CORAL SPRINGS, FL, Sept. 8, 2016 /CNW/ - The biotech sector continues to remain active through new license agreements, product announcements & FDA Approvals, as well as the research and development of ground-breaking cancer drug treatments. Leading biotech companies achieving new milestones or making headlines in the markets to watch are Q BioMed Inc. (OTCQB: QBIO), Mylan N.V. (NASDAQ: MYL), Allergan plc (NYSE: AGN), Merck & Co., Inc (NYSE: MRK) and Bristol-Myers Squibb Company (NYSE: BMY).
Q BioMed Inc. (OTC: QBIO), a biotechnology acceleration company is pleased to announce the closing of an exclusive license and option agreement for a FDA approved generic drug, Strontium Chloride ("SR89"). This licensed radiopharmaceutical agent is indicated for the treatment of pain associated with metastatic bone cancer. SR89 provides long lasting relief for patients suffering from bone pain due to metastatic cancer, typically caused by advanced-stage breast, prostate or lung cancer. The drug is preferentially absorbed in bone metastases, it has been proven to provide a long-term effect resulting in non--narcotic cancer pain relief and enhanced quality of life. Cancer palliation drug expected to start generating revenue in less than 12 months
Read the full QBIO Press Release at: http://financialnewsmedia.com/profiles/qbio.html
Q BioMed immediate efforts and resources will focus on the material procurement and manufacturing process as well as preparing the marketing plan and distribution strategy. This drug is expected to be revenue ready within a short time frame and we aim to generate sales within the first year. We will make every effort to make this drug as widely available as possible and ensure that the drug will be priced competitively at a cost to patients that is lower than what they are currently paying. In the current environment of skyrocketing drug and medical costs, we believe this is a welcome deviation from the recent headlines.
There are approximately 300,000 new cases of bone metastases in patients with breast and lung cancer per year in the U.S. alone. Approximately 80% of patients using SR89 have reported experiencing a substantial decrease in pain, an increase in physical activity and a reduction in the need for opiate analgesics, such as morphine.
A U.S. Senate subcommittee has opened a "preliminary inquiry" into Mylan Pharmaceuticals' - Mylan N.V.(NASDAQ: MYL) price increases on its allergic reaction treatment EpiPen, Sens. The company's sixfold price increases on the EpiPen over the last several years sparked public outrage and condemnation by various lawmakers last month. Read the full article at http://finance.yahoo.com/m/6779e9e6-126d-32c1-b98f-768027f1509f/ss_senate-subcommittee-opens.html
Allergan plc (NYSE: AGN), a leading global pharmaceutical company, and RetroSense Therapeutics LLC, a private, clinical-stage biotechnology company focused on novel gene therapy approaches to restore vision in patients suffering from blindness, recently announced that Allergan has acquired substantially all of the assets of RetroSense in an all-cash transaction. Under the terms of the transaction, Allergan has paid RetroSense a $60 million upfront payment, and has agreed to potential regulatory and commercialization milestone payments related to its lead development program, RST-001, a novel gene therapy for the potential treatment of Retinitis Pigmentosa (RP).
Merck & Co., Inc (NYSE: MRK), known as MSD outside the United States and Canada, announced that the U.S. Food and Drug Administration (FDA) has accepted for Priority Review the supplemental Biologics License Application (sBLA) for KEYTRUDA® (pembrolizumab), the company's anti-PD-1 therapy, for the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC) whose tumors express PD-L1, with a PDUFA, or target action, date of Dec. 24, 2016. Additionally, the FDA granted Breakthrough Therapy Designation for this indication. Merck has also submitted a Marketing Authorization Application to the European Medicines Agency for this indication.
Bristol-Myers Squibb Company (NYSE: BMY) this week announced that the European Commission has approved ORENCIA® (abatacept) intravenous (IV) infusion and subcutaneous (SC) injection, in combination with methotrexate (MTX), for the treatment of highly active and progressive disease in adult patients with rheumatoid arthritis (RA) not previously treated with MTX. With this approval, ORENCIA is the first biologic therapy with an indication in the European Union (EU) specifically applicable to the treatment of MTX-naive RA patients with highly active and progressive disease. Studies of ORENCIA involving adult patients with high disease activity (mean DAS28-CRP of 5.4) accompanied by poor prognostic factors for rapidly progressive disease (positive for anti-CCP antibodies (also known as ACPA), and/or RF+, presence of baseline joint erosions) provided the clinical trial evidence supporting the recommendation. This approval allows for the expanded marketing of ORENCIA in all 28 Member States of the EU.
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