PhIII flop for top Boston cancer stem cell program batters Dainippon Sumitomo

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Anonymous

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I swear this company has a HUGE dark black cloud above it at all times. From the time Jay Smith - Present this place has done nothing right and just gone straight downhill from every possible perspective and angle. Nothing good or productive has come out of this place since that time not to mention how many careers/lives that were displaced due to the business decision that were forced to be made. Now you just paid $200 million for what seems to be a complete waste. Well done executive team. Well done on the 2013/14 revenue as well.


Two years ago, Dainippon Sumitomo inked a blockbuster $2.6 billion deal to buy Boston Biomedical, including a $200 million upfront payment. The prize catch in the deal was the promising BBI608, on the cutting edge of a new wave of therapies designed to target durable cancer stem cells. And as investigators pushed into Phase III for colorectal cancer, the Japanese parent installed Boston Biomedical in new digs in Cambridge, MA, last year.

But over the long holiday weekend Dainippon Sumitomo's shares took a beating--dropping 21% at one point, according to Bloomberg--as investors reacted to the news that BBI608 proved to be a dud in its most advanced trial for colorectal cancer. An independent monitoring board suggested that any further enrollment to the study should be stopped as the oral drug, used as a monotherapy, failed to clear an efficacy hurdle in the first interim analysis involving 97 patients.

The setback casts a pall over other biotechs operating in the same cancer stem cell field, including Verastem ($VSTM).

Read more: PhIII flop for top Boston cancer stem cell program batters Dainippon Sumitomo - FierceBiotech http://www.fiercebiotech.com/story/...s-dainippon-sumitomo/2014-05-27#ixzz332Paf7A1
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No surprise here...it was stated over and over again in previous posts that their proof of concept data was non-existent.

The problem was all about timing... DSP was late, SUPER LATE to the party for oncology. Every other mid-sized and large-sized pharma company scooped up all the oncology assets from 2005 to 2008 while DSP decided to buy Sepracor for it's sales force for 2.3 billion dollars, and after that DSP was cash poor and stuck on Latuda to make things right on their profit margin. But Latuda will be dead in 2018 because of LOE on it's primary patent and so cash will be a problem 4 years from now.

Japanese companies have always been short sited when it comes to long term strategies, and they are also FANTASTICALLY terrible at making decisions, ANY decisions.

Eventually DSP panicked and purchased BBI after dozens and dozens of other pharma companies passed on BBI because the proof of concept data was nil, zilch, zippo. DSP gambled big and lost. Now they will dig and dig on the other BBI assets hoping for a winner but none will surface.

So don't take any DSP folks with you to the casino...they don't win, gamble big, they loose big, then drink the night away and fall asleep in meetings all day.
 








A week ago ago I interviewed and the statement made constantly was

" WE NEED TO SHORTEN THE TIME LINE" "WE NEED TO SHORTEN THE GAP OF ACCEPTANCE"

So one month in and "the sky is falling"

Yea I will pass, this is the hurrah that creates the last hurrah
 








Fall will be coming soon. Time to ramp up the Ciclesonide sales force--Alvesco, Omnaris, and Zetonna. No, wait.............I just received an email saying that my Omnaris $17 co pay card would no longer be honored at the end of June. I wonder who else has a great copay card for their product?
 








Anonymous said:
I swear this company has a HUGE dark black cloud above it at all times. From the time Jay Smith - Present this place has done nothing right and just gone straight downhill from every possible perspective and angle. Nothing good or productive has come out of this place since that time not to mention how many careers/lives that were displaced due to the business decision that were forced to be made. Now you just paid $200 million for what seems to be a complete waste. Well done executive team. Well done on the 2013/14 revenue as well.


Two years ago, Dainippon Sumitomo inked a blockbuster $2.6 billion deal to buy Boston Biomedical, including a $200 million upfront payment. The prize catch in the deal was the promising BBI608, on the cutting edge of a new wave of therapies designed to target durable cancer stem cells. And as investigators pushed into Phase III for colorectal cancer, the Japanese parent installed Boston Biomedical in new digs in Cambridge, MA, last year.

But over the long holiday weekend Dainippon Sumitomo's shares took a beating--dropping 21% at one point, according to Bloomberg--as investors reacted to the news that BBI608 proved to be a dud in its most advanced trial for colorectal cancer. An independent monitoring board suggested that any further enrollment to the study should be stopped as the oral drug, used as a monotherapy, failed to clear an efficacy hurdle in the first interim analysis involving 97 patients.

The setback casts a pall over other biotechs operating in the same cancer stem cell field, including Verastem ($VSTM).

Read more: PhIII flop for top Boston cancer stem cell program batters Dainippon Sumitomo - FierceBiotech http://www.fiercebiotech.com/story/...s-dainippon-sumitomo/2014-05-27#ixzz332Paf7A1
Subscribe at FierceBiotech
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Oh man... My DM told me that selling Brovana is a lot like selling in oncology and that I would have a great shot (along with many other Brovana specialists) of jumping to the oncology sales force once the colorectal oncology med was approved. Shucksters!! I stayed here in the hopes of jumping to oncology. Guess that's not going to be happening now.
 




Anonymous said:
Oh man... My DM told me that selling Brovana is a lot like selling in oncology and that I would have a great shot (along with many other Brovana specialists) of jumping to the oncology sales force once the colorectal oncology med was approved. Shucksters!! I stayed here in the hopes of jumping to oncology. Guess that's not going to be happening now.
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Riiggghhttt!
 




Other than Lunesta and Xopenex what other decent drug has come out of this place since it was created back in the 80's? Bigger is not always better. Any newer (people) is not always better.

I could think of 10 things off of the top of my head that would have made this place a much more profitable and successful pharma company. What a complete waste.
 




Anonymous said:
Other than Lunesta and Xopenex what other decent drug has come out of this place since it was created back in the 80's? Bigger is not always better. Any newer (people) is not always better.

I could think of 10 things off of the top of my head that would have made this place a much more profitable and successful pharma company. What a complete waste.
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Soltara and your an idiot.
 




















Anonymous said:
Soltara and your an idiot.
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Exactly my point moron. They "sold" the best drug candidate in the history of the company for FRACTIONS of cents on the dollar. If they would have made the right decision to keep the molecule the revenue generated would have been well over 10 billion in the patent life of the drug. Instead they probably for 500 million in royalties. You just proved my point for me with yet another example of this horrible place! Your lack of insights is why you still deserve to be here.
 




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