Pfizer has entered into an agreement to acquire
BioRexis Pharmaceutical Corp., a privately held biopharmaceutical company with several diabetes candidates and a novel technology platform for developing new protein drug candidates. Financial terms of the agreement were not disclosed.
"Through this acquisition, we are investing in a company with an exciting new technology and potential new product candidates in diabetes," said Edmund P. Harrigan, M.D., senior vice president, worldwide licensing and new business development for Pfizer. "This is an example of how we are pursuing compelling science outside our walls in order to deliver new healthcare solutions to customers and patients."
BioRexis is developing long-acting GLP-1 receptor agonists for the potential treatment of type 2 diabetes and early studies support their potential to advance new treatment options for this disease. Also, BioRexis' proprietary protein engineering technologies based upon human transferrin, provide novel therapeutic agents with substantially longer duration of action than synthetic peptides. These technologies also have the potential to substantially improve patient tolerability and compliance.
The acquisition is expected to close during the first or second quarter of this year.
Hospira, Inc. has completed the acquisition of
Mayne Pharma Ltd. in a transaction valued at $2.1 billion. Mayne Pharma, an Australia-based specialty injectable pharmaceuticals company, significantly expands Hospira's global operations and doubles its international sales. The acquisition is expected to expand Hospira's oncology presence, provide potent/cytotoxic manufacturing and R&D capabilities, and help reduce the overall costs of healthcare by increasing the number of specialty generic injectable drugs in its portfolio and associated manufacturing efficiencies.
"We are excited and confident about the growth opportunities this acquisition presents for all of our stakeholders," said Christopher B. Begley, chief executive officer, Hospira. "As the world leader in specialty generic injectable pharmaceuticals, Hospira's increased scale will continue to help reduce the overall costs of healthcare—to improve both the affordability of care for patients and the financial strength of the global healthcare system."
As part of this global transformation, the company is implementing a new leadership structure in an effort to enhance its global perspective, reinforce its connection to customers and establish a solid foundation for future growth. The company has appointed three regional presidents responsible for developing strategy, strengthening customer relationships, delivering growth and attaining market leadership in their various regions; and two presidents focused on the long-term growth, global business strategy and attainment of product leadership in key business areas. Also, the newly created role of corporate vice president, global strategy and business development, is responsible for ensuring the strength and execution of global growth strategies in both core and new businesses.
Chris Kolber, president, global devices, has more than 25 years of experience in the pharmaceutical and medical device industry in various commercial, general management and business development roles. He most recently served as corporate vice president, business development, for Hospira.
Thomas Moore, president, global pharmaceuticals, has 23 years of experience in the pharmaceutical industry and has held several management positions in operations, marketing and business development. He previously served as vice president and general manager, specialty injectable pharmaceuticals, for Hospira.
Alejandro Infante, president, the Americas, has more than 22 years of experience in the pharmaceutical industry and has held several commercial management positions in Mexico and around the world. He previously served as vice president and general manager, international commercial operations, for Hospira.
Michael Kotsanis, president, Europe, Middle East and Africa, has 20 years of experience in the pharmaceutical industry and has held several commercial operations roles in addition to responsibility for manufacturing, quality and associated functions. He most recently served as president, Asia-Pacific, for Mayne Pharma.
Tim Oldham, Ph.D., president, Asia-Pacific, has a combined 18 years in academia and experience in the pharmaceutical industry, holding strategy, business development and marketing positions. He most recently served as vice president, strategic partnerships and acting head, Europe, Middle East and Africa, for Mayne Pharma.
Ron Squarer, corporate vice president, global strategy and business development, has 15 years of experience in the biopharmaceutical industry in business development, strategy and brand management. He previously served as senior vice president, global corporate and business development, for Mayne Pharma.
The presidents of global devices, global pharmaceuticals and the three regions will report to
Terry Kearney, chief operating officer. The corporate vice president, global strategy and business development, will report to Mr. Begley.
Anacor Pharmaceuticals has entered into an exclusive worldwide agreement with
Schering-Plough for the development and commercialization of AN2690, a topical anti-fungal therapy currently in Phase II trials for onychomycosis, a fungal infection of the nail and nail bed that affects 7 to 10% of the U.S. population.
Anacor will receive a $40 million upfront payment and a $10 million financing commitment from SP. The company may receive more than $575 million for development, regulatory and commercial milestones and will receive royalty payments on future sales. SP will be responsible for development costs and Anacor retains an option to co-promote the drug in the U.S. The transaction, subject to expiration or early termination of the waiting period under the Hart, Scott, Rodino Antitrust Improvements Act (HSR), is expected to close in the first quarter of this year.
"The deal enables the development and commercialization of AN2690 to its fullest potential and provides the resources necessary to advance other promising, proprietary drug candidates in our pipeline. In addition, the co-promote option gives Anacor the opportunity to build a fully integrated pharmaceutical company in the future," said David Perry, chief executive officer of Anacor. "Schering-Plough's worldwide reach, ability to effectively market to general practitioners, and experience with topical and dermatologic treatments makes them an ideal partner for Anacor and AN2690."
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