EY vet set to re­place re­tir­ing Am­gen CFO Meline

David Meline Am­gen

Ahead of its third-quar­ter re­sults next week, Am­gen on Tues­day dis­closed the planned re­tire­ment of David Meline, who has served as the com­pa­ny’s chief fi­nan­cial of­fi­cer since 2014.

Meline will be re­placed by Ernst & Young vet, Pe­ter Grif­fith, as CFO come Jan­u­ary 1, 2020 — but un­til then Grif­fith will serve as ex­ec­u­tive vice pres­i­dent, fi­nance.

“Over the last 5 years at Am­gen, Meline in­sti­tut­ed many ma­jor changes that led to op­er­a­tional ef­fi­cien­cies and mar­gin ex­pan­sion while suc­cess­ful­ly re­turn­ing cash to share­hold­ers. Now that Am­gen is on sol­id foot­ing, it was a good time to step away,” Cowen’s Yaron Wer­ber wrote in a note. “We do not an­tic­i­pate any ma­jor changes to strat­e­gy or op­er­a­tions im­me­di­ate­ly due to this tran­si­tion as Am­gen is on sol­id foot­ing.”

Am­gen, whose ad­just­ed prof­it num­bers tend to al­ways beat Wall Street ex­pec­ta­tions, has had an event­ful year.

The po­ten­tial of its ear­ly-stage KRAS drug AMG510 in cer­tain can­cers has sparked fever­ish ex­cite­ment and in­spired block­buster ex­pec­ta­tions; Am­gen in Sep­tem­ber halt­ed en­roll­ment for a can­cer drug tout­ed as a bright prospect in its ear­ly-stage on­col­o­gy pipeline af­ter signs of “car­diac tox­i­c­i­ty” in a sim­i­lar ex­per­i­men­tal drug with the same mech­a­nism raised safe­ty con­cerns at the FDA, prompt­ing a clin­i­cal hold; Am­gen’s once-re­ject­ed os­teo­poro­sis drug Eveni­ty se­cured FDA ap­proval; in a bid to se­cure a patent ad­van­tage in the PC­SK9 mar­ket, the com­pa­ny’s leg­endary lawyer corps lost a le­gal bat­tle against ri­vals Re­gen­eron and Sanofi — al­though the le­gal team did score a big win against No­var­tis’ gener­ics arm San­doz over the patents cov­er­ing Am­gen’s block­buster TNF in­hibitor En­brel; and with ru­mors of an Alex­ion buy­out loom­ing, Am­gen took Wall Street by sur­prise by spend­ing $13.4 bil­lion to buy the pso­ri­a­sis drug Ote­zla from Cel­gene — ahead of its $74 bil­lion merg­er with Bris­tol-My­ers Squibb.

Grif­fith joins Am­gen from a pri­vate eq­ui­ty and ad­vi­so­ry firm, Sher­wood Canyon Group, where he served as pres­i­dent. Pre­vi­ous­ly, he re­tired from EY fol­low­ing a more than 20-year tenure — most re­cent­ly he served as EY’s glob­al vice chair, cor­po­rate de­vel­op­ment.

Meline joined Am­gen from 3M, where he al­so served as CFO. Pre­vi­ous­ly, Meline worked for Gen­er­al Mo­tors, in­clud­ing vice pres­i­dent and CFO for GM North Amer­i­ca.

Grow­ing ac­cep­tance of ac­cel­er­at­ed path­ways for nov­el treat­ments: but does reg­u­la­to­ry ap­proval lead to com­mer­cial suc­cess?

By Mwango Kashoki, MD, MPH, Vice President-Technical, and Richard Macaulay, Senior Director, of Parexel Regulatory & Access

In recent years, we’ve seen a significant uptake in the use of regulatory options by companies looking to accelerate the journey of life-saving drugs to market. In 2018, 73% of the novel drugs approved by the U.S. Federal Drug Administration (FDA) were designated under one or more expedited development program categories (Fast Track, Breakthrough Therapy, Priority Review, and Accelerated Approval).ᶦ

Sanofi out­lines big API plans as coro­n­avirus out­break re­port­ed­ly threat­ens short­age of 150 drugs

As the world becomes increasingly dependant on Asia for the ingredients of its medicines, Sanofi sees business to be done in Europe.

The French drugmaker said it’s creating the world’s second largest active pharmaceutical ingredients (API) manufacturer by spinning out its six current sites into a standalone company: Brindisi (Italy), Frankfurt Chemistry (Germany), Haverhill (UK), St Aubin les Elbeuf (France), Újpest (Hungary) and Vertolaye (France). They have mapped out €1 billion in expected sales by 2022 and 3,100 employees for the new operations headquartered in France.

Bio­gen touts new ev­i­dence from the gene ther­a­py com­pa­ny it wa­gered $800M on

A year ago, Biogen made a big bet on a small gene therapy company. Now they have new evidence one of their therapies could work.

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Anthony Fauci (AP Images)

UP­DAT­ED: NIH-part­nered Mod­er­na ships off its PhI-ready coro­n­avirus vac­cine can­di­date to a sea of un­cer­tain­ty

Off it goes.

Moderna has shipped the first batch of its mRNA vaccine against SARS-CoV-2 from its manufacturing facility in Norwood, Massachusetts, to the National Institute of Allergy and Infectious Diseases in Bethesda, Maryland, for a pioneering Phase I study.

It’s a hectic race against time. In the 42 days since Moderna selected the sequence they would use to develop their vaccine — a record time, no less — the number of confirmed cases around the world has surged astronomically from a few dozen to over 80,000, per WHO and Johns Hopkins estimates.

The candidate that they came up with, mRNA-1273, encodes for a prefusion stabilized form of the spike protein, which gives the virus its crown shape and plays a key role in transmission. The Coalition for Epidemic Preparedness Innovations, the Oslo-based group better known as CEPI, funded the manufacture of this batch.

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In fi­nal re­port, ICER ap­pears to have a change of heart on new acute mi­graine ther­a­pies

ICER appears to have reversed course on the fresh crop of acute migraine therapies.

The cost-effectiveness watchdog in November issued a draft report suggesting that existing generic medicines are more effective and cheaper than Allergan’s December-approved CGRP ubrogepant, Biohaven rival molecule, rimegepant (which is under FDA review), and Lilly’s October-sanctioned lasmiditan, which binds to 5-HT1F receptors.

Bi­cy­cle Ther­a­peu­tics takes Roche's Genen­tech on an up to $2B im­muno-on­col­o­gy ride

Bicycle Therapeutics — which is developing a new class of chemically synthesized drugs designed to be pharmacologically as active as biologics, yet manufactured as small molecules —  has scored another big partner: Roche’s Genentech.

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When drug val­ue as­sess­ment meets re­al-world ev­i­dence: ICER en­lists Ae­tion in pric­ing eval­u­a­tion

In a union of two of the hottest trends in the US biopharma world, ICER is teaming up with a high-profile company to integrate real-world evidence in their assessment of treatment value.

The drug pricing watchdog — formally the Institute for Clinical and Economic Review — said it will utilize Aetion’s evidence platform in “select upcoming assessments” and their new 24-month re-evaluations of drugs granted accelerated approval by the FDA.

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First US Covid-19 tri­als set to get un­der­way in Ne­bras­ka and Wash­ing­ton, backed by NIH

The first US clinical trials on the novel coronavirus are scheduled to get underway next month at the University of Nebraska Medical Center, where American passengers were taken after being evacuated from the Diamond Princess cruise ship, and at the Kaiser Permanente Washington Health Research Institute. Both trials are sponsored by the NIH’s National Institute for Allergy and Infectious Diseases, which has led the US’s medical response to the outbreak.

Mallinck­rodt, once the na­tion’s largest oxy­codone pro­duc­er, an­nounces ten­ta­tive $1.6B set­tle­ment

Three years after it first paid out fines for its role in the US opioid abuse epidemic, Mallinckrodt has announced an agreement-in-principle that will see the company pay out $1.6 billion and place its generics unit in bankruptcy.

The tentative deal would settle hundreds of lawsuits from state and local governments over Mallinckrodt’s role in the epidemic, while also helping address the company’s increasingly mountainous debt. Although Purdue Pharma has drawn the bulk of both public and legal acrimony for opioid sales, documents made public earlier this year showed that Mallinckrodt subsidiary SpecGx, along with the generic subsidiaries of Teva and Endo Pharmaceuticals, accounted for the vast majority of the 76 billion opioid pills distributed from 2006 to 2012. Mallinckrodt was at the top of that list.