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Cephalon files bid document for ChemGenex
FRAZER, Pa. — Cephalon has lodged a bidder’s statement to acquire Australian drug maker ChemGenex Pharmaceuticals for $167 million, Cephalon said Wednesday.
Cephalon, which said its offer of 70 Australian cents per share represented a premium of nearly 60% over ChemGenex’s stock price as of March 29, said the Australian company’s directors had unanimously recommended approval of the acquisition. ChemGenex specializes in developing treatments for cancer.
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FDA advisory committee recommends approval for Pfizer's Sutent
NEW YORK — A Food and Drug Administration expert panel has given a favorable vote to a drug made by Pfizer for tumors, Pfizer said Tuesday.
The FDA’s Oncologic Drugs Advisory Committee voted 8-2 that Sutent’s (sunitinib malate) benefits outweigh its risks in the treatment of unresectable pancreatic neuroendocrine tumors.
While the FDA is not bound by advisory committee votes, it takes them into consideration when deciding whether or not to approve a drug.