FDA finds Amgen biosimilar replicates effects of Humira
The Food and Drug Administration said a new Amgen biosimilar replicates the effects of a competitor’s blockbuster drug July 8. ABP 501 replicates the effects of Humira, which is approved to treat nine conditions including rheumatoid arthritis, skin disorders and colon inflammation. The drug, made by Chicago-based competitor AbbVie, typically costs $20,000 per year for Read More →
Read More →Thousand Oaks City Manager Scott Mitnick fired
Thousand Oaks City Manager Scott Mitnick was fired July 7 after a six-hour, closed door City Council meeting which ended shortly before midnight. The City Council voted unanimously to terminate Mitnick, effective immediately. “We are heading in a different direction and remain focused on preparing our city for the future and continuing the great things Read More →
Read More →Ceres faces lawsuit over sale to Land ‘O Lakes
Thousand Oaks-based ag-biotech company Ceres Inc. is facing a lawsuit from shareholders angry about the company’s June 17 sale to Minneapolis-based Land ‘O Lakes. In the lawsuit, which was filed in state court in Los Angeles on July 5, three shareholders allege the company unfairly sold the company to Land ‘O Lakes for $17.6 million. Read More →
Read More →Europeans OK Amgen’s Kyprolis for multiple myeloma treatment
European regulators approved Amgen’s potential blockbuster drug Kyprolis on July 4 as a treatment for multiple myeloma. The European Commission approved a treatment of Kyprolis and dexamethasone in patients who’ve received at least one previous multiple myeloma treatment. In November, the commission approved a Kyprolis treatment using lenalidomide and dexamethasone for patients who’ve received at Read More →
Read More →Inphi sells memory product business for $90 million
Inphi sold its memory product business to Rambus for $90 million in cash June 30. The Santa Clara-based company, which designs chips aimed at packing more memory onto Internet servers and increasing bandwidth, employs a large engineering force in Thousand Oaks. The sale will allow it to focus on its communications business, Inphi said in Read More →
Read More →State budget to fund more UC campus startup incubators
Startups around the state got a boost with the stroke of Gov. Jerry Brown’s pen June 27 when he signed the state’s $171 billion budget. Included was $22 million earmarked for startup incubators at all 10 UC campuses. Assemblywoman Jacqui Irwin, D-Thousand Oaks, proposed the initiative, which will give $2 million every year for three Read More →
Read More →Tri-county stocks fall after Britain votes to exit EU
Stock prices for many companies headquartered in the Tri-Counties fell June 24 as investors reacted to Britain’s vote to leave the European Union. Thousand Oaks-based biotech giant Amgen dropped $5.82 or 3.82 percent. Two other companies based in Thousand Oaks, Teledyne and Inphi, saw stock prices decline $5.72 or 5.66 percent and $3.44 or 10.52 Read More →
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