Company News

Share this article:
Novartis announced an agreement with Vanda Pharmaceuticals for exclusive US and Canandian rights for Fanapt, a schizophrenia treatment approved by FDA in May. The agreement included an upfront payment of $200 million, and potential milestones and sales royalties in the future. Vanda retained rights to the drug outside of the US and Canada, although Novartis has the option to discuss further collaboration as new opportunities arise.

Onyx Pharmaceuticals will acquire Proteolix, Inc., a privately-held biopharmaceutical company focused on discovering and developing therapies for hematological malignancies and solid tumors. Onyx will pay $276 million for the company, and other milestone payments pending regulatory approvals. Proteolix's lead compound is currently in clinical trials, including a phase 2b trial for relapsed and refractory multiple myeloma.

Share this article:
close

Next Article in Business Briefs

Email Newsletters

More in Business Briefs

Researchers hit links for charity

The PMR Charities Golf Classic teed up more than $20,000 for St. Jude Children's Research Hospital.

FDA to review Neupogen biosimilar

Novartis subsidiary Sandoz announced Thursday that the FDA has agreed to review its filgrastim biosimilar which is already approved in 40 countries.

FDA approves a new painkiller

Targiniq ER combines the prescription opioid oxycodone and naloxone, which is often used to treat overdoses.