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Roche signs $1 billion deal with cell therapy firm SQZ biotech

The Massachusetts-based cell therapy company SQZ Biotech, has announced the expansion of its collaboration with Swiss pharma giant Roche, in a deal that could be worth up to $1 billion.

The collaboration is aimed at developing new treatments for cancer through the combination of SQZ’s cell therapy innovations and Roche’s expertise in the area of immunotherapy.

Allergan acquires neurotoxin specialist Bonti in $195m deal

The Dublin-headquartered multinational Allergan have agreed to acquire the clinical stage biotech Bonti in a deal worth more than $195 million. The deal will see Botox drugmaker Allergan acquire Bonti’s portfolio of neurotoxins.

In particular, following the completion of the acquisition Allergan will obtain the global rights to the experimental EB-001A and AB-001T programmes being developed for both therapeutic and aesthetic use.

Novartis buys eczema drug in €95m deal

Novartis has agreed to buy the rights for a novel antibody MOR106 from the Belgo-Dutch pharmaceutical research company Galapagos and the German biotech company MorphoSys.

The deal in which Novartis has agreed to pay €95 million, will transfer the exclusive global development and marketing rights for the atopic dermatitis (eczema) drug to the Swiss multinational.

Additional payments, royalties and fees may be made if the drug achieves previously agreed upon milestones.

Senate claims Novartis misled public on Trump lawyer deal

A report released by the United States Senate has found that Novartis’ relationship with Donald Trump’s long-time lawyer Michael Cohen “was longer and more detailed than previously disclosed by the company” and that Novartis “explicitly sought to hire Michael Cohen to provide the company ‘access to key policymakers’ in the Trump administration.”

Teva looking at up to $25 billion in bond sale to fund Allergan’s generic-unit buy - reports

Israeli drug firm Teva (NYSE: TEVA) is looking at a $20 billion to $25 billion bond sale in the US and Europe to support its $40.5 billion takeover of Botox maker Allergan’s (NYSE: AGN) generics business, according to reports.

Sanofi signs confidentiality agreement with Medivation for due diligence access for potential deal

Sanofi (Euronext: SAN) confirmed it has entered a confidentiality agreement with cancer drugmaker Medivation (Nasdaq: MDVN) under which it will be provided due diligence access and confidential information. 

On June 27, Sanofi asked Medivation to sign a confidentiality agreement following which it offered to increase its offer to $58.00 in cash and $3.00 in the form of a contingent value right (CVR)  relating to Talazoparib sales performance. 

Medivation subsequently rejected the Sanofi proposal. 

Novartis signs $150 million deal with Xencor to develop bispecific antibodies

Swiss drugmaker Novartis (VTX: NOVN) said it has signed a $150 million upfront collaboration and licensing agreement with Xencor to develop bispecific antibodies for treating cancer. 

This is latest in the slew of deals with biotech companies to enhance its immuno-oncology pipeline. 

Under the terms of the agreement, Xencor the two companies will equally share the cost to jointly develop two Xencor antibodies targeting the CD3 domain.  

Shire completes Baxalta takeover

UK drugmaker Shire (LSE: SHP) on Friday announced the completion of merger with rare disease specialist Baxalta (NYSE: BXLT). 

The company said it sees the joint firm to deliver double-digit compound annual top-line growth, with over $20 billion in annual projected revenue by 2020 and about 65% of total annual revenues being immediately generated by its rare disease products. 

Following the deal Shire now has more than 50 programs in clinical development, the company said in a statement. 

Monsanto rejects Bayer’s $62 billion offer

World’s largest seed maker Monsanto (NYSE: MON) has rejected the $62 billion takeover offer from Germany’s Bayer AG (ETR: BAYN) saying the deal was incomplete and financially inadequate, but added it was open to further talks.

Monsanto shares ended up over 3% Tuesday on the New York Stock Exchange.

Germany’s Merck Q1 profits double boosted by Sigma-Aldrich deal

Germany’s Merck on Thursday said first-quarter net profit more than doubled helped by the integration of US laboratory equipment maker Sigma-Aldrich.

The company reported net profit for the quarter ended March 31 of €591 million ($674.48 million), compared with €282 million a year ago.

Merck posted earnings per share of €1.36, against €0.65 a year earlier.

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