Look back at pharma news in the week to May 10

Last week’s news included two interesting, albeit small, acquisitions: Danish CNS specialist Lundbeck announcing it was to purchase Abide Therapeutics; and pharma giant Pfizer intentention to buy Swiss biotech Therachon. Pfizer also featured in regulatory news, gaining US Food and Drug Administration approval of its heart disease drug tafamidis. On the research front, Cytokinetics and partner Astellas announced disappointing mid-stage trial results with their amyotrophic lateral sclerosis (ALS) drug reldesemtiv. Takeda featured in deal-making news, divesting its ophthalmic treatment Xiidra to Novartis for an eye-watering up to $5.3 billion, and the much small deal with Ethicon for TachoSil.

Lundbeck leaps into the Tourette’s pipeline

Lundbeck has made no secret of its desire for acquisitions, and last week it delivered a takeout of Abide Therapeutics for an initial $250 million, noted Amy Brown on Vantage, the editorial arm of the Evaluate group. The California biotech has developed a specialism in serine hydrolase biology, and generated a lead project in Tourette’s syndrome, a neurological disorder that sits squarely in Lundbeck’s CNS-focused wheelhouse.