- AstraZeneca boosts respiratory business with Pearl Therapeutics buy
AstraZeneca agreed to acquire Pearl Therapeutics, a U.S.-based company specializing in respiratory treatments, for as much as $1.15 billion as part of efforts to boost its drug pipeline. The price includes $560 million upfront plus as much as $450 million in development milestone fees and an additional $140 million if certain sales targets are hit. The deal gives AstraZeneca a key position in the emerging market for LABA/LAMA inhalers, which some analysts believe will become the dominant treatment for chronic obstructive pulmonary disease in the future. Reuters (6/10), The Wall Street Journal/Dow Jones Newswires (6/10)        | Too Big to Succeed: Where are Large Pharmas Heading?
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 | Health Care & Policy |  |  | | - Myriad case will set bad precedent, patent lawyer forecasts
Myriad Genetics' Supreme Court case frames the question of patents and genes in a way that's likely to hurt the life sciences industry, said patent lawyer Mercedes K. Meyer, an American Intellectual Property Law Association board member. "The headline is going to be, 'Human genes are not patentable.' Based on the nature of the question, that's what we expect the announcement to be," she said. The potential for a bad precedent was so great that "industry people went to Myriad and said just abandon the case, but they didn't listen to industry leaders," she said. The Philadelphia Inquirer/Philly Pharma blog (6/10) - Roche's RoActemra wins EU approval for pediatric arthritis
Roche Holding obtained approval from the European Medicines Agency to market RoActemra for children 2 and older with a rare type of childhood arthritis. The rheumatoid arthritis drug, known as Actemra outside Europe, is indicated for children who failed to respond to methotrexate. Reuters (6/10) | Company & Financial News | | | | - AbbVie joins $11.4M round for developer of anti-TNF drugs
Avaxia Biologics, which seeks to develop anti-tumor necrosis factor drugs designed to work only in the gut, secured $11.4 million in a Series B funding round. AbbVie's venture capital arm AbbVie Biotech Ventures joined the round. Avaxia will use the money mainly to support a Phase I study of AVX-470, its lead antibody drug candidate for ulcerative colitis. Xconomy/Boston (6/7) | Food & Agriculture | | | | | Hot Topics | | | | Top five news stories selected by BIO SmartBrief readers in the past week. - Results based on number of times each story was clicked by readers.
| Industrial & Environmental | | | | - Neste Oil signs deal to buy crude algae oil from Cellana
Finland's Neste Oil has signed a multiyear deal to purchase crude algae oil from commercial-scale biorefineries that Hawaii-based Cellana is developing across the globe, the companies said. The deal is contingent on Cellana's output capacity and compliance with future biofuel regulations in the U.S. and Europe, as well as other conditions. The deal "illustrates the success of U.S. federal government agencies in funding advanced research and development at companies like Cellana that are nearing commercialization," said Cellana CEO Martin Sabarsky. American City Business Journals/Honolulu (6/6) | News from BIO | | | | - Save on energy costs through BIO's newest cost-savings program
BIO has recently aligned with APPI Energy, an energy consulting firm, to assist member companies with reducing their energy expenses. APPI Energy, the preferred energy consultant of 140 trade associations and chambers of commerce nationwide, provides solutions to reduce electricity and natural gas costs at no risk or obligation to member companies. Through this program, APPI Energy offers specialized energy cost reduction services, including the identification of reliable and competitive energy suppliers for member companies and the obtaining of competitive bids from the preferred suppliers in deregulated energy markets. Learn more.
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