Maker of Zevalin buys maker of Folotyn
Spectrum Pharmaceuticals Inc, the biotech firm that owns and makes the Zevalin therapeutic regimen for follicular non-Hodgkin's lymphoma, has undertaken a buyout of Allos Therapeutics Inc.
The move puts another lymphoma/oncology product in Spectrum's portfolio, that of Folotyn, a drug recently given US Food & Drug Administration approval for the treatment of relapsed or refractory peripheral T-cell lymphoma.
Spectrum had been trying to gain FDA approval for apaziquone for the treatment of advanced bladder cancer, but in Phase III trials the drug failed to convincingly meet its endpoints, so Spectrum looked elsewhere and bought out Allos.
In a statement, Rajesh C. Shrotriya, MD, Chairman, CEO and President of Spectrum Pharmaceuticals said, "For Spectrum, this acquisition adds another diversified source of revenue, accelerates the development of our hematology franchise, and affirms our commitment to becoming a leader in the treatment of lymphoma."
Source: Marketplayground
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