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Merck & Co. Resolves Vioxx Lawsuit; Takeda Agrees to Acquire Envoy Therapeutics; and More.
Baxter International has announced an exclusive 20-year partnership with Hemobrás, a Brazilian biotechnology company, to provide hemophilia patients in Brazil greater access to recombinant Factor VIII (rFVIII) therapy for treating hemophilia A. Under the agreement, Baxter will be the exclusive provider of Brazil’s rFVIII treatment over the next 10 years while the companies collaborate on the technology transfer to support development of local manufacturing capacity by Hemobrás. Baxter will receive cash payments for product it supplies to Hemobrás and, following completion of the technology transfer and royalties on rFVIII produced by Hemobrás. Baxter expects peak annual sales to exceed $200 million. Read More
Merck & Co. settled an agreement with plaintiffs to resolve Plubell v. Merck, an economic class-action lawsuit pending in Missouri state court. The class consists of Missouri consumers who purchased Vioxx (rofecoxib), but do not claim any physical injury, and who seek to recover damages under the Missouri Merchandising Practices Act. Under the agreement, Merck will pay to resolve all validated claims submitted by class members, approved attorneys’ fees and expenses, and settlement notice costs and administrative expenses. The company recorded a charge for this settlement in the third quarter of 2012. The agreement is subject to court approval and certain conditions related to participation. Read More
Takeda Pharmaceutical has agreed to acquire Envoy Therapeutics. Under the agreement, Takeda America Holdings will acquire 100% of the equity in Envoy for total consideration of up to $140 million, which includes an up-front payment and progress-dependent, preclinical milestone payments. Read More
A roundup of additional company and people news from pharmaceutical and biopharmaceutical companies, their suppliers, and contract-service providers. Read More