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☆ AstraZeneca bets on new cancer treatments with $2 billion Fusion Pharma purchase
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +2 min

AstraZeneca said on Tuesday it will buy clinical-stage biopharmaceutical company Fusion Pharmaceuticals Inc for about $2 billion in cash as the Anglo-Swedish drugmaker bets on next-generation cancer treatments. The drugmaker will pay $21 per Fusion share, a premium of more than 97% to the U.S.-listed company's closing price on Monday. Fusion is developing "next-generation" radioconjugates (RCs) to treat cancer. RCs deliver a radioactive isotope directly to cancer cells through precise targeting using molecules and have emerged as a promising modality in cancer treatment over recent years, AstraZeneca said. Radiotherapy and chemotherapy have been the mainstays of cancer treatment for decades.

Persons: AstraZeneca, Susan Galbraith Organizations: Fusion Pharmaceuticals Inc, Amolyt Pharma, AstraZeneca, Fusion, Oncology, U.S . Food, Drug Administration, FDA Locations: Swedish, U.S, radioconjugates

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Gilead stock falls after lung cancer study results disappoint
▼ + stars: | 2024-01-22 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

The results are a blow to Gilead, which is working to become a power player in the cancer space. Patients with advanced or metastatic non-small cell lung cancer who took Trodelvy lived longer than those who got chemotherapy alone, according to Gilead. The drugmaker said it will discuss the results with regulators and identify whether certain lung cancer patients may still benefit from the drug. Jefferies analyst Michael Yee said Gilead's trial results are not "totally surprising" to the firm because data from early studies was mixed and data for competing drugs was "lackluster." Yee added that the trial results could "dent" investor confidence about whether Gilead will have significant sales in oncology.

Persons: Trodelvy, Michael Yee, Yee, Gilead Organizations: Jefferies Locations: Gilead

☆ Biotech and pharma companies are betting on a promising class of cancer drugs to drive growth
▼ + stars: | 2024-01-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

SAN FRANCISCO — An established but promising group of cancer drugs was a red-hot market in 2023, and more companies could look to the treatments to fuel growth in the year ahead. Interest in the drugs will only continue this year, as some analysts expect more dealmaking and advancements in ADCs currently in development. The drugs also have potential to draw huge profits: ADCs could account for $31 billion of the $375 billion worldwide cancer market in 2028, according to estimates from the drug market research firm Evaluate. The market for those drugs in 2023 was estimated to be worth around $9.7 billion, another report from research firm MarketsandMarkets said. Everyone wants to gain exposure to [ADCs] and basically make it a cornerstone of their entire corporate strategy," Hsieh told CNBC.

Persons: FRANCISCO —, Johnson, Andy Hsieh, William Blair, MarketsandMarkets, Hsieh Organizations: FRANCISCO, JPMorgan Healthcare Conference, ADC, Pfizer, Merck, William Blair & Company, CNBC Locations: San Francisco, ADCs, drugmakers, Asia

☆ AbbVie to Buy Cancer Biotech ImmunoGen for More Than $10 Billion
▼ + stars: | 2023-11-30 | by ( Jared S. Hopkins | Colin Kellaher | ) www.wsj.com time to read: 1 min

If the deal goes through, AbbVie would acquire ImmunoGen’s flagship cancer therapy Elahere. Photo: Brian L. Frank for The Wall Street JournalDrug company AbbVie has agreed to buy biotech ImmunoGen for $10.1 billion in a new bet on one of the most promising novel drug technologies for attacking cancer. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which work like guided missiles delivering a toxic agent directly to tumors. The technology is among the hottest areas in the pharmaceutical industry. Recent advancements have spread its use to common kinds of cancer such as breast, spawning other multibillion-dollar deals.

Persons: AbbVie, Brian L, Frank, ImmunoGen Organizations: The Wall Street Journal

☆ Biotech stocks jump on AbbVie deal to buy cancer drugmaker ImmunoGen for $10 billion
▼ + stars: | 2023-11-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which are designed to directly kill cancer cells and spare healthy ones. Shares of other biotech companies developing ADCs, which are among the hottest areas in the pharmaceutical industry, jumped on the news of the buyout. The SPDR S&P Biotech ETF , which focuses on small and midsize biotech companies, rose 3% Thursday. Under the terms of the deal, AbbVie will pay $31.26 a share in cash for ImmunoGen, a roughly 95% premium to Wednesday's closing price.

Persons: AbbVie, ImmunoGen, Michael Schmidt Organizations: Biotech, Mersana Therapeutics, ADC Therapeutics, P Biotech ETF, Nasdaq Biotechnology, ImmunoGen, Pfizer, Merck, CNBC PRO Locations: ADCs

☆ AbbVie to buy cancer drugmaker ImmunoGen for $10 billion as Humira faces heat
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 30 (Reuters) - AbbVie (ABBV.N) will buy ImmunoGen (IMGN.O) for $10.1 billion in cash, it said on Thursday, the latest major drugmaker to buy a developer of 'guided missile' cancer therapies as the company's top-seller Humira grapples with fierce competition. ImmunoGen's Elahere belongs to a new class of treatments called antibody-drug conjugates (ADC) that precisely targets cancer cells, potentially reducing toxicity for other cells. The drug, approved for ovarian cancer patients who have received previous therapies, is also being tested in earlier lines of treatment. AbbVie will also get access to Immunogen's follow-on pipeline of ADCs, including early-stage ovarian cancer candidate IMGN-151 and a mid-stage drug pivekimab sunirine for a rare type of blood cancer. Meanwhile, AbbVie's cancer drugs sales declined more than 8% in the third quarter to $1.51 billion, primarily due to increased competition to Imbruvica.

Persons: Brian Snyder, ImmunoGen's Elahere, AbbVie, IMGN, pivekimab, Immuogen stock's, Immunogen's, Elahere, Imbruvica, Manas Mishra, Leroy Leo, Shinjini Ganguli Organizations: REUTERS, Pfizer, Merck, U.S, Thomson Locations: Cambridge , Massachusetts, U.S, Bengaluru

☆ RBC lists antibody-drug conjugates (ADCs) as $30 billion category by 2030
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC lists antibody-drug conjugates (ADCs) as $30 billion category by 2030CNBC's Angelica Peebles reports on opportunities in the pharmaceutical sector.

Persons: Angelica Peebles Organizations: RBC

The announcement sent shares of Daiichi Sankyo (4568.T) up 12% in early trading in Tokyo on Friday, raising expectations for its cancer drug pipeline. The companies will jointly and potentially commercialise the drug candidates worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights, they said. Merck will pay Daiichi Sankyo $4 billion upfront in addition to $1.5 billion in continuation payments over the next two years. Merck may make additional payments of up to $16.5 billion contingent on future sales milestones, or $5.5 billion for each product. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca (AZN.L).

Persons: Andrew Kelly, Drugmaker Merck, patritumab, ifinatamab, raludotatug, Merck, David Dolan, Kanjyik Ghosh, Miyoung Kim, Jamie Freed Organizations: Merck & Co, REUTERS, Merck, AstraZeneca, Thomson Locations: Kenilworth , New Jersey, U.S, TOKYO, Daiichi, Tokyo, Japan, Bengaluru

☆ Cancer Drug Advancements Give New Hope to Metastatic Patients - The New York Times
▼ + stars: | 2023-06-16 | by ( Kate Pickert | ) www.nytimes.com time to read: +3 min

In some cases, patients like Ms. MacKenzie with cancer that has spread inside their bodies — called metastatic disease — are able to stay alive much longer than previously predicted. Until recently, the prevailing wisdom in oncology was that many early-stage cancer patients could be cured, but metastatic disease was almost always incurable. This thinking drove cancer research, treatment and care for decades. Since metastatic disease was usually considered incurable, research focused on early-stage disease. Right now, two relatively new classes of cancer drugs are displacing traditional chemotherapy for many types of cancer and giving metastatic patients, in particular, more time.

Persons: MacKenzie, Oncologists, John McCain —

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Pfizer CEO says it will be able to deliver Seagen's cancer therapy at a scale not seen before with $43 billion deal
▼ + stars: | 2023-03-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Pfizer CEO Albert Bourla on Monday said the pharmaceutical giant will be able to deliver Seagen's cancer therapy to the world "at a scale that has not been seen before" with its $43 billion acquisition. Seagen will bulk up Pfizer's cancer treatment portfolio, bringing four approved cancer therapies with combined sales of nearly $2 billion in 2022. "These medicines are on a strong growth trajectory, with significant lifecycle programs anticipated to drive continued impact uptake and growth," Bourla said on a conference call earlier Monday morning. Seagen expects to generate about $2.2 billion in revenue this year, representing 12% year-over-year growth, according to a Pfizer press release. Pfizer added that Seagen could contribute more than $10 billion in risk-adjusted sales by 2030, "with potential for significant growth" beyond that year.

☆ Pfizer signs $43 bln Seagen deal in cancer drug push
▼ + stars: | 2023-03-13 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

The deal, Pfizer's biggest in a string of acquisitions after a once-in-a-lifetime cash windfall from its COVID-19 vaccine and pill, will add four approved cancer therapies with combined sales of nearly $2 billion in 2022. Pfizer will pay $229 in cash per Seagen share, a 32.7% premium to Friday's closing price. The drugmaker expects more than $10 billion in "risk-adjusted" sales from Seagen in 2030. Pfizer's portfolio of oncology therapies includes 24 approved drugs, including breast cancer treatment Ibrance. Pfizer rival Merck & Co Inc (MRK.N) and Seagen were in advanced deal talks last year but that reportedly collapsed over fears of tough antitrust scrutiny.

☆ Why Big Drugmakers Want to Buy Cancer Biotech Seagen
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Pfizer is one drugmaker that has shown interest in buying Seagen, The Wall Street Journal recently reported. An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets. Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss, it has a market valuation of roughly $30 billion.

☆ Seagen’s Cancer Therapy Is Making It a Takeover Target
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

☆ Pfizer in talks to buy cancer drugmaker Seagen - WSJ
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Pfizer Inc (PFE.N) is in early-stage talks to acquire cancer drugmaker Seagen Inc (SGEN.O) in a potential multi-billion dollar deal, the Wall Street Journal reported, after advanced discussions between Merck (MRK.N) and Seagen fell through last year. Seagen had a market capitalization of roughly $30 billion, as of Friday's close. Its shares have fallen nearly 10% since July, when the deal talks with Merck were first reported. Pfizer declined to comment on the WSJ report, while Seagen did not immediately respond to a Reuters request for comment. Merck, which bought ADC-maker Imago BioSciences for $1.35 billion in November, is unlikely to show renewed interest in Seagen, analysts said.

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