Big drugmakers Amgen (AMGN) and Allergan (AGN) announced Wednesday that their biosimilar version of Roche’s (RHHBY) blockbuster cancer drug Avastin succeeded in a late-stage trial against non-small-cell lung cancer. Amgen and Allergan, which started their collaboration back in 2011 when Allergan was a generic drug maker called Watson Pharmaceuticals, released few details but said the drug ABP 215 had shown clinical equivalence to Avastin as
The bull case for Amgen’s (AMGN) new cholesterol drug Repatha continued to be built Tuesday, as Nomura raised long-term estimates on the drug’s sales while UBS defended its optimistic thesis for both Repatha and rival drug Praluent, from Sanofi (SNY) and Regeneron (REGN). After surveying 30 cardiologists who were enthusiastic about the new anti-PCSK9 drug class, Nomura analyst Ian Somaiya hiked his 2018 estimate on Repatha to $2.1 billion from
Big biotech Amgen (AMGN) agreed to pay up to $1.55 billion for a Dutch biotech developing a new cholesterol drug, the company said Wednesday. Amgen will pay $300 million upfront for privately held Dezima, which has a midstage drug candidate called TA-8995 for lowering LDL cholesterol. If the drug succeeds, Amgen is on the hook for up to $1.25 billion in milestone payments. It will also pay an unspecified royalty to Mitsubishi Tanabe Pharma, from