June 29- Celgene Corp said it would invest about $1 billion in Juno Therapeutics Inc to partner in the development and marketing of immunotherapies for the treatment of cancer and autoimmune diseases. Celgene will pay Juno about $150 million upfront and buy about 10 percent of Juno's shares at $93 each, almost double of Juno's closing price on Monday.» Read More
Okay, what were the chances that ImClone would get bought and Dendreon would come out with its interim test results on the same morning? Slim to none, I'd say. But that's exactly what the news gods had in store for two of the hottest names in biotech.
As all eyes remain on Capitol Hill, things remain relatively quiet on the biopharma front. So, it's a good time to go through the Pharma's Market mailbag. The overwhelming majority of emails recently have been about...yeah, you guessed it...Dendreon.
While the Street is focused on the big vote in the Senate tonight on the bailout package, biotech investors will be on the lookout for news out of ImClone Systems. Earlier this week the company announced that its mystery counter-bidder will decide whether to follow through on its $70-a-share offer by midnight tonight.
Eli Lilly has been running direct-to-doctor ads over the past few months telling physicians that Effient, the company's new bloodthinner, is "Coming Soon". Well, it may have jumped the gun.
Today is the day the FDA is expected to make a decision on the drug. The agency could approve it outright, approve it with conditions/limitations, delay making a decision--again--and order more tests, or reject the pill.
There are reports of booze, women and beads--as in Mardi Gras beads. Specifically, the piece cites allegations from a lawsuit brought by a former MDT attorney who says the medical device maker sponsored a "discussion group" outing to New Orleans.
As the press release that came with the book says, "Compact enough to carry in a lab coat pocket, the paperback helps health care practitioners, particularly those who are newcomers to clinical diagnosis, understand and evaluate a wide range of symptoms."
The stock posted its biggest percentage gain in nearly three years and its biggest dollar gain in more than two years, according to CNBC stock-stat maven Robert Hum.
New Eli Lilly CEO John Lechleiter today joins the list of the recent fresh crop of big pharma honchos who've been elevated to Chairman of the Board as well. But that's not what's moving shares of LLY higher this morning.
Not too long ago, some had written off the potential for significant growth to resume in sales of the little wire mesh tubes that are painted with special drugs to help keep arteries from reclogging.
Yesterday afternoon I became a statistic. I am now among the reportedly growing number of people getting injured while texting and--not driving--but walking.
I finished my last ImClone Systems vs. Bristol-Myers Squibb entry asking what Bristol had to say about IMCL's claim of a mystery outbidder. Well, yesterday we found out in a press release from BMY.
At the risk of getting more emails from conspiracy-theorist readers who think I report too much negative news about Pfizer, here comes another setback for the world's biggest drug company.
John Sullivan, the Director of Research at Lerrink Swann, which specializes in healthcare stocks, says there is a potential trading opportunity in the sector related to F & F.
Earlier this week I blogged about Eli Lilly's "Coming Soon" banner ad I spotted in the online edition of "The New England Journal of Medicine." It's designed to generate buzz about the company's crucial new bloodthinner that could win Food and Drug Administration approval this month.
Dendreonians, the wait is over. Dendreon had the second-to-last time slot at the BioCentury/Thomson Reuters biotech investment conference this afternoon.
After Medivation, I moved onto the Orexigen presentation. It's a company I profiled at when it had data on one of its fat-fighting drugs at last year's diabetes conference, so I wanted to check up on its progress.
A little more than 24 hours after announcing its big, lucrative Alzheimer's drug partnership with Pfizer, Medivation had the lead-off position (I wonder if they told organizers they'd be a newsmaker) at today's BioCentury/Thomson Reuters biotech investment conference in New York City.
Today I will be attending and blogging from the 15th Annual Newsmakers in the Biotech Industry conference which is put on by BioCentury Publications and Thomson Reuters. Three dozen biotechs will be making presentations and then doing hour-long q and a's during breakout sessions.
In late July at a big scientific conference in Chicago, I reported on new, positive data on Medivation's experimental Alzheimer's drug Dimebon (dim-uh-bahn).