Weekly News Round-up – 15/5/20
3 years ago
By Josh Neil
In the news this week, remdesivir is authorised for emergency use in COVID-19. The drug has still not been proven to increase survival rates, but it will be vital to reduce patient recovery times. In other news, Takeda announces surprise profits after its Shire merger, and the Abbvie-Allergan buyout is now finally complete after all necessary regulators have given their approval.
U.S. AUTHORISES EMERGENCY USE OF REMDESIVIR – The FDA has authorised emergency use of Gilead’s remdesivir for treating COVID-19. This comes after the drug was recently shown to shorten recovery time for seriously ill patients. It did not, however, show improvements in survival rates. This is not the same as formal approval, which the drug has not yet received. As Gilead is currently using existing up quantities of the drug with reduced manufacture of more, supply is limited.
TAKEDA ANNOUNCES SURPRISE PROFIT ONE YEAR AFTER SHIRE MERGER – Following its $59 billion merger with Shire in 2019 which required loans worth around $32 billion, Takeda has posted unexpected profits of around $92 million in the year to March 2020. Last month, in a bid to reshape the company, it announced the sale of a portfolio of OTC and prescription products for around $670 million.
ABBVIE COMPLETES ALLERGAN MERGER – Abbvie has completed its $63 billion buyout of Allergan after all necessary government authorities gave approval of the agreement. The acquisition will expand and diversify Abbvie’s revenue base. It will also grant the company new chances for growth in neuroscience and aesthetics, with products including Botox now acquired.
In other news:
R&D
More than 50 repurposing drug candidates identified for COVID-19
Clinical Trials
Pfizer begins human testing in U.S. for BNT162 coronavirus vaccine
Genfit NASH trials fail in phase 3
Black and female patients failed in clinical trials, study finds
Manufacturing
UK buys £20m-worth of HIV and malaria drugs
Gilead partners with five generic drugmakers on remdesivir expansion
That’s all for now. See you next week!
Joshua Neil, Editor
Proventa International
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