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Xynomic Pharmaceuticals has acquired from Pharmacyclics the exclusive worldwide rights to develop, manufacture and commercialize Abexinostat, a potentially best-in-class innovative Pan-Histone Deacetylase Inhibitor designed to target hematological and solid tumors. To date a total of 14 Phase 1 and 2 clinical trials of Abexinostat in U.S., EU and Asia have been completed, demonstrating that Abexinostat is clinically active in multiple tumor settings. Xynomic says it aims to initiate Phase 3 registrational trials worldwide in the third quarter.
Merck took a pre-tax $2.9 billion hit on its hepatitis C drug candidate uprifosbuvir due to flagging sales in the market based on the success of drugs already available, presumably Gilead’s Harvoni and Sovaldi therapies. Merck acquired the drug in 2014 with its $3.9 billion acquisition of Idenix Pharmaceuticals, and it now values the drug at $240 million.
Henry Schein, Inc. has entered into an agreement to acquire Southern Anesthesia & Surgical, a U.S. distributor of anesthesia and surgical supplies to oral surgeons, dental anesthesiologists, and periodontists. Southern Anasthesia, which offers controlled and non-controlled pharmaceuticals, as well as surgical supplies, to about 11,500 customers, had 2016 sales of $72 million.