Reva Medical has raised $25 million in debt from Goldman Sachs and Senrigan Capital. The financing had been months in the making and is expected to enable the development-stage company to get its latest bioresorbable stent on the market in Europe.
The clock is about to strike 6 months since Stryker expressed interest in acquiring Smith & Nephew, only to be dissuaded by a rise in that company's stock price once news of the potential deal broke out. And so begins the speculation that Stryker will actually make a bid on the fellow orthopedics company this time around.
Novartis is well on its way to leading a new class of anti-inflammatory treatments, convincing European regulators to recommend approving its injected therapy for psoriasis and putting the company in line for transatlantic launches next year.
AbbVie is one step closer to challenging Gilead Sciences' dominance in the hepatitis C market, securing a likely European approval for its rival combo treatment as it awaits a U.S. nod.
In this week's EuroBiotech Report, the U.K. government kicked off a review it hopes will deliver a faster, cheaper way of developing drugs. Onxeo unveiled plans to raise €41.6 million ($52.2 million). And more.
The U.K. is striving to brand itself as a hotbed for biotech R&D, promising new funds for startups, pledging to speed up its approval process and courting some major players to deepen their roots in the country.
Last week, Smith & Nephew announced it was laying off 108 employees due to the closure of its St. Petersburg, FL, operations, saying the advanced wound care business would be better off if it operated in a single location in Fort Worth, Texas. This week it sold its Gilberdyke, England, factory, saying it would manufacture polyurethane films for its wound dressings from the nearby Kingston upon Hull facility instead.
Organized crime has moved into selling counterfeit and compromised prescription drugs in Europe, exploiting the mishmash of customs laws and weak points in some border protection. Those weaknesses allowed the "Mafia" to get fake manifests, use suspect wholesalers, and sell counterfeits of Roche's Herceptin and other cancer drugs across Europe.
The European Commission was scheduled to rule on Zimmer's planned acquisition of fellow orthopedics company Biomet by March 11. Now the deadline has been extended by a "limited number of days," Zimmer says.
The European Medicines Agency didn't follow procedure when it appointed Executive Director Guido Rasi, a court has ruled, forcing the continent's top drug regulator to step down and sending the organization scrambling for answers.