Sunday, December 22

Tag: Biopharmaceuticals

AstraZeneca to Buy Gracell Biotechnologies for $1.2 Billion
27Dec By adminNo Comments
World

AstraZeneca to Buy Gracell Biotechnologies for $1.2 Billion

AstraZeneca has agreed to buy Gracell Biotechnologies for a transaction value of $1.2 billion, as part of the former’s efforts to grow its cell therapies business.The upfront cash portion of the deal is $1.0 billion, a 62.0% premium to Gracell’s last closing price for its American depository shares of $6.19, AstraZeneca said in a statement Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
AstraZeneca to Buy Gracell Biotechnologies for $1.2 Billion
26Dec By adminNo Comments
World

AstraZeneca to Buy Gracell Biotechnologies for $1.2 Billion

AstraZeneca has agreed to buy Gracell Biotechnologies for a transaction value of $1.2 billion, as part of the former’s efforts to grow its cell therapies business.The upfront cash portion of the deal is $1.0 billion, a 62.0% premium to Gracell’s last closing price for its American depository shares of $6.19, AstraZeneca said in a statement Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
$19 Billion in a Week: AbbVie Makes Two Big Bets
9Dec By adminNo Comments
Money

$19 Billion in a Week: AbbVie Makes Two Big Bets

Early last week, AbbVie was on every healthcare investment banker’s list. But with two quick deal announcements under its belt in just six days, AbbVie may have transformed its pipeline in cancer and neurology and satiated its deal-making hunger.The Chicago-area company, best known for selling Botox and immune-disease drug Humira, announced on Thursday of last week it would pay $10.1 billion for biotech ImmunoGen. On Wednesday, it followed up with the acquisition of Cerevel Therapeutics for $8.7 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
AbbVie to Buy Cancer Biotech ImmunoGen for More Than $10 Billion
30Nov By adminNo Comments
World

AbbVie to Buy Cancer Biotech ImmunoGen for More Than $10 Billion

Updated Nov. 30, 2023 10:37 am ETDrug company AbbVie has agreed to buy biotech ImmunoGen for $10.1 billion in a fresh bet on one of the most promising new technologies for attacking cancer.ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which work like guided missiles delivering a toxic agent directly to tumors. The technology is among the hottest areas in the pharmaceutical industry. Recent advancements have spread its use to common kinds of cancer such as breast, spawning other multibillion deals.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Gene Editing Will Change Medicine—and Maybe Health Investing Too
24Nov By adminNo Comments
Money

Gene Editing Will Change Medicine—and Maybe Health Investing Too

It usually takes time for scientific discoveries in the lab to make their way to the market.The groundbreaking gene-editing technology known as Crispr, which acts like a molecular pair of scissors that can be used to cut and modify a DNA sequence, has moved rather quickly from the pages of scientific journals to the medical setting. Earlier this month, about three years after Jennifer Doudna and Emmanuelle Charpentier won the Nobel Prize in Chemistry for describing how bacteria’s immune system could be used as a tool to edit genes, regulators in the U.K. approved the first Crispr-based treatment for sickle cell disease and beta-thalassemia patients. The treatment, from Vertex Pharmaceuticals and Crispr Therapeutics, could be approved by the U.S. Food and Drug Administration early next mo...
Read More
Health Care Roundup: Market Talk
17Nov By adminNo Comments
World

Health Care Roundup: Market Talk

Updated Nov. 17, 2023 12:29 pm ETThe latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0846 ET – Twist Bioscience is feeling optimistic about the year ahead after orders picked up and revenue exceeded analyst expectations in its F4Q, which ended Sept. 30. The San Francisco-based biotech company is expecting momentum behind its SynBio product group to be bolstered by Express Genes, its new gene synthesis service, and for its next-generation sequencing business to grow as customers advance their development and commercial plans, CEO Emily Leproust says. Twist is guiding for annual revenue to rise 16% to 18%, with that same growth rate for its SynBio unit. Twist expects 19% to 20% revenue growth for its next-ge...
Read More
Health Care Roundup: Market Talk
14Nov By adminNo Comments
World

Health Care Roundup: Market Talk

Updated Nov. 14, 2023 5:07 pm ETThe latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1155 ET – Canopy Growth has been blowing through far less cash after exiting its BioSteel business, but John Zamparo of CIBC says debt still weighs heavily on the cannabis company. In a report, the analyst says even by approaching positive Ebitda territory early next year, the improvement doesn’t address Canopy’s large and growing debt load. “Even if Canopy manages a 5% Ebitda margin, that still implies an annual free cash flow loss of more than $75 million because of interest charges,” he says. Instead, Zamparo thinks that only an equity issuance over the next few years can help solve the issue, “and recent examples of thi...
Read More
Wuxi Biologics Unit’s Hong Kong IPO Closes Order Book a Day Early, Sources Say
9Nov By adminNo Comments
World

Wuxi Biologics Unit’s Hong Kong IPO Closes Order Book a Day Early, Sources Say

A unit of Chinese contract drugmaker Wuxi Biologics closed its order book a day early for its initial public offering and is likely to price the deal at the top of its marketed range, people familiar with the matter said, a rare instance of hot demand in a choppy year for listings in Hong Kong.Wuxi XDC Cayman is set to raise the equivalent of about US$470 million if it prices the IPO at the top end of its marketed price range, at 20.60 Hong Kong dollars (US$2.64) a share, the people said. The Wuxi, China-based company does research, development and manufacturing with a focus on antibody-drug conjugate, a type of medicine for cancer treatment.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Health Care Roundup: Market Talk
6Nov By adminNo Comments
World

Health Care Roundup: Market Talk

The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0833 GMT – Hong Kong shares closed higher amid positive sentiment fueled by expectations the Federal Reserve is finished hiking rates, Saxo market strategist Redmond Wong said. However, investors should be wary of potential misses in corporate earnings due to still-high interest rates, Natixis senior economist Gary Ng said. The healthcare sector topped gains in the Hong Kong bourse. Sino Biopharmaceutical rose 5.7% and Wuxi Biologics (Cayman) advanced 4.5%. The property sector also gained, with Longfor Group Holdings and Country Garden Services rising 5.85% and 5.1%, respectively. The energy sector led losses, with PetroChina down 3.4% and China Shenhua E...
Read More