The week in pharma: action, reaction and insight – week to April 22, 2022
By Barbara Obstoj-Cardwell. Editor
Deal making featured in last week’s news, but it was unravelling rather than making. First was Bristol Myers Squibb and partner Nektar deciding to discontinue the development of blockbuster drug Opdivo in combination with bempegaldesleukin (bempeg), under a deal that involved an upfront of $1.85 to Nektar. Sweden’s BioArctic suffered a setback last Wednesday, when it revealed that AbbVie was walking away from a collaboration on ABBV-0895, a candidate for the treatment of Parkinson’s disease. On the M&A front, Regeneron last Tuesday announced a $250 million acquisition of Checkmate Pharma along with its melanoma drug candidate vidutolimod. Elsewhere, Japan’s Astellas revealed last Friday that it was booking an impairment was after a number of setbacks in gene therapy.
Bempeg is shuttered and Nektar becomes an autoimmune company
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