Merck touts Phase III data for antibacterial Recarbrio; Sanofi to ax 200 jobs in Japan — report
→ According to an anonymous source who reported to Reuters, French drugmaker Sanofi plans to ax 200 jobs in Japan across sales, regulatory affairs and operations. This adds to the ongoing plans of reorganization by research chief John Reed. Back in June, the company announced it would be placing 466 jobs in France and Germany on the chopping block and trimming of their staff in the US by offering employees an “early exit”. A Sanofi representative added, “Sanofi Japan plans to implement a voluntary retirement programme in order to adapt to the external environment changes and to transform our business models to continue our growth.”
→ In July, Merck‘s Recarbrio had secured FDA approval for the treatment of complicated urinary tract and intra-abdominal infections. Now the company has announced that the pivotal Phase III RESTORE-IMI II trial — which was investigating the efficacy and safety of the antibacterial for use in adult patients with hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia (HABP/VABP) — met its primary endpoint. “Results showed that Recarbrio met both primary and key secondary endpoints of statistical non-inferiority compared to piperacillin/tazobactam in Day 28 all-cause mortality and clinical response at early follow up, respectively, in the modified intent-to-treat (MITT) population. Rates of adverse events observed in the trial were similar in both groups.” The company plans to present full data from the trial in 2020.
→ Some of Mallinckrodt‘s opioid woes are coming to an end. The company has reached a definitive settlement agreement and release with two counties in Ohio in connection to current pending lawsuits in the US District Court for the Northern District of Ohio. The company says that the settlement fully resolves the Track 1 cases against it, currently scheduled to go to trial in October. “Under the agreement, the company will pay $24 million in cash and provide $6 million in generic products, including addiction treatment products. It also will provide a $500,000 payment in two years in recognition of the counties’ time and expenses.”
→ Swiss-based Creoptix has raised CHF 8 million in a Series C financing. The round was led by Swisscanto Invest by Zürcher Kantonalbank and joined by Waters Corporation in addition to existing private investors. In addition, Robert Schier — who hails from Swisscanto Invest — has joined the company’s board of directors. With this round, the company has raised more than CHF 15 million since 2013. The financing will be used towards strengthing the company’s operations in Europe and the US.
→ After recently domestically launching their SGLT2 inhibitor Remogliflozin in combination with metformin, India’s Glenmark has secured approval from Russia’s health regulator to market Monlezir (Levocetirizine Dihydrochloride 5mg + Montelukast Sodium 10mg) filmcoated tablets for the treatment of seasonal and perennial allergic rhinitis in patients above 15 years of age. The company said that the drug is expected to be available in the Russian market in Q3 FY 2019-20.
→ Oxford, UK-based research company Arctoris — which bills itself as an automated drug discovery platform — has closed a seed funding round of £3.2 million. The funding will be used towards the company’s commercial operations and service portfolio — which they say will enable the company’s customers to “rapidly and accurately achieve drug discovery milestones from target identification to candidate characterisation, as well as dataset generation for artificial intelligence (AI/ML) model validation and training.”