Industry news

Investors warm toward Norwegian biotech with cancer innovation park

Cormac Sheridan / BioWorld

Norway’s Prime Minister Erna Solberg helped focus a spotlight on Norway’s emerging oncology cluster this week by performing the official opening of the Oslo Cancer Cluster Innovation Park, the first stage in an ambitious program to bring together in a single setting a critical mass in cancer research, education and cancer-related commercial biotechnology.

Drugs just don't get rejected much anymore, report says

Damian Garde / Fierce Biotech

Picking apart biopharma's protracted boom, analysts tend to focus on investors' ongoing appetite for risk, readily available early-stage funding and the vibe that getting drugs approved is simply much easier than it once was. Forbes, with the help of BioMedTracker, has run the numbers on that last point, finding that the FDA has been green-lighting new drugs at an escalating rate for the past few years.

FDA launches pilot to experiment with common, global submission format

Varun Saxena / FierceMedicalDevices

In a bid for regulatory convergence with other international regulators, the FDA announced it is looking for companies to participate in a pilot program involving the use of a common international format for regulatory submissions like 510(k)s and PMAs.

Moody's ups medical device industry rating to positive amid M&A, new products

Stacy Lawrence / Fierce Medical Devices

The typically conservative credit rating agency Moody's Investors Service has raised its outlook for the U.S. medical products and devices industry to positive from stable. The firm said it expects to see solid earnings growth over the next 12 to 18 months from the industry.

Soon-Shiong allies with PA biomedical centers to further genomic research

Nick Paul Taylor / Fierce Biotech IT

Billionaire entrepreneur Patrick Soon-Shiong has teamed up with a medical center and research institute to set up a precision cancer hub. The deal connects the Big Data and immuno-oncology companies in Soon-Shiong's burgeoning NantWorks conglomerate to an emerging center of genomic research and molecular medicine in Pennsylvania.

Big Pharma still a big deal for NJ economy, despite cost cuts

Carly Helfand / FiercePharma

Pharma has long boosted commercial real estate in New Jersey, with some of the world's biggest drugmakers calling the state home. And that's not changing anytime soon, a new report says--despite layoffs and consolidation moves.

Does China yuan devaluation mean more downbeat pharma earnings?

EJ Lane / FeircePharmaAsia

Multinational firms mostly saw downbeat earnings from China in the second quarter and cautiously hoped for better in the rest of the year--but a devaluation of the yuan last week adds a new negative twist.

The state of U.S. venture capital fundraising

PitchBook Blog

In anticipation of our upcoming Fundraising & Capital Overhang Report, we take a look at U.S. venture capital fundraising activity throughout the first half of the year, comparing it to yearly breakdowns of median and average fund sizes, average time between funds, and more.

Big Pharma, rejoice: China aims to speed up approvals for new meds

Emily Wasserman / FiercePharma

Relations between China and foreign drugmakers have been thawing for a while, with the country announcing late last year that it would toss out restrictive price caps and streamline drug approvals for U.S. companies. Now, China is throwing multinational drugmakers another bone with plans to reduce lengthy approval times for innovative drugs.

India, EU scramble to resolve drug ban so trade talks don't go down the drain

Eric Palmer / FeircePharma

When EU regulators banned about 700 products from India over concerns that clinical trials by an Indian CRO were flawed, it put an estimated $1 billion worth of Indian exports at risk. But Europe says it is sure the problems can be worked out after Indian Prime Minister Narendra Modi started playing tough by cancelling discussions over restarting trade negotiations