Deals Of The Week Wonders: Will Pharma Ever Pay More For Companion Diagnostics?
Partnerships between Lilly/Qiagen and BioMarin/Myriad highlight the increasing pace of deals to develop companion diagnostics as the importance of biomarkers and tests to drug development increases. In other deals Clovis buys Eos, Amicus buys Callidus and Versant gives Celgene and Bayer options to acquire drug assets.
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Biotech re-obtains all rights to migalastat from GSK, buys out ERT specialist Callidus and will raise $40 million through a private placement and a debt financing. Callidus co-founder, a former Genzyme scientist, will take over the Amicus’ scientific team, while the company slashes its overall headcount by 14%.
The newly created company hopes to be a full-service outlet for its pharmaceutical clients now that its offerings will be in more territories and encompass more services, including APIs, dosage and softgel formulations.
Pfizer’s emphasis on oncology has yielded three new drug approvals in the last 20 months and another two promising drugs on the horizon. It is a notable achievement, but investors may be wondering when the results are going to be felt on the top line.