Fo­s­un Phar­ma con­sid­ers $3.8B sale of In­di­an drug­mak­er Gland Phar­ma — re­port

The Fo­s­un Phar­ma­ceu­ti­cal Group may be con­sid­er­ing the sale of a com­pa­ny it took a stake in just a few years ago.

Ac­cord­ing to a re­port from Bloomberg News on Tues­day, Fo­s­un is con­sid­er­ing the sale of the In­di­an-based in­jectable CD­MO Gland Phar­ma Ltd. af­ter it had re­port­ed­ly re­ceived in­ter­est from po­ten­tial buy­ers.

Bloomberg said in its re­port that Fo­s­un has been work­ing with an ad­vis­er as it in­for­mal­ly “gauges in­ter­est” in its con­trol­ling stake in Gland. Oth­er com­pa­nies and buy­out firms are in the be­gin­ning stages of look­ing at Gland, but no de­tails have emerged on any po­ten­tial buy­ers, the re­port says. The pub­li­ca­tion lists the mar­ket val­ue of Gland at around $3.8 bil­lion.

Fo­s­un bought its con­trol­ling stake in Gland in 2017, buy­ing a 74% stake in the com­pa­ny for $1.1 bil­lion. The Chi­nese phar­ma had orig­i­nal­ly want­ed an 86% stake but was cut back af­ter the In­di­an gov­ern­ment want­ed to ve­to the orig­i­nal plan.

The news has perked up the ears of in­vestors as Fo­s­un and Gland have seen a rise in their stock prices to­day by 3% and 7% re­spec­tive­ly.

How­ev­er, de­spite the re­port­ed in­ter­est in Gland, it is com­ing as a bit of a sur­prise to the man­u­fac­tur­er.

In a let­ter to the Bom­bay Stock Ex­change on Tues­day, Gland clar­i­fied that it is “not aware of any such in­for­ma­tion” that Fo­s­un is con­sid­er­ing the sale of shares of Gland.

“The Com­pa­ny is not in re­ceipt of any com­mu­ni­ca­tion in this re­gard from its Pro­mot­er(s) and is un­able to com­ment on the same,” Gland’s let­ter said.

End­points News has reached out to both Fo­s­un and Gland for fur­ther in­for­ma­tion but has not re­ceived any by press time.

Mean­while, Gland is mak­ing moves of its own. Ac­cord­ing to Reuters, Gland will buy the French in­jectable drug man­u­fac­tur­er Cenexi for the price of €120 mil­lion ($123.9 mil­lion).

Fo­s­un is no stranger to the ac­qui­si­tion game, as last year it bought a ma­jor­i­ty stake in Cheng­du An­te­jin Biotech, which is de­vel­op­ing a shot against 13 strains of pneu­mo­nia-caus­ing bac­te­ria, mak­ing it a sub­sidiary. The deal saw Fo­s­un pay­ing share­hold­ers $173.9 mil­lion in cash to grab 32.5% of the com­pa­ny with Fo­s­un merg­ing its vac­cine busi­ness, Dalian Aleph Bio­med­ical, in­to the com­pa­ny.

Image courtesy of The Janssen Pharmaceutical Companies of Johnson & Johnson.

Pro­tect­ing the glob­al phar­ma­ceu­ti­cal in­no­va­tion ecosys­tem – what’s at stake?

We are living in a new era of healthcare that is rapidly advancing progress impacting patient outcomes and experiences. We’ve seen a remarkable pace of transformational innovation, applied research, and advanced clinical development over the last decade.

Despite this tremendous progress, there is much more work to be done, and patients are counting on us – now more than ever – to continue that momentum. At the heart of our industry is a focus on developing and delivering medicines for some of the world’s most challenging diseases, including those that have few or no effective treatments today.

Roger Perl­mut­ter lines up deals, fresh fund­ing at Eikon; Sec­ond RSV vac­cine ap­proved; Sev­er­al biotechs flash­ing red; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

As you come back to our website this weekend for ASCO news, don’t forget to check out our updated event lineup at BIO, which will cover everything from the current state of VC investing in biotech to top pharma R&D chiefs discussing how to make pipeline decisions.

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Peter van de Sande, Synaffix CEO

Lon­za shells out $107M cash to snap up Synaf­fix and its ADC plat­form

After lining up a string of partnerships over the years, Dutch antibody-drug conjugate specialist Synaffix has found a new home: Lonza, the contract development and manufacturing giant.

Lonza is paying about $107 million (€100 million) in cash to acquire Synaffix, with up to $64 million (€60 million) in “additional performance-based consideration” on the table. Synaffix’s ADC tech platform will now become part of Lonza’s offering for biopharma clients, lending its bioconjugate technologies to not just ADCs but also targeted gene therapy, immune cell engagers and other applications.

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Full TIG­IT da­ta from Gilead, Ar­cus show low­er PFS rates than De­cem­ber read­out: #AS­CO23

CHICAGO — Gilead and Arcus unveiled a fuller snapshot of a Phase II study testing their experimental cancer immunotherapy combo that showed lower progression-free survival rates than its previous update, results that are likely to spark further debate over the closely-watched clinical trial.

Last December, the anti-TIGIT/anti-PD-L1 combo, positioned as a first-line treatment for non-small cell lung cancer, recorded data that drew mixed reactions. The latest analysis, presented Saturday afternoon at ASCO, included only a handful more patients than the previous update, but PFS rates fell — in one cohort by nearly three months.

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Bris­tol My­er­s' Op­di­vo keeps can­cer at bay in more lym­phoma pa­tients than Seagen's Ad­cetris in PhI­II: #AS­CO23

CHICAGO — In a study pitting Seagen’s Adcetris against Bristol Myers Squibb’s Opdivo in newly diagnosed patients with advanced classic Hodgkin lymphoma, a greater proportion of those who received Opdivo saw no cancer growth at one year compared to those who got Adcetris.

In addition, patients in the Opdivo arm of the Phase III trial reported reduced toxicities, according to lead investigator Alex Herrera, a hematologist-oncologist at City of Hope’s cancer cancer in Duarte, CA. Notably, the trial included more than 200 children across both arms. Generally, more than half of children with advanced Hodgkin lymphoma receive radiation therapy, but in this trial, dubbed SWOG S1826, only a handful of patients in the two arms received radiotherapy, sparing many children from long-term side effects of radiation.

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Servi­er’s vo­rasi­denib stalls pro­gres­sion of brain can­cer by 61% in piv­otal PhI­II IN­DI­GO study: #AS­CO23

An experimental pill from Servier Pharmaceuticals showed potentially practice-changing results in a narrow group of brain cancer patients, cutting the risk of their cancers progressing by 61%, according to a late-stage clinical trial.

The drug, vorasidenib, is a precision medicine that only works in certain people whose cancer carries mutations in one of two genes called IDH1/2. Doctors hope that the therapy will delay the need for chemotherapy or radiation, which are often used to combat relapses in patients who’ve previously undergone surgery to remove brain tumors.

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GSK pro­motes rou­tine im­mu­niza­tions for adults amid post-pan­dem­ic vac­cine back­slide

GSK launched a new initiative on Thursday and committed up to $1 million in grant funding to improve adult routine vaccination rates.

While the pandemic spotlight was trained on the race for novel Covid-19 vaccines, other routine vaccination rates plummeted, raising concerns that missed doses may put children and even some adults at risk of preventable diseases such as measles or shingles. The World Health Organization last year reported the largest drop in childhood vaccinations in roughly three decades.

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Tammie Denyse speaks up about Black women and breast cancer inequity in Gilead's first TikTok campaign. (Gilead Sciences)

Gilead joins Tik­Tok with on­col­o­gy aware­ness cam­paign fea­tur­ing di­verse group of can­cer ad­vo­cates

Gilead Sciences is taking over the opening page on TikTok for the next two weeks. A Gilead-sponsored video, featuring cancer advocates talking about equity and other issues, will show up as the landing page, called the “For You” page, for millions of TikTok watchers.

The cancer awareness campaign will begin on Monday and run for two weeks, a Gilead spokesperson told Endpoints News. The TikTok ad debut is timed around the ASCO medical conference, but the work is aimed more broadly at healthcare professionals, as well as people touched by cancer and people interested in advancing Black and general health equity.

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Stephen MacMillan, Hologic CEO (Photo by Riccardo Savi/Getty Images for Concordia Summit)

Il­lu­mi­na names Ho­log­ic CEO as new board mem­ber and chair

Illumina’s board appointed two new members, including Hologic CEO Stephen MacMillan as the non-executive chair, a move that followed a proxy fight that saw shareholders oust the company’s board chair.

The DNA sequencing company also appointed Scott Ullem, the CFO of Edwards Lifesciences, to the board, according to a company statement.

Illumina’s plans to add two new board members came as Carl Icahn waged a board proxy campaign culminating with shareholders electing his candidate, Andrew Teno, over board chair John Thompson. Illumina CEO Francis deSouza survived a threat to his board seat by securing more than twice the shareholder votes than his challenger. Another Illumina candidate, Robert Epstein, was also elected and remained on the board.

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