Latest news with #Erbitux
Hans India
2 days ago
- Business
- Hans India
Delhi Police busts spurious cancer drug racket; six arrested
New Delhi : The Delhi Police has busted a racket selling spurious anti-cancer drugs and arrested six men who targeted patients through social media by offering costly medicines at discounted rates, an official said on Wednesday. The accused, identified as Neeraj Kumar (23), Anil Kumar (30), Dhanesh Sharma (23), Dheeraj Kumar, Rohit Bhatti (24) and Jyoti Grover (52), targeted cancer patients through social media platforms and online groups, DCP (Crime) Vikram Singh said. They lured the patients by offering expensive drugs such as Opdivo, Keytruda, Erbitux and Lenvima at discounted rates, which they sold without any valid authorisation, the DCP said. During interrogation, the accused revealed that they procured the drugs at low costs from unregulated sources and sold them without any prescription or documentation. 'These drugs were sold at prices far below their market rates, often between Rs 50,000 and Rs 70,000, while the genuine versions cost upwards of Rs 1.5 lakh. 'The accused admitted that they sourced the medicines through illicit suppliers and sold them using personal contacts they built through social media groups frequented by patients in distress,' the officer said. Police have also seized mobile phones from the possession of the accused, which contained messages and transaction details, the officer said. Based on specific inputs, police carried out raids at Laxmi Nagar, Budh Vihar and Bhagirath Palace in Chandni Chowk, leading to the seizure of a large quantity of counterfeit and unregistered drugs, the officer said. Police arrested Neeraj Kumar and Anil Kumjar, partners in a firm named Onco Life Care Pharma, from Laxmi Nagar, and seized five spurious Opdivo injections from their office, the DCP said. Drug inspectors confirmed that the injections were counterfeit and lacked importer details, the officer said. Dhanesh Sharma and Dheeraj Kumar were arrested from Budh Vihar, where police seized multiple boxes of capsules that were not unauthorised for sale in India, the DCP said.
Korea Herald
18-05-2025
- Health
- Korea Herald
Access to breakthrough medicines in South Korea among slowest globally, industry report reveals
New drugs account for just 13.5 percent of South Korea's drug spending, less than half the OECD average New medicines may be hitting global markets at record speed, but for South Korean patients, they remain largely out of reach, often for years after their initial approval overseas. According to a 2025 report by the Korea Research-based Pharmaceutical Industry Association, only 5 percent of new drugs launched globally are available in South Korea within the first year. That's far below the OECD average of 18 percent, and significantly behind Japan's 32 percent. Delays are compounded after approval. The same KRPIA analysis, which reviewed 460 drugs approved in the US, Europe and Japan from 2012 to 2021, found that it takes an average of 28 months for South Korean regulators to approve new medicines. It takes another 18 months on average for those drugs to gain insurance coverage, meaning a total wait of nearly four years before patients can access treatments under the national health system. In contrast, Germany averages just 11 months and Japan 17 months for the same process. Pricing policy is a key reason. In South Korea, new drug prices are tied to the cost of older, similar treatments. Many older drugs are already priced low, limiting what pharmaceutical companies can charge, even for medications that show superior results. KRPIA points out that when generics enter the market, prices can drop by over 50 percent, and most new drugs end up priced at or below 90 percent of those benchmarks. Without room to negotiate, many companies choose not to launch their newest drugs in South Korea. As a result, spending on innovative treatments remains low. A 2024 study by Professor Yoo Seung-rae at Dongduk Women's University found that from 2017 to 2022, only 13.5 percent of South Korea's total health insurance drug budget went toward new medicines. That's 2.5 times lower than the OECD average of 33.9 percent. In March, the Ministry of Health and Welfare announced a new pricing model to ease this bottleneck. The so-called 'dual pricing' system allows companies to set a higher public list price while refunding the difference to the national insurer. Officials hope this will encourage more drug launches, especially from companies aiming to use Korean prices as export benchmarks. But challenges remain, particularly for combination therapies, most of which are used in cancer treatment. While such regimens are becoming standard in countries like the United States, they often remain unreimbursed in South Korea, especially when the drugs come from different manufacturers. Between 2020 and 2024, 53 combination therapies applied for expanded reimbursement, but only one cross-company case (Braftovi and Erbitux for colorectal cancer) was approved, according to data from the Health Insurance Review and Assessment Service. That means even when international studies show major survival benefits, as with recent combinations for bladder and lung cancers, South Korean patients may have no way to access them through the public system. KRPIA warns that without broader reforms, South Korea risks falling further behind in providing timely access to breakthrough treatments.
Yahoo
25-04-2025
- Business
- Yahoo
Merck KGaA nears $3.5bn deal for SpringWorks
Merck KGaA is edging closer to the SpringWorks deal, which was first rumoured in February, confirming late-stage negotiations at an estimated price of $47 per share – potentially valuing the deal at around $3.5bn. The company confirmed in a 24 April statement that while no final, legally binding agreement has been established, the 'parties are in discussion on the basis of a price of around $47 per share.' The news follows months of speculation. Market chatter around a potential acquisition began on 10 February 2025, when Reuters reported that Merck KGaA was exploring a deal. That same day, the German pharma firm acknowledged the discussions, but cautioned that there was no guarantee of a transaction. Following the report, SpringWorks shares jumped 34%, pushing the company's market capitalisation over $4bn. Merck KGaA's CEO Belén Garijobut declined to provide updates on the deal during the company's full-year earnings press call in March, keeping investors in suspense. Shares in SpringWorks were up by almost 9% when the markets opened on 25 April, after the latest development. A successful acquisition would bolster Merck KGaA's oncology portfolio with SpringWork's pipeline of targeted therapies. These include Ogsiveo (nirogacestat), which is approved for treating desmoid tumours, as well as the MEK inhibitor Gomekli (mirdametinib), which was approved in February 2025 for treating neurofibromatosis type 1 (NF1), a rare genetic disorder. According to projections from GlobalData's Pharma Intelligence Center, Gomekli is projected to generate up to $564m in global sales by 2030, while Ogsiveo sales are expected to reach $1.2bn by the same year. GlobalData is the parent company of Pharmaceutical Technology. Merck KGaA already has a strong oncology pipeline. Its top-selling product in 2024 was Erbitux (cetuximab), which generated €1.16bn ($1.25bn) in revenue. The drug is a monoclonal antibody used to treat certain head and neck cancers, and colorectal cancer. However, not all programs have been as successful. In June 2024, Merck KGaA terminated the Phase III TrilynX clinical trial of xevinapant after the drug failed to significantly improve survival in patients with locally advanced head and neck cancer. Additionally, Merck KGaA has faced setbacks in its neurology pipeline, including the discontinuation of BTK inhibitor evobrutinib in March 2024. The decision followed two Phase II trials in relapsing multiple sclerosis, where the drug did not achieve a statistically significant reduction in annual relapse rates compared to Sanofi's Aubagio (teriflunomide). The programme had already come under scrutiny in April 2023, when the US Food and Drug Administration (FDA) placed a partial clinical hold on a Phase III study after cases of liver injury were reported. Merck KGaA has continued to prioritise the expansion of its oncology portfolio. Earlier in April 2025, the company signed a $1.4bn multi-year collaboration with Caris Life Sciences to access novel antibody-drug conjugate (ADC) targets. Under the agreement, Caris will identify tumour-associated targets, which Merck KGaA will take into preclinical and clinical development. Merck KGaA also has an internal ADC programme, with its lead candidate M9140 currently in Phase I trials for colorectal cancer. "Merck KGaA nears $3.5bn deal for SpringWorks" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
07-03-2025
- Business
- Yahoo
Merck KGaA reports YE24 earnings growth amid SpringWorks acquisition talks
Merck KGaA reaffirmed its strong performance in the healthcare sector in its FY 2024 earnings report, but provided little additional information on ongoing acquisition talks with SpringWorks Therapeutics. Speculation surrounding a potential transaction between the two companies first emerged on 10 February 2025, when Reuters reported that Merck KGaA was engaged in discussions to acquire SpringWorks. The same day, Merck KGaA acknowledged the negotiations, but stressed that there was no certainty a deal would be finalised. SpringWorks' stock price surged by 34% following the disclosure of the discussions, pushing its market capitalisation over $4bn. During a 6 March press call, Merck KGaA's CEO Belén Garijo stated that there 'is very little that we can say at this time,' regarding the ongoing talks. A successful acquisition would provide Merck KGaA with SpringWorks' portfolio of targeted oncology therapies, including Ogsiveo (nirogacestat), which is approved for desmoid treating tumours, as well as the MEK inhibitor Gomekli (mirdametinib), which was recently approved in February 2025 for treating neurofibromatosis type 1 (NF1), a rare genetic disorder. According to GlobalData's Pharma Intelligence Center, Gomekli is projected to generate up to $564m in global sales by 2030, while Ogsiveo sales are expected to reach $1.2bn by the same year. GlobalData is the parent company of Pharmaceutical Technology. Garijo emphasised that Merck KGaA's broader merger and acquisition (M&A) strategy remains focused on targeted, lower-risk deals aimed at strengthening its life sciences and healthcare portfolio, particularly through late-stage in-licencing opportunities. 'This is going to be absolutely limited to clear cut, low risk deals that will create value from very early on. So rest assured, we will fully comply with this and stay extremely disciplined when executing our M&A agenda,' said Garijo in a call to investors. The company's healthcare division reported 7% net sales growth in 2024, reaching €8.5bn ($9.2bn). Oncology was a key driver of this performance, with sales in the segment increasing by 12.7% to €2bn ($2.17bn). The company has made moves in the oncology space in recent years, including an October 2024 acquisition of Modifi Biosciences, a Yale University-spinout focused on DNA repair-targeting cancer therapies. Merck KGaA acquired all outstanding shares of Modifi through a subsidiary for an upfront payment of $30m, with the potential for additional milestone payments totalling up to $1.3bn. Merck KGaA's top-selling product in 2024 was Erbitux (cetuximab), which generated €1.16bn ($1.25bn) in revenue. The drug – a monoclonal antibody used in the treatment of certain head and neck cancers as well as colorectal cancer – is expected to see continued sales growth, with GlobalData's projections estimating it could generate $1.9bn in annual revenue by 2030. "Merck KGaA reports YE24 earnings growth amid SpringWorks acquisition talks" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
27-01-2025
- Business
- Yahoo
Pfizer's Conditionally Approved Braftovi Combo Therapy Regime Shows Improved Response In Colorectal Cancer Patients
On Saturday, Pfizer Inc. (NYSE:PFE) revealed results from the Phase 3 BREAKWATER trial evaluating Braftovi (encorafenib) in combination with cetuximab (marketed as Erbitux) and mFOLFOX6 (fluorouracil, leucovorin, and oxaliplatin) in patients with metastatic colorectal cancer (mCRC) with a BRAF V600E mutation. At the time of this analysis, the Braftovi combination regimen demonstrated a clinically meaningful and statistically significant improvement in confirmed objective response rate (ORR) compared to patients receiving chemotherapy with or without bevacizumab (60.9% vs. 40.0%). Also Read: The results were presented at the 2025 American Society of Clinical Oncology Gastrointestinal Cancer Symposium (ASCO GI) and were simultaneously published in Nature Medicine. The estimated median duration of response was 13.9 months with Braftovi plus cetuximab and mFOLFOX6 and 11.1 months with chemotherapy with or without bevacizumab. Of patients on Braftovi plus cetuximab and mFOLFOX6, 22.4% (n=15) had a response lasting 12 months or longer, compared to 11.4% (n=5) with chemotherapy with or without bevacizumab. The median time to response was 7.1 weeks with Braftovi plus cetuximab and mFOLFOX6 and 7.3 weeks with chemotherapy with or without bevacizumab. Overall survival (OS) data were immature during this analysis but demonstrated a trend favoring Braftovi plus cetuximab and mFOLFOX6 compared to patients receiving chemotherapy with or without bevacizumab. Median overall survival with Braftovi plus cetuximab with chemotherapy was not estimable, and 14.6 months with chemotherapy with or without bevacizumab. The BREAKWATER trial is ongoing for OS and progression-free survival (PFS), with PFS results expected in 2025. The safety profile of Braftovi in combination with cetuximab and mFOLFOX6 in the BREAKWATER trial was consistent with the known safety profile of each respective agent. No new safety signals were identified. In December 2024, the FDA granted accelerated approval to Braftovi in combination with cetuximab and mFOLFOX6 for BRAF V600E-mutant mCRC. Price Action: PFE stock is up 2.76% at $26.81 at the last check on Monday. Read Next:Image via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? PFIZER (PFE): Free Stock Analysis Report This article Pfizer's Conditionally Approved Braftovi Combo Therapy Regime Shows Improved Response In Colorectal Cancer Patients originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
