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Pharmaceuticals, health and wellness

GBT chief blames COVID-19 for ‘clear’ slowdown in Oxbryta launch, but analysts are still impressed

Global Blood Therapeutics’ sickle cell disease medicine Oxbryta got off to a hot start after a November FDA approval. But early in its launch, execs now say they’re seeing a “clear headwind” from the COVID-19 pandemic. About 2,000 patients have been prescribed the new drug in the early months of the rollout. But lately, new patient […]

Amgen ramps up Otezla expansion effort with positive data in mild psoriasis

Ever since Amgen bought Celgene’s psoriasis drug Otezla for an eye-popping $13.4 billion last summer, the company has been promising investors it would find enough new markets for the drug to justify the investment. Now, it’s taking a step in that direction with a plan to apply to the FDA for a label expansion into […]

Seattle Genetics’ bladder cancer med Padcev blows early expectations out of the water

Even a pandemic can’t slow Seattle Genetics’ new bladder cancer treatment Padcev down—and analysts are jacking up their sales estimates for the drug as a result. In its first quarter on the market after a mid-December FDA approval, the therapy “blew out expectations … exceeding consensus estimates” by four- to fivefold with $34.5 million in […]

Remdesivir, check. Now, analysts are looking ahead to ‘several’ COVID-19 drugs to come

Gilead made waves on Friday with its emergency FDA approval for remdesivir quickly on the heels of a controlled trial data release. But while it’s an important first step, other COVID-19 medicines will likely be coming down the line, analysts with SVB Leerink wrote. The drug is just the “first of several” expected medicines to treat COVID-19, SVB […]

Gilead’s remdesivir scores emergency FDA nod in COVID-19 days after big data reveal

Days after U.S. officials and others reported the first positive controlled data for Gilead’s remdesivir in COVID-19, the FDA has given the drug an emergency use authorization. President Donald Trump and Gilead CEO Daniel O’Day made the announcement Friday afternoon at the White House, according to CNBC’s Meg Tirrell. An FDA fact sheet on the […]

AbbVie CEO: Don’t worry, Allergan’s aesthetics clients still have money—and ‘strong desire’ for treatment

AbbVie may be working through COVID-19, but it’s pressing ahead with its Allergan merger, too—and taking stock of products hit by pandemic lockdowns. That puts Allergan’s aesthetics business top of mind, but AbbVie CEO Rick Gonzalez figures customers are ready and able to return quickly for treatment. With social distancing the rule of the day, […]

Gilead in talks to expand COVID-19 hopeful remdesivir supply chains with outside partner

Gilead Sciences scored a massive win earlier this week with its first positive data readout for investigational candidate remdesivir in treating patients with severe COVID-19. Gilead already has its own supply of the drug humming in anticipation of high demand, but opportunities are out there for a partner to join in.  Eyeing a limited supply […]

Vertex, even amid pandemic, raises sales projections thanks to gangbusters start for Trikafta

Even as some pandemic-hit drugmakers lower their revenue expectations for the year—or pull their guidance altogether—Vertex has hit its stride with its Trikafta launch and raised its 2020 sales projections.  Following an FDA approval that came five months early, Vertex’s new triple combo cystic fibrosis drug Trikafta pulled in $895 million in its first full quarter on the market. The […]

M&A-minded Piramal near $500M deal to sell pharma stake to KKR: report

Indian contract manufacturer and generics maker Piramal has invested millions in recent years to boost production of high-potency pharmaceutical ingredients at its Michigan plant and abroad. Now, an outside investor could help the CDMO’s parent company on its quest to grow through major acquisitions.   India’s Piramal Enterprises may sell a 20% minority stake in the pharma unit—a […]

With sales team sidelined by COVID-19, Pfizer braces for a second-quarter revenue hit

With a looming spinoff of its underperforming Upjohn generics business, Pfizer is working to get its branded drug unit in shape to strike out on its own. But with the novel coronavirus pandemic hamstringing its sales team, Pfizer might be due for a world of hurt in the coming quarter.  Because of disruptions from the novel […]

India pharma manufacturing hub back up and running after COVID-19 lockdown: report

With the spotlight on the global pharmaceutical supply chain, a lockdown at a major Indian manufacturing hub earlier this month caused waves of unrest. Now, weeks later, that hub is back up and running—but concerns about India’s control of the U.S. drug supply tap are still alive and well.  A manufacturing campus in Baddi, India—responsible for […]

China’s Sinovac amps up COVID-19 vaccine work with new facility backed by Chinese government

Chinese biotech Sinovac, one of many drugmakers seeking a COVID-19 vaccine, is leveraging aid from the People’s Republic of China to help it cross the finish line. But first, Sinovac will have to build out a massive new facility on the government’s dime. With financial backing from the Chinese government, Sinovac will erect a new vaccine production facility […]