businessBankrupt Clovis selling Rubraca to highest bidder Cancer drugmaker Clovis Oncology has been dismantling itself since declaring bankruptcy four months ago. It's now found a buyer for its ovarian cancer drug, Rubraca. Switzerland-based Pharma & Schweiz GmbH won a bidding war for the drug with a $70 million offer, along with an additional $65 million in potential milestone payments. Dr. Reddy's Laboratories of India has been named the "back-up bidder," FiercePharma writes.
Rubraca, which was approved in 2016, has been largely responsible for the company's insolvency. Sales of the PARP inhibitor drug peaked in 2014 at $164 million, but the pandemic reduced the number of women diagnosed with ovarian cancer. And last year, the FDA said that a Phase 3 study suggested that Rubraca might cause harm to some patients with ovarian cancer. Clovis said in its bankruptcy filing that it said it had $319 million in assets, and $754 in debt.
vaccinesLofty claims from Moderna's chief medical officer Fueled by momentum from the company's Covid vaccines, Moderna's chief medical officer is making some lofty statements about its pipeline. Paul Burton told the Guardian that vaccines for cancer, cardiovascular, and autoimmune diseases will be ready by 2030. Burton said the company's cancer vaccine "will be highly effective, and it will save many hundreds of thousands, if not millions of lives. I think we will be able to offer personalized cancer vaccines against multiple different tumor types to people around the world."
There's no doubt that such vaccines have been developing at rapid clip; Moderna said last month it was considering seeking accelerated approval for its personalized cancer vaccine, which it's testing in tandem with Merck's Keytruda. But we're a touch wary of bold claims after seeing one or two moonshots come and go. Whether a technology holds up, only time will tell.
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