Mannkind chief commercial officer Michael Castagna is trying to resuscitate the inhaled insulin maker after its co-marketing agreement with Sanofi (NYSE:SNY) was cancelled at the beginning of the year due to disappointing sales. He’s fielding a team of about 70 people to sell the company’s Afrezza insulin inhaler, with about ⅓ coming from the medical […]
Strong earnings help Consort Medical recover from hit by delay in Mylan approval
Consort Medical (LON:CSRT) said the impending launch of a generic Advair inhaler by Mylan (NSDQ:MYL) represents a significant opportunity for its Bespak drug delivery device unit, but analysts were less impressed after the FDA delayed its decision date for asthma therapy to March 28, 2017. That pushed CSRT shares down -1.9% to a $1.35 (941 pence) close yesterday on […]
Abbott touts clinical trial of its wearable glucose monitor at ADA
Abbott (NYSE:ABT) touted clinical trial results of its wearable Freestyle Libre glucose monitor at the annual meeting of the American Diabetes Association in New Orleans. Compared to users of conventional blood glucose monitors that require a finger prick, diabetics on the Libre spent 38% less time in hypoglycemia, the company said. Patients in the clinical […]
Struggling GlaxoSmithKline bets big on neural implants to fuel turnaround
GlaxoSmithKline‘s (NYSE:GSK) interest in tiny neural implants is stronger than ever, even amid declining earnings and flopped drug candidates that have turned CEO Andrew Witty into a lame duck who will step aside in 2017. Despite the turmoil, the British pharma giant is investing $50 million in so-called bioelectronics via Action Potential Ventures, aiming to fund companies […]
Fresenius, Smiths in the hunt for Pfizer’s $1.5B infusion pump biz
Germany’s Fresenius (NYSE:FMS) and Britain’s Smiths Group (LON:SMIN) have emerged as the final bidders for Pfizer‘s (NYSE:PFE) infusion pump business, inherited via the Big Pharma’s September 2015 purchase of Hospira for $15 billion. The winning bid is expected to be around $1.5 billion, according to Reuters. Private equity firm Pamplona Capital Management was also interested and reportedly made a […]
Biostage unveils $5 million offering for organ regeneration tech
Organ regeneration specialist Biostage (NSDQ:BSTG), formerly know as Harvard Apparatus Regenerative Technology, announced that it will offer $5 million worth of common stock May 19 to fund its ongoing R&D efforts. BSTG shares closed down -3.5% at $1.65 apiece yesterday on the news. The offering comes on the heels of word that the Holliston, Mass.-based company […]
Staar Surgical wins Health Canada nod as shares hit 52-week low
Implantable contact lens maker Staar Surgical (NSDQ:STAA) said it earned Health Canada approval to sell its EVO Visian ICL in the country. The device to correct myopia and astigmatism is permanently implanted between the iris and the eye’s natural lens. Staar sells 3 implantable lenses under its Visian franchise, but none are available in the U.S., according […]