Salix paying $60M up front for Progenics' constipation drug, but investor relief short-lived
This article was originally published in Scrip
Executive Summary
The news that Progenics Pharmaceuticals found a new partner for its opioid-induced constipation medicine Relistor (methylnaltrexone bromide) in fellow bowel drug maker Salix Pharmaceuticals, which licensed the exclusive worldwide rights for the product, except for Japan, in exchange for $60 million upfront and potentially $290 in milestones, had investors relieved 7 February, although the stimulation of the deal tapered off as the day wore on, with both firms' shares down at the bell.
You may also be interested in...
Moderna's Valera Takes mRNA Approach To Combat Zika
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan's Price Reform Pledge: Will Others Follow?
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.
Clinton's Drug Price Plan: Threat Or Flash In The Political Pan?
Hillary Clinton's plan to rein in high prices of older medicines, which includes creating a federal panel that has authority to impose fines, may grab headlines, but some analysts think it's unlikely to get very far in a divided Washington.