Amgen To Plead Guilty, Arrowhead Partners with Shire: Healthcare Business Recap
It is anticipated that the biotech major Amgen (NASDAQ:AMGN) will plead guilty on Tuesday in Brooklyn to illegally marketing its drugs, according to inside sources, and also an advisory to the media issued by the United States attorney’s office for the Eastern District of New York. However, one knowledgeable source said that the firm would plead guilty to misbranding, which is a charge that typically refers to promoting drugs for uses that have not been okayed by the FDA.
On Tuesday, the targeted therapeutics firm Arrowhead Research Corporation (NASDAQ:ARWR) said that it has reached a research collaboration and license agreement with Shire (SHPG) for the development and commercialization of targeted peptide-drug conjugates by employing Arrowhead’s human-derived Homing Peptide platform and Shire’s therapeutic payloads. For its part, Arrowhead will receive research funding and possible eligibility for development, regulatory, and commercialization milestone payments of as much as $32.8 million for each development candidate along with additional milestone payments for a second indication and royalties on global sales.
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Orexigen Therapeutics (NASDAQ:OREX) has provided a clinical trial update of the Light Study and results of recent market research during its Analyst Day meeting in New York City. The biopharmaceutical firm said that the screening of new patients for the Light Study, the cardiovascular outcomes trial evaluating Contrave (Naltrexone SR/Bupropion SR), is now complete and that around 9,000 patients will be randomized in the study during the next few weeks.
BioTime (AMEX:BTX) and its subsidiaries OrthoCyte Corporation and LifeMap Sciences announced Tuesday a method of manufacturing seven distinct types of cartilage, bone, and tendon cells from human embryonic stem cells. The paper has been published online ahead of print in the peer-reviewed journal Regenerative Medicine and characterizes the seven cell types generated by employing BioTimes proprietary PureStem tech. The evaluation compared the novel cells with adult stem cells, which are known as mesenchymal stem cells, and uncovered properties of the new cell lines that are suggestive of a wide range of future applications in the practice of orthopedic medicine. BioTime is a biotech firm that develops and markets products in the field of regenerative medicine.
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