Life sciences briefing: Thursday, Nov. 1, 2007
Featured companies: Asteres, HemaQuest Pharmaceuticals, Nanosphere, Novalar Pharmaceuticals, Tranzyme Pharma
(UPDATED: Expanded items for Nanosphere, HemaQuest and Transzyme. Moved Novalar to a separate item here.)
Diagnostic maker Nanosphere prices IPO at low end of range, raises up to $113M — Nanosphere, a Northbrook, Ill., biotech focused on nanotech-derived diagnostics, priced its IPO at $14 a share, at the low end of its estimated range. The company, which could sell as many as eight million shares, stands to raise up… Continue Reading
Amgen grabs the axe, chops up to 2,600 jobs
(UPDATED: See below.)
The biotech colossus Amgen, stung by safety and regulatory issues that hit hard at sales of its core anemia drugs, announced today that it will cut its headcount between 12 percent and 14 percent, ratchet back on new plant construction, close production operations and prioritize its research spending. The giant biotech said these measures will yield savings of up to $1.3 billion by next year.
The restructuring is the first in Amgen’s history, and virtually… Continue Reading
Roundup: Anemia drugs under assault, stem-cell trial moves forward, medical interventions and poor “quality of death,” and more
Is the bell tolling for EPO? – The news keeps going from bad to worse for the wonder drugs of biotech — the anemia treatments known as ESAs or EPO, shorthand for “erythropoiesis stimulating agents” and “erythropoietin,” respectively. Earlier today, an FDA advisory panel recommended new warnings for the drugs, which stimulate the production of oxygen-carrying red blood cells, as well as fresh clinical studies on their safety. Recent studies in kidney-dialysis patients linked higher doses… Continue Reading