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News Breaks
June 19, 2014
16:16 EDTSNY, MACKMerrimack to regain worldwide rights to commercialize MM-121
Merrimack Pharmaceuticals (MACK) announced that it has reached an agreement with Sanofi (SNY) to regain worldwide rights to develop and commercialize MM-121, a monoclonal antibody designed to block ErbB3, or HER3, activation in patients with heregulin-positive tumors and improve response to standard of care treatments. In partnership with Sanofi, Merrimack completed an extensive Phase 2 program for MM-121 which was designed to assess the role of ErbB3 in a number of cancer indications in both the metastatic and neoadjuvant settings. In advanced settings of ovarian cancer, ER/PR+ HER2 negative breast cancer and non-small cell lung cancer, Merrimack was able to identify that heregulin, the principal ligand that binds to and activates the ErbB3 receptor, is associated with poor response to standard of care therapy and that adding MM-121 may restore sensitivity in these most at-risk patients. Consistent across three metastatic cancer indications with three different standard of care therapies, patients in these trials with heregulin-positive tumors experienced a statistically significant reduction in their risk of progression when they received a combination with MM-121. Heregulin-driven drug resistance pathways were found to be active in approximately 30%-50% of patients tested.
News For MACK;SNY From The Last 14 Days
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August 28, 2015
08:01 EDTSNYAmgen pricing for Repatha competitive with Praluent, says Piper Jaffray
After the FDA announced last night that it has approved Amgen's (AMGN) Repatha injection, Piper Jaffray analyst Joshua Schimmer said that the drug's indications seem "generally in line" with those for Praluent from Regeneron (REGN) and Sanofi (SNY). Amgen disclosed an annual WAC of $14,100 for Repatha, which the analyst notes is about $500 per year below Praluent, but Schimmer said that the actual recognized price for each will ultimately be determined by discounting. Schimmer also noted that Amgen said it is working with payers and other purchasers on "innovative pricing programs," though he is uncertain if that means the company is working on a kind of "pay per performance" scheme. The analyst, who believes the market will prove large enough for both treatments, keeps a $200 price target and Overweight rating on Amgen shares.
August 27, 2015
19:14 EDTSNYExpress Scripts to cover both Repatha, Praluent for now, Bloomberg says
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August 20, 2015
11:33 EDTSNYLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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