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☆ 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

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ Sanofi says arbitration court rejects Boehringer's Zantac claims
▼ + stars: | 2023-06-20 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

FRANKFURT, June 20 (Reuters) - Sanofi (SASY.PA) said on Tuesday that the International Chamber of Commerce rejected rival drugmaker Boehringer Ingelheim's (BI) claims to be indemnified by Sanofi in cancer lawsuits linked to heartburn drug Zantac in the United States. Shares in France's Sanofi, which added that the decision cannot be appealed, gained 2.4% shortly after the 0700 GMT market open, reaching a three-week high. Sanofi and Boehringer had sought arbitration to determine whether liability in lawsuits was transferred to the French group after it acquired the marketing rights from Boehringer in a 2017 deal. Sanofi reiterated that it regarded its defence of the underlying litigation as very strong. "There is no reliable scientific evidence that Zantac causes the alleged injuries in the cases brought against GSK, Pfizer, BI, Sanofi, and others in the U.S. litigation," the company said.

Persons: drugmaker Boehringer, Boehringer, Sanofi, Ludwig Burger, Kirsten Donovan, Emma Rumney Organizations: Sanofi, International Chamber of Commerce, GSK, Pfizer, BI, Thomson Locations: FRANKFURT, United States, Boehringer, U.S

Dec 6 (Reuters) - Drugmakers GSK Plc (GSK.L), Pfizer Inc (PFE.N), Sanofi SA (SASY.PA) and Boehringer Ingelheim on Tuesday were spared thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. A spokesperson for GSK said the company welcomed the decision and Pfizer said it was pleased by the outcome. Originally marketed by a forerunner of GSK, it was later sold successively to Pfizer, Boehringer Ingelheim and finally Sanofi. Lawsuits began piling up soon after the recalls began from people who said they developed cancer after taking Zantac. State court judges will also have to rule on whether to allow plaintiffs' experts on Zantac's alleged cancer risks before state cases can go to trial.

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