Deal Watch: Allergan Makes Another Defensive Play Against Valeant Takeover
In a pair of diabetes-related transaction, Sanofi pays $175 million upfront to MannKind for worldwide license to inhaled insulin Afrezza, while Janssen options Phase I stem cell program from ViaCyte. Novartis gets purchase option for stem-cell biotech Gamida Cell and MorphoSys in-licenses a preclinical prostate cancer antibody candidate from Emergent BioSolutions.
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One Seattle biotech took over another Seattle biotech in hopes of making a stronger oncology player that has the capabilities to develop its own drugs. It also hopes the acquisition will give it more business development opportunities.
Production of insulin powder inhaler cartridges at Connecticut facility will triple to 400 million a year by launch, which firm expects in 2015.
Merck beats out bids from AbbVie and Johnson & Johnson for Idenix Pharmaceuticals, gaining possession of three promising HCV drug candidates.