More Large COVID Contracts For Drug Companies
Pharmaceutical industry news includes AstraZeneca's $486 million government contract for COVID antibody treatment; a metformin recall; and Mallinckrodt filing for bankruptcy.
Reuters:
U.S., AstraZeneca Strike Deal For Covid-19 Antibody Treatment
The U.S. government has awarded $486 million to AstraZeneca Plc to develop and secure supplies of up to 100,000 doses of Covid-19 antibody treatment, a similar class of drug that was used in treating President Donald Trump. The agreement, under the Trump administration’s Operation Warp Speed, is for developing a monoclonal antibody cocktail that can prevent Covid-19, especially in high-risk population like those over 80 years old, the U.S. Department of Health and Human Services said. (10/12)
Cincinnati Enquirer:
Metformin Recalled, May Contain High Levels Of Cancer-Causing Compound
Two pharmaceutical companies issued voluntary recalls Monday for metformin, an anti-diabetes drug, due to high levels of a cancer-causing compound, according to a release from the U.S. Food and Drug Administration. Metformin is used to treat type 2 diabetes, according to Mayo Clinic, and is distributed under the following brand names: Fortamet, Glucophage, Glucophage XR, Glumetza and Riomet. (Mitchell, 10/9)
Reuters:
South Korea's Celltrion Gets Approval For Phase 3 Trials Of COVID-19 Antibody Drug
South Korean drugmaker Celltrion Inc 068270.KS said on Monday it has received regulatory approval for Phase 3 clinical trials of an experimental COVID-19 treatment. The approval comes as the company plans to seek conditional approval for its antibody drug, CT-P59, for emergency use by the end of this year. (Cha, 10/12)
In other pharmaceutical and biotech news —
CNBC:
Mallinckrodt Files For Bankruptcy Protection Amid U.S. Opioid Litigation
Mallinckrodt filed for bankruptcy protection on Monday, saddled with lawsuits alleging it fueled the U.S. opioid epidemic and after it lost a court battle to avoid paying higher rebates to state Medicaid programs for its top-selling drug. The company listed both assets and liabilities in the range of $1 billion to $10 billion in a filing with the U.S. Bankruptcy Court for the District Of Delaware. (10/12)
Stat:
'We Have To Deal With Uncertainty': FDA Leaders Explain How Covid-19 Has Upended Cancer Research And Care
The Covid-19 pandemic has wreaked havoc across the globe — including upending the process of drug development. That has been especially true in clinical trials for oncology, which come with a complex set of considerations. Patients often have to come into the clinic or be hospitalized for treatment. They also have to be protected against possible infections that could devastate a weakened immune system. (Spinelli, 10/9)
AP:
Next Gen Remote Therapy Has Bluetooth, Pulse Monitors, More
When patients sign up for the newest kind of therapy at the Mental Health Center of Denver, here’s what comes in their welcome packet: A biofeedback device that clips to their ear to measure pulse and blood-oxygen levels. A phone stand to prop up a smartphone during therapy sessions. And directions for downloading an app to chat with a therapist. It’s a new era in technology for the community mental health center, a key step toward “preparing for the next generation,” said Alires Almon, the center’s director of innovation. The 12-week, virtual therapy program isn’t meant to replace traditional face-to-face counseling — it’s a contemporary option for people who would rather work on their mental health at home with their smartphone than walk into a mental health center. (Brown, 10/11)
