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Alaric DeArment THOUSAND OAKS , Calif. Amgen has obtained exclusive rights to a program for investigational Type 2 diabetes drugs, the biotech company announced. Amgen will pay Array BioPharma $60 million upfront plus milestone payments for the program, which covers a class of pharmaceutical drugs called glucokinase activators and includes ARRY-403, currently in phase 1 clinical trials. Array will be responsible for completing the ARRY-403 trial and will have the option to co-promote the drug in the United States, while Amgen will be responsible for future clinical development and commerciali...

Share this The big pharmaceutical companies have always tended to generate a somewhat mixed response when discussed in the wider context of stock picking. The sector has had a fairly unremarkable few years, dominated largely by the likes of the big guns of Pfizer, Roche, Novartis, Merck, Johnson & Johnson, GlaxoSmithKline and AstraZeneca, which accounted for about a third of total revenue in the sector in 2019. The publicity that pharma has had hasn’t been particularly positive, with scandals over price-gouging hitting headlines. In terms of success, it’s not always about the share price ...

12/18/2020 9:20:06 AM GMT The big pharmaceutical companies have always tended to generate a somewhat mixed response when discussed in the wider context of stock picking. Usually viewed through the lens of being defensive and boring, their PR in recent years hasn’t been particularly positive, with accusations of price gouging as far back as the 2016 Presidential election campaign when Democrat nominee Hillary Clinton pledged to rein in the sector after an outcry over the CEO of Mylan who gradually hiked prices on EpiPen’s to the tune of 461%, from $56.64 to $317.82, since acquiring the rig...