Novartis And Idenix Break Up
This article was originally published in The Pink Sheet Daily
Novartis and Idenix have all but ended the co-development and commercialization agreement that was established in 2003 and gave Novartis a controlling option in the company.
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The Phase I-ready compound joins alisporivir, a cyclophilin inhibitor licensed from Debiopharm in 2010, in Novartis’ rather slight portfolio of HCV candidates.
Bristol’s $2.5 billion tender for Inhibitex left many industry observers waiting to see what HCV players will do with only two independent pure-play HCV biotechs left. Idenix is eager to get its mid-stage nucleotide free of an FDA partial clinical hold, while Achillion says it has the assets to go it alone in the HCV competition.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.