Lilly, Takeda terminate contract
JAPAN Eli Lilly Japan and Takeda Pharmaceuticals have terminated an agreement to co-develop and co-market ruboxistaurin mesylate.
Ruboxistaurin mesylate is used to treat diabetic macular edema and diabetic peripheral neuropathy. The companies said that after looking at the overall results, the trials did not meet the criteria for Phase III studies and therefore they have agreed to terminate the contract.
Scientists show correlation between statins and Alzheimer’s treatments
HASBRUCK HEIGHTS, N.J. Scientists have found proof showing an association between statin use and neuropathologic changes in the brain linked to Alzheimer’s disease.
The study was recently published in a brain disease report conducted by researchers at the University of Washington, the Veterans Affairs Puget Sound Health Care System and the Group Health Cooperative of Puget Sound.
Nymox Pharmaceuticals holds the worldwide patent for the use of statin drugs for the prevention and treatment of Alzheimer’s. The global market for statins exceeds over $25 billion. Alzheimer’s currently affects more than 4.5 million people in the United States, according to government estimates.
PDL to sell rights to drugs, cut related jobs
FREMONT, Calif. PDL BioPharma will sell the rights to four of its drugs and cut at least 250 jobs as the company moves it focus away from cardiovascular drugs to oncology and select immunological diseases.
The four drugs to be sold are Cardene, Ularitide, Retavase and IV Busulfex. The drugs produced $187.2 in revenue in the year ending June 30. The 250 jobs would be eliminated as a result of selling the drugs, but more job cuts could be expected as the company shifts its focus to diseases like multiple sclerosis.
The company has been under fire recently by its shareholders for keeping Mark McDade as chief executive officer even though he moved the company to a more expensive location and for being in charge while the company missed earnings and sales projections.