Amgen’s Phosphate Binder Loss May Be Genzyme’s Gain
This article was originally published in The Pink Sheet Daily
Once expected to plunder Renagel market share, AMG 223 suddenly gets left on the shelf.
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The French pharma paid an undisclosed amount for rights to a preclinical phosphate transport program, one of several non-absorbable drugs that act locally within the gut. The deal comes as market-leading Renagel and Renvela face imminent generic competition.
After a bit of a lull since September, there are seven biotechnology IPOs slated to get out in the next few weeks. But they are entering a tougher market than earlier in 2013, and some may not be quite the same quality.
Relypsa, spun out from Amgen in 2007, has raised a third round of financing in an effort to move its lead compound into late-stage development.