Baxter buys cancer portfolio for $900 million
pharmafile | May 13, 2015 | News story | Research and Development, Sales and Marketing | Cancer, Oncaspar, Sigma-Tau Finanziaria, baxter, oncology
Baxter is buying leukaemia treatment Oncaspar from Italian firm Sigma-Tau Finanziaria for $900 million as the US firm looks to bolster its oncology business.
Along with the company’s Oncaspar portfolio it will be taking on a new chemical entity calaspargase pegol – a biologic in development for the treatment of acute lymphoblastic leukemia (ALL).
This latest move is key towards the creation of a separate oncology division for Baxter – Baxter BioScience – which is set to start trading as a public company this year.
“Oncaspar is a strong strategic fit for our rapidly expanding oncology business, as it complements our R&D programmes in haematologic cancers,” says David Meek, head of oncology for Baxter BioScience.
“The acquisition provides an immediate commercial footprint in the US and Europe with a heritage of expertise in treating this challenging disease.”
Oncaspar is a first-line biologic used as part of a chemotherapy regimen to treat ALL and is marketed in the US, Germany, Poland along with other countries – and is said to bring in around $100 million from annual sales.
Baxter plans to put Oncaspar through its paces for potential new indications, including in additional ALL patient populations with significant unmet needs, as well as for acute myeloid leukaemia.
ALL is a rapidly progressing cancer of the white blood cells responsible for more than 80% of childhood leukaemia cases.
Baxter is no stranger to the blood disorder market, having just recently being on the receiving end of positive Phase III trial results for its investigational haemophilia drug BAX 817.
It hopes this big acquisition will accelerate the company’s efforts to capitalise on a rapidly growing oncology market, which it estimates to be worth $10 billion across current oncology indications for its pipeline assets.
Offering a view from the other side of the fence is Andrea Montevecchi, the chief executive of Sigma Tau Finanziaria, who says: “We are confident that this transaction provides benefits for patients, our business and our employees.
“The Oncaspar team will gain beneficial resources by joining forces with Baxter BioScience to bring this valuable treatment to more patients around the world.”
Brett Wells
Related Content
Rethinking oncology trial endpoints with generalised pairwise comparisons
For decades, oncology trials have been anchored to a familiar set of endpoints. Overall survival …
Pharma&’s ovarian cancer therapy approved for use by NHS Scotland
Pharma& has announced that its treatment for ovarian cancer, Rubraca (rucaparib), has been accepted by …
Bio-Rad signs exclusive European distribution deal with Gencurix for oncology testing kits
The agreement expands access to oncology testing kits across Europe
