Takeda family preps for a last-stand vote against Shire buyout; Eli Lilly reportedly shopping drug portfolio in China
→ Kunio Takeda’s last shot at derailing Takeda’s $62 billion takeover of Shire will take place during the big shareholder vote coming up on December 5. The senior Takeda family member isn’t talking to the Financial Times this week, but he’s made his position known to others. “(H)e never imagined that the company would pursue such a radical form of globalisation,” one person close to Takeda told the FT. “He has recently expressed his views that he is against this deal.” It’s also unlikely he’ll have anything close to the votes needed to stop the acquisition, which gives CEO Christophe Weber the global operation he wanted to create.
→ Eli Lilly is looking to sell off a portfolio of off-patent drugs in China in a deal that could fetch up to $300 million, according to a report from Bloomberg. The company is raising cash at a time they’re looking to garner more revenue from new products, much like AstraZeneca.
→ MorphoSys and I-Mab are extending their immuno-oncology partnership to MOR210, a preclinical antibody targeting C5aR. In addition to $3.5 million upfront, I-Mab is also picking up the tab for development of the drug around the world in exchange for commercialization rights in mainland China, Hong Kong, Macau, Taiwan and South Korea. Milestones add up to $101.5 million for MorphoSys $MOR — which can now turn to other priorities — while I-Mab also stands to receive sales royalties down the road given it executes a successful proof-of-concept study.
→ Immunicum AB has set up a collaboration with Merck KGaA and Pfizer to study their drug ilixadencel in combination with Avelumab in a multi-indication Phase Ib/II trial.