Dr. Reddy’s Agrees With Citius Pharma To Sell Rights To Anti-cancer Agent E7777
Dr. Reddy’s Laboratories Ltd. (RDY) announced that it has agreed with Citius Pharmaceuticals, Inc. to sell all of its rights to E7777, an engineered IL-2-diphtheria toxin fusion protein, and certain related assets.
Under deal terms, Dr. Reddy’s said it will get $40 million upfront upon the closing of the transaction, followed by approval milestone payment of up to $40 million related to the CTCL or cutaneous T-cell lymphoma indication approval and up to $70 million for additional indication approvals.
Further, Dr. Reddy’s stated that it will receive certain sales-based milestones and tiered earn-out payments.
Bestselling Author Slams Texas’ ‘War Against Women’ In Damning New Video
Bestselling author Don Winslow rips Texas’ extreme new anti-abortion law as a “war against women” in a new viral video seen more than 1.1 million times in its first 10 hours on Twitter alone.
“This is madness, the same people who have been protesting and screaming, ‘My body, my choice’ when it comes to the COVID vaccine are now saying I don’t have any control over my own body,” says the narrator of the spot released online Friday.
The clip takes aim at the new legislation outlawing abortions after six weeks after conception, even if the pregnancy was a result of a rape or incest. It also calls out the bounty system encouraging people to snitch on illegal abortions.
Winslow shared the clip, his latest calling out GOP hypocrisy, on Friday.
“They are waging a war against women,” he captioned the video, alongside the hashtag #TexasWarOnWomen.
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MSNBC’s Joy Reid Busts A Big Myth Republicans Tell Themselves About Their Party
MSNBC’s Joy Reid dedicated her “Absolute Worst” segment on Friday to explaining why the GOP is anything but the pro-life party, despite its claims.
“The ReidOut” anchor referenced Texas’ extreme new anti-abortion law, Republican opposition to COVID-19 mask mandates, GOP voter resistance to receiving the coronavirus vaccine and the party’s anti-environment policies to make her point.
“You can’t call yourself a pro-life party if your policy goals are to allow the maximum number of people to die of COVID, including children, by banning mask mandates in businesses and schools and raising doubts about vaccines,” she said.
“You can’t call yourself the pro-life, pro-family party if your policy goals are to put bounties on pregnant women and to force teenage girls to give birth after getting pregnant as a result of incest and rape,” Reid added.
“The Republican Party is a lot of things; anti-democracy, anti-voting, anti-history, anti-facts, deeply opposed to anti-racism. What they are not is pro-life, she concluded, saying it’s now “loudly and proudly the pro-death party.”
Watch Reid’s monologue here:
Dr. Reddy’s selling anti-cancer agent to Citius Pharma
Set to receive $40 million upfront, approval milestone payment of upto $40 million later
Dr. Reddy’s Laboratories has entered into a definitive agreement with Citius Pharmaceuticals Inc pursuant to which it sold all rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.
In March 2016, it had acquired the exclusive global rights, excluding Japan and Asia, to the investigational anti-cancer agent E7777 from Eisai Co.
Under the agreement with Citius, Dr. Reddy’s will receive $40 million upfront on closing of the transaction followed by approval milestone payment of upto $40 million related to the CTCL (cutaneous T-cell lymphoma) indication approval and upto $70 million for additional indication approvals. Further, it will receive certain sales-based milestones and tiered earn-out payments, the Hyderabad-based drugmaker said in a release on Saturday.
E7777 has significant potential as an important component of systemic therapy for CTCL and other cancers. After acquiring it from Eisai, significant progress was made on the CTCL development front, CEO Erez Israeli said. “We are confident of Citius’ ability to realize the full potential of E7777 in the treatment of CTCL as well as in their ability to develop this promising drug for additional oncology and immuno-oncology indications,” he said.
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Canadian Pacific Welcomes Re-engagement With KCS Board
Canadian Pacific Railway (CP.TO,CP) said it is ready to re-engage with the Kansas City Southern (KSU) Board of Directors following its determination that CP’s revised offer to acquire KCS in a cash and stock transaction at $300 per KCS share can reasonably be expected to lead to a “Company Superior Proposal.”
KCS said it intends to engage in discussions with CP with respect to CP’s proposal, subject in each case to the requirements of the CN merger agreement.
In addition, KCS notes that there can be no assurance that the discussions with CP will result in a transaction.
In May, KCS entered into a definitive agreement with Canadian National Railway Company (CNR.TO, CNI), under which CN agreed to acquire KCS in a stock and cash deal valued at $325 per KCS share.