) -- Adam Feuerstein's take on the biotech week that was Oct. 11, 2010:
( KG) for $3.6 billion to bolster its pain drug franchise.
CEO Richard Pops (@popsalks)
. Bravo! (via @MikeHuckman)
The news broken by Pops: Finally, a drug approval in October! Alkermes received FDA clearance to market
not as lucky:
receives belated FDA approval for Acthar as a treatment for infantile spasms.
The week's top-performing sector stocks:
Molecular Insight Pharmaceuticals
( MIPI) (+65%),
( KG) (+37%).
Johnson & Johnson's
for patients with advanced prostate cancer.
reported a second clinical trial win for the lymphoma drug brentuximab vedotin.
Matt Herper on the
Cancer drug analyst and blogger Sally Church
spends the week at the European cancer conference known as ESMO
The week's worst-performing sector stocks:
( ANDS) (-17%),
( ANDS) (-16%) and
reports third quarter Cubicin sales of $154 million, lower than the consensus estimate of $162 million. The company reports higher-than-expected earnings for the quarter on lower operating expenses.
The biggest (sore) losers:
Chemist and blogger Derek Lowe takes another
skeptical look at the anti-aging claims
made about GlaxoSmithKline's resveratrol.
Will the withdrawal of Meridia
help or hurt other weight-loss pills
? (via Pharmalot)
editor Ivan Oransky on
"Scrapers" are scouring web sites
reports weaker-than-expected sales of its three most important drugs -- Avastin, Rituxan and Herceptin. Overall, third quarter revenue fell 7%.
strike a licensing deal to develop cancer drugs based on ImmunoGen's "armed antibody" drug delivery technology.
licenses two experimental cancer drugs to
cut 25% of its workforce in a restructuring move.
The week in financings:
($19 million) and
( ANDS) ($25 million).
FDA doesn't always heed the
. (via @matthewherper)
Phase III data on
completes acquisition of
--Written by Adam Feuerstein in Boston.
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