A summary in Friday's BIO SmartBrief included incorrect 2012 revenue figures for Pfizer and Novartis. Pfizer's revenue last year was $58.986 billion. Novartis reported 2012 sales of $56.673 billion. SmartBrief regrets the error.
AstraZeneca's MedImmune unit agreed to acquire cancer immunotherapy-maker Amplimmune for $225 million upfront plus $275 million in milestone fees. The deal, expected to be completed this quarter, will help bolster MedImmune's cancer drug pipeline. "MedImmune's focus on harnessing the power of the patient's own immune system to fight cancer will be complemented by Amplimmune's innovative work in this area," MedImmune Executive Vice President Dr. Bahija Jallal said.
Amarin filed a supplemental new-drug application with the FDA for approval to make Novasep an additional supplier of the active pharmaceutical ingredient for Vascepa, or icosapent ethyl. If approved, Novasep, through its subsidiary Finorga, would become the fourth supplier of the Vascepa's API.
The Biomedical Advanced Research and Development Authority awarded Novan Therapeutics a two-year contract worth $7.8 million to develop a nitric oxide-based topical treatment for thermal burns. "The challenge is to create stable nitric oxide drugs that 'perform on command' and deliver a controlled, sustained dose that will supplement the body's ability to regenerate tissue," Novan President Nathan Stasko said.
Pfizer, which generated revenue of $58.986 million last year, topped IndustryWeek's 2013 ranking of the world's largest public manufacturers of pharmaceuticals based on revenue. Following closely was Novartis with revenue of $58.748 million. Not counting its consumer goods revenue, Johnson & Johnson would rank third. Other top companies were Roche Holding, Sanofi and Merck & Co.