Provenge Drug Maker Dendreon Said to Be Seeking Takeover Offers By David Welch, Beth Jinks & Meg Tirrell - Oct 26, 2013 6:00 AM GMT+0200 Facebook Share Tweet LinkedIn Google +1 COMMENTS Print QUEUE Q Dendreon Corp. (DNDN), the drugmaker whose market value has shrunk by more than half since August, is seeking a buyer after sales of its prostate-cancer treatment failed to meet expectations, said people familiar with the matter. Dendreon, the maker of Provenge, is working with JPMorgan Chase & Co. (JPM) to find suitors, said one of the people, who asked not to be named as the process is private. The company, whose market value once topped $7 billion, has generated about $2 billion in losses over the past decade. That market capitalization now hovers at about $400 million. Enlarge image Dendreon Headquarters Dendreon Corp. said in early August that sales of Provenge, its sole marketed product, wouldn?t increase this year as forecast. Photographer: Kevin P. Casey/Bloomberg Dendreon said in early August that sales of Provenge, its sole marketed product, wouldn?t increase this year as forecast. When the treatment won approval in 2010, analysts projected the drug could generate $4.3 billion in sales by 2020. Today the estimate for that period has shrunk to $476.5 million. Dendreon, led by Chairman and Chief Executive Officer John Johnson, has burned through money for at least six straight quarters. Cash and short-term investments had dropped to $207.4 million as of June from $538.6 million at the end of 2011. Andy Brimmer, a spokesman for Seattle-based Dendreon with Joele Frank Wilkinson Brimmer Katcher, yesterday declined to comment on any sale process. A JPMorgan spokeswoman also declined to comment.
Dendreon upgraded to Buy from Hold at Maxim Maxim upgraded Dendreon and raised its price target for shares to $10 from $3 after Bloomberg reported late Friday that the company is seeking a buyer. The firm believes Provenge is a viable asset and thinks Dendreon could be worth $10 per share in a buyout.
für die kommenden zwei Quartale i.V. mit diversen Meinungen führender, amerikanischer Onkologen zur Anwendung von Provenge in Kombination mit Zytiga bzw. Xtandi bin ich mir sicher wie nie: Bevor der Schnee schmilzt, ist Dendreon übernommen. Und der Übernehmende wird m.E. nicht Astellas sein. Bis dahin werden die Shorts (short interest zum 31.10.2013 = 59,7 Mio) und der potentielle Käufer am offenen Markt ihren Spaß ausleben dürfen. Spaß bedeutet für mich in diesem Zusammenhang, dass der Kurs kurzfristig unter $ 2/share gehämmert werden kann. Gleichwohl mögen die Shorts nicht verkennen, dass J&J, mein Topanwärter, zu jeder Zeit der Bespaßung ein Ende setzen kann.
Es ist gut, dass der CEO zu einer möglichen Übernahme kein Wort verloren hat, denn die Wurst schmeckt nicht besser, wenn der Metzger im Vorfeld mit dem Schwein spricht.
Pharmakonzern Merck will Forschung durch Zukäufe stärken 12.11.2013 10:28
DARMSTADT (awp international) - Der Darmstädter Pharma- und Spezialchemiekonzern Merck will seine Medikamentenforschung durch Zukäufe stärken. Forschungschefin Annalisa Jenkins sagte dem "Handelsblatt" (Dienstagausgabe) sie wolle bei Merck ähnlich vorgehen wie bei ihrem früheren Arbeitgeber, dem US-Pharmakonzern Bristol-Myers Squibb (BMS) . Dieser hat seine Produktpipeline in den vergangenen Jahren mit einer Serie kleiner und mittelgrosser Akquisitionen erneuert. "Eine ähnliche Strategie verfolgen wir auch bei Merck", sagte Jenkins.
Um langfristig erfolgreich zu sein, müsse Merck ab 2018 pro Jahr mindestens einen neuen Wirkstoff oder eine wesentliche Verbesserung oder Zulassungserweiterung auf den Markt bringen. Merck ist in diesem Jahr bereits eine Reihe von neuen Allianzen eingegangen, um die Forschung zu erneuern. Dabei handelt es sich aber um frühe Forschungsprojekte. "Wir brauchen daher auch strategische Transaktionen", räumte Jenkins ein. Stärken will sie vor allem die Pipeline mit Projekten in der Onkologie sowie in den Autoimmunerkrankungen./mne/she/fbr
November 26, 2013 Dendreon Announces Webcast Presentation at Deutsche Bank BioFEST Conference SEATTLE--(BUSINESS WIRE)-- Dendreon Corporation (Nasdaq:DNDN) today announced that management will present at the 6th Annual Deutsche Bank BioFEST Conference in Boston, Massachusetts on December 3, 2013 at 3:25 p.m. ET.
The presentation will be webcast live and available for replay from Dendreon's website, www.dendreon.com. If you are unable to listen to the live webcast, it will be archived on the site following the presentation. To access the replay, go to the Investor Relations section of the website.
Treatment with PROVENGE® (sipuleucel-T) Induces Antigen Spread Associated with Overall Survival Benefits In Advanced Prostate Cancer
Data from ProACT, IMPACT and PROCEED to be Presented at the 2014 American Urological Association (AUA) Annual Meeting
Business Wire Dendreon Corporation 7 hours ago
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May 20, 2014-Dendreon Corporation (NASDAQ: DNDN) today announced the presentation of data from the ProACT and IMPACT studies suggesting that PROVENGE® (sipuleucel-T) elicits an immune response associated with an overall survival benefit. Also being presented are data from the PROCEED registry suggesting similar treatment patterns for urologists and oncologists in PROVENGE-treated patients with metastatic castration-resistant prostate cancer (mCRPC). The ProACT and IMPACT data will be reported in a podium presentation and the PROCEED data will be included in a general poster session during the 2014 American Urological Association (AUA) Annual Meeting from May 16-21, 2014 in Orlando, Florida.
?These data further elucidate the mechanism of PROVENGE in the treatment of mCRPC and the important role immunotherapy plays in the prescribing practices of urologists and oncologists, which may improve outcomes for patients,? said Andrew S. Sandler, M.D., executive vice president and chief medical officer at Dendreon. ?The elevated immune response against prostate-specific antigen (PSA) in the ProACT and IMPACT studies is correlated with overall survival, and may point to a useful biomarker of treatment benefit.?
Clinical presentations featuring PROVENGE studies at the annual scientific urology meeting include: ? Abstract PD27-04: Simon Hall, M.D., associate professor of urology at Mt. Sinai Hospital, will present ?Sipuleucel-T-Induced Antigen Spread: Immune Response to Prostate-Specific Antigen Correlates with Improved Overall Survival:? Data from the Phase III IMPACT and Phase II ProACT studies show evidence that antigen spread may occur after PROVENGE treatment, indicating the immune response evolves over time to target multiple prostate antigens. These data may help identify biomarkers of clinical outcome after treatment with PROVENGE. May 20,8:00 AM ? 10:00 AM ET, Prostate Cancer: Advanced I (Podium Presentation, Room W304E) ? Abstract MP70-20: Matthew R. Cooperberg, M.D., M.P.H, associate professor of urology at University of California, San Francisco, will present a poster titled ?Treatment Practice Patterns in Metastatic Castration-Resistant Prostate Cancer (mCRPC) Patients Prior to Receiving Sipuleucel-T: Data from PROCEED:? A subgroup analysis from the ongoing Phase IV registry of mCRPC patients suggest treatment patterns between urologists and oncologists are similar, helping to better understand prescribing trends prior to and following use of PROVENGE. May 20,10:30 AM ? 12:30 PM ET, Prostate Cancer: Advanced II (Moderated Poster Session, Room W307)
?The evolution of immunotherapy treatment continues to be a focus for the future of urology research, as evidenced in the PROVENGE data presented at AUA,? said Simon Hall. M.D., associate professor of urology at Mt. Sinai Hospital. ?The biomarker potential of the anti-PSA immune response suggested in the IMPACT and ProACT data is exciting as it continues to reinforce the positive impact immunotherapies and PROVENGE may have on patients with mCRPC.?
Important Safety Information for PROVENGE
PROVENGE® (sipuleucel-T) is an autologous cellular immunotherapy indicated for the treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer. PROVENGE is intended solely for autologous use and is not routinely tested for transmissible infectious diseases.
The safety evaluation of PROVENGE was based on 601 prostate cancer patients in four randomized clinical trials who underwent at least one leukapheresis. The most common adverse events (incidence greater-than or equal to 15%) are chills, fatigue, fever, back pain, nausea, joint ache, and headache. Serious adverse events reported in the PROVENGE group include acute infusion reactions (occurring within 1 day of infusion) and cerebrovascular events. In controlled clinical trials, severe (Grade 3) acute infusion reactions were reported in 3.5% of patients in the PROVENGE group. Reactions included chills, fever, fatigue, asthenia, dyspnea, hypoxia, bronchospasm, dizziness, headache, hypertension, muscle ache, nausea, and vomiting. No Grade 4 or 5 acute infusion reactions were reported in patients in the PROVENGE group.
To fulfill a post marketing requirement and as a part of the company's ongoing commitment to patients, Dendreon will conduct a registry of approximately 1,500 patients to further evaluate a small potential safety signal of cerebrovascular events. In four randomized clinical trials of PROVENGE in prostate cancer patients, cerebrovascular events were observed in 3.5% of patients in the PROVENGE group compared with 2.6% of patients in the control group.
For more information on PROVENGE, please see the full prescribing information at http://www.provenge.com or call 1-877-336-3736.
Dendreon Corporation is a biotechnology company whose mission is to target cancer and transform lives through the discovery, development, commercialization and manufacturing of novel therapeutics. The Company applies its expertise in antigen identification, engineering and cell processing to produce active cellular immunotherapy (ACI) product candidates designed to stimulate an immune response in a variety of tumor types. Dendreon's first product, PROVENGE® (sipuleucel-T), was approved by the U.S. Food and Drug Administration (FDA) in April 2010. Dendreon is exploring the application of additional ACI product candidates and small molecules for the potential treatment of a variety of cancers. The Company is headquartered in Seattle, Washington, and is traded on the NASDAQ Global Market under the symbol DNDN. For more information about the Company and its programs, visit http://www.dendreon.com/.
Dendreon Names W. Thomas Amick President and Chief Executive Officer
Business Wire Dendreon Corporation 15 minutes ago
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Dendreon Corporation (DNDN) today announced that its board of directors has appointed W. Thomas Amick as president and chief executive officer, effective immediately. Mr. Amick has also been appointed to the Company?s board of directors. Mr. Amick succeeds John H. Johnson, who previously announced his plans to step down as president and chief executive officer for personal reasons. Mr. Johnson will work with Mr. Amick through August 15, 2014 to ensure a smooth transition.
Mr. Amick brings to Dendreon significant experience within the pharmaceutical and life sciences industry. Most recently from 2010 to 2012, he served as chairman and chief executive officer of Discovery Labs, a specialty biotechnology company. Under his leadership, Discovery Labs was granted approval for Surfaxin, the first synthetic lung surfactant approved for use in premature infants. Prior to that, Mr. Amick enjoyed a highly successful 30-year career with Johnson & Johnson where, as vice president of the Ortho Biotech Oncology Franchise, he launched Procrit® (epoetin alfa) and built J&J?s oncology franchise into a multi-billion dollar operation, making Procrit the most successful product in J&J history at the time. Mr. Amick also previously held positions as president of Ortho Biotech Europe, president of Janssen-Ortho Canada, and vice president of J&J Development Corporation (the venture capital division of J&J).
?Tom?s appointment is the result of a thorough search process,? said Douglas G. Watson, chairman of the board. ?We believe that Tom?s leadership experience and oncology product expertise make him an excellent fit for Dendreon.?
?I have a great passion and respect for Dendreon?s mission of transforming the lives of patients through the discovery, development and commercialization of innovative cancer treatments,? said Mr. Amick. ?I believe that PROVENGE is a unique immunotherapy treatment and look forward to working with the Dendreon team.?
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