaid reimbursement to third parties."

Nov 11 · 3:23:00 PM
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by Michael Oliveto

Pfizer (PFE)

Pfizer said Monday it will cease research-and-development activities in Research Triangle Park and Sanford as part of a major restructuring. The announcement comes less than three weeks after the pharmaceutical giant officially brought Wyeth into the fold. The restructuring will trim the number of R&D sites at Pfizer to five main locations and nine specialized units, down from 20 sites at the close of the Wyeth deal Oct. 16.

Nov 9 · 7:24:00 PM · Source: Triangle Business Journal
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by Larry Etter

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