Teva reported that sales of Copaxone, its multiple-sclerosis drug, rose 12% to $1.1 billion in the second quarter of 2015 despite new competition, Reuters reported. About 31% of of multiple-sclerosis prescriptions in the US are for Copaxone. Pressure to offset generic competition for Copaxone contributed to the company’s decision to acquire Allergan’s generic drugs business.
A Valeant spokesperson is expected to testify before Congress on Thursday over questions about whether it considers tax savings when it makes deals, Bloomberg Business reported. Company executives touted tax advantages during the recent attempt to acquire Allergan, which was later purchased by Actavis.
Bristol-Myers Squibb said it entered into a clinical-trial collaboration with Kyowa Hakko Kirin to test the Japanese drugmaker’s mogamulizumab, an anti-CCR4 antibody, in combination with Opdivo in patients with metastatic solid tumors in the US. Mogamulizumab and Opdivo are both part of a new class of cancer drugs called immuno-oncology treatments.
Roche submitted the Cobas EGFR Mutation Test v2 to the FDA for premarket approval. The test is a companion diagnostic to AstraZeneca’s AZD9291, an investigational treatment for non-small cell lung cancer patients with an acquired resistant mutation. An increasing number of cancer drugs being developed rely on companion diagnostics to identify which patients will respond to treatment.
Depomed, which markets pain treatments, rejected Horizon Pharma’s latest offer, according to Reuters. Horizon’s unsolicited bid is the latest proposed acquisition in the rapidly consolidating pharmaceutical sector.