ASH Data Give Millennium’s Velcade A Boost, Raise Bar For Competitors
Myeloma trial data released at the American Society of Hematology meeting promises to further lift utilization for Takeda/Millennium's proteasome inhibitor Velcade, which just passed $1 billion in sales
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With acquisition of biotech Proteolix for $276 million upfront (and another $535 million in milestones), Onyx gains a promising multiple myeloma drug.
Takeda announced June 27 that U.S. FDA had denied approval of its type 2 diabetes agent alogliptin, a potential blockbuster poised to compete with similar molecules from Merck and the team of Bristol-Myers Squibb and AstraZeneca. The setback will delay alogliptin's launch by at least three years - and possibly longer - depending on the additional studies required by regulators
Negative news increases pressure on Japanese pharma's oncology subsidiary Millennium Pharmaceuticals to perform.