The Tufts Center for the Study of Drug Development created the industry standard on R&D budgets when it pegged average R&D costs at close to $1 billion for each new drug. Today, Tufts researchers updated their figures and boosted the total to $2.9 billion.
The National Science Foundation this week awarded a second research grant to the maker of the only FDA-cleared catheter for rectal delivery of medication and liquids to expand the device's use beyond the hospice.
Dubbed Intellia Therapeutics, the new company has come up with a $15 million bankroll in a Series A provided by the venture group and the Big Pharma outfit, which is intrigued by the potential this gene editing technology could play in two of the hottest fields in oncology.
Novartis continued to build its case for secukinumab (AIN457), an IL-17A inhibitor in development for a range of inflammatory conditions.
Merck & Co.'s cholesterol drug Vytorin hit its goal in a long-awaited outcomes trial, beating solo statin therapy at cutting cardiovascular risk. It's a vindication for the company, which endured a storm of criticism about an earlier trial in which Vytorin fell short.
Pathway Genomics had a busy week. The San Diego, CA-based genetic testing laboratory began by securing an investment from IBM that will also give it access to Watson, before going on to form a cancer research collaboration with a registry created by researchers from Memorial Sloan Kettering, Mayo Clinic, Dana-Farber and other organizations.
AstraZeneca has detailed the data from two of three studies of its late-stage combination program for lesinurad, a new drug for gout obtained in their $1.26 billion buyout of Ardea, which showed that the treatment hit the desired biomarker for blood levels of uric acid as promised--but added today that it failed to actually reduce the rate of painful flare-ups of the disease for patients in the study.
Bristol-Myers Squibb has pulled the covers off of impressive Phase III data on Opdivo (nivolumab), pointing to a 73% survival rate among advanced melanoma patients after one year of therapy compared to 42% for the long-used chemo drug dacarbazine.
Pet-drug developer Kindred Biosciences announced Thursday that its net loss in the third quarter was $6.1 million, up from $1.2 million in the same period a year ago, as research and development expenses grew to $3.8 million from $1 million.
Simply wishing away pain is not as far-fetched as you probably think, research from Swiss scientists shows. Using electroencephalography they were able to harness thought-specific brain waves to convert genes into proteins, or what's known as gene expression.