Ono Pharmaceutical Co., Ltd.Grey Market
Thu, Nov. 17, 12:11 PM
- Prompted by political pressure related to its over-stretched healthcare budget, Japanese authorities have cut the price of Bristol-Myers Squibb's (BMY +1.3%) blockbuster cancer med Opdivo by 50% more than a year ahead of its regularly scheduled once-every-other year price review. The annual cost per patient will be ~$160K compared to the current cost of $320K.
- The in-country price was bullish to begin with, running twice as much as the U.S. and five times more than the UK.
- Distributor Ono Pharmaceutical (OTC:OPHLF)(OTCPK:OPHLY) is down 2% on the news since Opdivo accounts for $1.2B in annual sales in Japan.
Dec. 19, 2014, 11:19 AM
- Gilead Sciences (GILD +1.1%) and Osaka, Japan-based Ono Pharmaceutical Company (OTC:OPHLF) (OTCPK:OPHLY) enter into an exclusive license agreement to develop and commercialize ONO-4059, Ono's oral Brutons tyrosine kinase (BTK) inhibitor, for the treatment of B-cell malignancies and other diseases.
- Under the terms of the agreement, Gilead will pay Ono an upfront fee plus development, regulatory and commercial milestones.
- Gilead will have exclusive rights to develop and commercialize ONO-4059 worldwide except Japan, South Korea, Taiwan, China and the ASEAN countries, where Ono retains development and commercialization rights.