Teva, OncoGenex enter cancer treatment collaboration
BOTHELL, Wash. Teva Pharmaceutical Industries and OncoGenex Pharmaceuticals will work together to develop and commercialize an investigational drug for cancer, the two drug makers announced Monday.
The drug, OGX-011, will undergo three phase 3 clinical trials starting in 2010 as a treatment to prevent the body from resisting cancer therapy and enhance the effectiveness of chemotherapy. Teva will pay OncoGenex $60 million upfront, and OncoGenex may receive up to $370 million in milestone payments, in addition to royalties. Teva will cover development and commercialization expenses, while OncoGenex will be able to co-promote the drug in the United States and Canada.
Teva said the agreement with Bothell, Wash.-based OncoGenex would strengthen its pipelines of branded drugs and cancer treatments.
“We see OGX-011 as a key component of our branded oncology medicines franchise, expanding our pipeline of existing oncology therapeutics and broadening the future available therapies made by Teva for oncology patients and care providers,” Teva Group VP global branded products Moshe Manor said in a statement. “OGX-011 is supported by compelling data demonstrating the drug’s ability to benefit patients on top of several currently available chemotherapies in a number of oncology indications.”
Lilly expands CFO’s role
INDIANAPOLIS Eli Lilly & Co. has expanded the role of its CFO, the drug maker announced Friday.
The Indianapolis-based pharmaceutical manufacture said that CFO and SVP Derica Rice had been promoted to CFO and EVP global services. He will assume the new position on Jan. 1 and be responsible for global services and the company’s ongoing global services design project.
“Derica has demonstrated strong leadership and outstanding results during his 19-year career at Lilly,” Lilly president John Lechleiter said in a statement. “Derica, in his new role, will help ensure that these important functions, aligned with our global services design effort, continue to provide needed support to our business units and our key functions in the most efficient and effective way possible.”
Rice began working for Lilly in 1990 as an international treasury associate and has served in various executive positions, including CFO, of the company’s subsidiaries in Canada and Europe.
FDA approves COPD treatment
RIDGEFIELD, Conn. The Food and Drug Administration has approved an inhaler for reducing the risks of exacerbations associated with chronic obstructive pulmonary disorder.
Pfizer and Boehringer Ingelheim Pharmaceuticals announced the FDA’s approval of Spiriva HandiHaler (tiotropium bromide). The inhaler is already approved as a maintenance treatment for COPD, which includes chronic bronchitis and emphysema.
“Exacerbations of COPD are serious events that can negatively impact the lives of patients,” University of California Los Angeles David Geffen School of Medicine professor emeritus Donald Tashkin said. “People with COPD now have a once-daily treatment option that not only helps them manage the debilitating symptoms of COPD, but also can help them reduce the chance of an exacerbation.”