Deal Watch: Valeant Increases Bid, Wrests Salix Away From Endo
Janssen moves into a new generation of anticoagulation with X01 buyout. Lilly obtains Phase II-ready autoimmune candidate from South Korea’s Hanmi, which partnered a cancer compound with Spectrum just a week earlier, while AstraZeneca finds a commercialization partner for Movantik in Japan’s Daiichi Sankyo.
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Naloxegol is currently a Schedule II controlled substance due to its structural similarity to another compound; AstraZeneca seeks descheduling of the constipation drug, which labeling states poses no risk of abuse or dependency.
A chance discovery at a U.K. hospital led to the synthesis of an antibody that could prevent blood clots without causing excessive bleeding. Index Ventures created and funded single-asset company XO1 to conduct first-in-man tests on the compound by 2015.
The company’s new CEO Richard Francis is aiming for revenue growth this year; it would be the first time since 2017.