Olink Holding AB likely has some euphoric investors following Thermo Fisher Scientific Inc.’s announcement of an agreement to acquire the proteomics company for $26 per share in cash. The price represents a premium of nearly 75% on its recent trading average and brings the deal’s value to a stunning $3.1 billion, with net cash of $143 million.
The vagaries of the COVID-19 market and the uncertainties of pandemic fatigue are hitting some biopharma companies in the pocketbook, at least for now. Due to lower-than-expected revenues from its COVID-19 Comirnaty vaccine and antiviral Paxlovid (nirmatrelvir/ritonavir), Pfizer Inc. reduced its 2023 revenue guidance by $9 billion after hours Oct. 13, saying it now anticipates full-year 2023 revenues to range from $58 billion to $61 billion – down from its previous guidance range of $67 billion to $70 billion.
Scientists at Washington University in St. Louis reported filing patent protection for their breath test that quickly identifies those infected with SARS-CoV-2, requires only one or two breaths to be performed, and provides results in less than a minute.
With shares dropping again, this time more than 15% on Oct. 13, Cassava Sciences Inc. has found itself entangled in a mess involving short-sellers, data that were allegedly mishandled involving its oral Alzheimer’s disease (AD) candidate simufilam, and a leaked investigation report from the City University of New York (CUNY).
Why U.S. FDA-approved Wakix (pitolisant) has worked to treat excessive daytime sleepiness (EDS) in narcolepsy but not in idiopathic hypersomnia (IH) patients is the question that lies before Harmony Biosciences Holdings Inc., and one that the U.S. FDA will take up at a future sit-down.
Pfizer Inc. may have a blockbuster on its hands with the U.S. FDA’s approval of Velsipity (etrasimod), a selective sphingosine-1-phosphate (S1P) receptor modulator for adults with moderately to severely active ulcerative colitis (UC).
Derek Sham, founder and CEO, of Toronto, Ontario-based Cosm Medical Corp. reported filing for patent protection for devices, systems and methods for vaginal therapeutics. He reported on a range of surgical treatment options for pelvic organ prolapse (POP) and urinary incontinence (UI) as well as non-surgical treatments exist for POP and UI.
No one is looking in the rearview mirror at Medtronic plc as a fresh U.S. FDA approval for the next generation version of its intrathecal drug delivery system allows the company to leave behind a spate of problems associated with its Sychromed II device. The device delivers medication directly to the fluid surrounding the spinal cord via a small catheter positioned to deposit the drug at the site of most severe pain. The targeted delivery improves management of chronic and cancer-related pain as well as management of severe spasticity without use of systemic opioids.
Getinge AB has acquired Healthmark Industries Co. Inc. for $320 million on a cash and debt basis in a bid to bolster its presence in sterile reprocessing in the U.S. The deal was financed using cash on hand and existing credit facilities. Getinge expects to fully integrate Healthmark’s operations by the end of 2024 and is not expected to see any material integration costs in 2023 and 2024.
The FDA town hall on the final day of the 2023 edition of the Med Tech Conference included the usual patter about the achievements at the agency’s Center for Devices and Radiological Health (CDRH), but a few useful nuggets of information nonetheless slipped through in this year’s session. CDRH director Jeff Shuren acknowledged that the agency is steering device advisory committee hearings away from votes on whether to approve a product, an approach he said is under consideration at the agency’s other product centers as well.
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