Financings Of The Fortnight: Overseas Cash Holdings Don’t Mean U.S. Biopharma Lacks For Domestic Financial Opportunity
This article was originally published in The Pink Sheet Daily
Plus news on recent financing activity by Savara Pharmaceuticals, OvaScience, TetraPhase Pharmaceuticals and Pharmacyclics.
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A Moody’s report lists seven pharmas among the 50 non-financial companies sitting on the largest piles of cash. These very big war chests hold the preferred currency, particularly for ex-U.S.pharma deal-making.
Label expansion efforts for Vertex’s cystic fibrosis therapy will be claims taken through FDA’s new review pathway; the initial product could reach more patients more quickly and serve as a guide to how the agency will handle drugs earmarked for streamlined development and approval.
Bristol has finalized its strategy to focus on biopharmaceuticals by swapping its 83% stake in Mead Johnson Nutritionals for BMS shares. The move will not raise cash but the buyback structure of the deal will improve BMS's cash flow and increase earnings per share ahead of its impending Plavix/Avapro patent cliff.