Pfizer on kidney cancer drug: Extends lives of patients
NEW YORK — Pfizer got promising results from a late-stage clinical trial of a cancer treatment, the drug maker said Friday.
Pfizer announced results of the phase-3 “AXIS 1032” trial of the kidney cancer drug axitinib, saying that it “significantly” extended the lives of patients with advanced renal cell carcinoma compared with Nexavar (sorafenib), made by Bayer HealthCare and Onyx Pharmaceuticals.
“It is gratifying that in this trial, axitinib provided significant benefit to patients with advanced renal cell carcinoma whose disease had progressed after first-line therapy,” said Mace Rothenberg, SVP clinical development and clinical affairs of Pfizer oncology business unit. “These results provide insight into the potential value of axitinib as part of a sequential treatment approach in patients with advanced RCC.”
Cardinal Health to acquire pharmaceutical distributor Kinray
DUBLIN, Ohio Cardinal Health is looking to expand the pharmaceutical segment of its business by acquiring a pharmaceutical distributor serving the New York metropolitan area.
The company said its acquisition of Kinray for $1.3 billion in an all-cash transaction would significantly expand its ability to serve retail independent pharmacies in the northeastern United States. Kinray currently serves more than 2,000 retail independent pharmacy customers as a distributor of both branded and generic pharmaceuticals.
After the transaction is complete, Kinray customers will be able to tap into a leading line of service offerings from Cardinal Health, Cardinal Health said.
"Adding Kinray to the Cardinal Health pharmaceutical segment portfolio will enable us to build on our increasing presence in community pharmacy and accelerate our growth in this important channel," said George Barrett, Cardinal Health chairman and CEO. "We are excited to have the Kinray employees join the Cardinal Health family, and we look forward to their contributions. Kinray has a long-standing service tradition with its customers. We intend to continue that tradition, utilizing its customer expertise and Whitestone distribution facility, while creating additional value for its customers through branded pharmaceutical programs, inventory and pharmacy management tools, and Cardinal Health’s extensive generic drug program."
Genzyme sells diagnostics biz
CAMBRIDGE, Mass. — Biotech company Genzyme is selling its diagnostics business to Sekisui Chemical for $265 million, Genzyme said Thursday.
Under the deal, Sekisui will purchase the diagnostics business’ assets, including product lines and technologies, and offer employment to its 575 employees while maintaining operations in all of its current locations.
“With this transaction, we are continuing to execute on our plan to increase value for shareholders,” Genzyme chairman and CEO Henri Termeer said. “This sale is part of our strategy to sharpen the company’s focus and allocate our resources to key areas for our future growth, such as manufacturing, our rare disease business and our product pipeline.”
The diagnostics business is one of three that Genzyme has sought to sell off, the other two being Genzyme Genetics, which it sold to Laboratory Corp. of America in September, and the pharmaceuticals business, which it has yet to sell.