Boston, MA 04\/28\/2014 (wallstreetpr) –\u00a0Novartis and GlaxoSmithKline have entered to exchange few of their assets depending upon their core areas of therapeutics that creates a doubt over the mutual agreement between Array Biopharma Inc (NASDAQ:ARRY)<\/b> and Novartis. However, Novartis has indicated that it will continue to go with Array-Novartis agreement and support the ongoing development of Array\u2019s binimetinib (MEK162).<\/p>\n
Array-Novartis agreement<\/b><\/p>\n
In April 2010, Array entered into an agreement with Novartis to provide an exclusive right to develop and commercialize binimetinib. As per the agreement, Novartis will provide support to develop ongoing trials of binimetinib if the exclusive rights returned to Array.<\/p>\n
Binimetinib, a small molecule, currently in Phase 3 stage of the development process, primarily intends to treat a variety of cancers, including skin, thyroid, ovarian and non-small cell lung cancer. Array expects that the product will launch in 2014.<\/p>\n
Cancer portfolio<\/b><\/p>\n
Array Biopharma Inc (NASDAQ:ARRY) is well known for the development of small molecules and has a strong portfolio of pipeline products to treat different types of cancers. Array is developing its products either owned (filanesib) or in partnering with global leading players like Novartis (binimetinib), AstraZeneca (selumetinib). Seven products are in advance (Phase 3) stages of development and are likely to launch in the market in next two years.<\/p>\n
Advances in development<\/b><\/p>\n
Array Biopharma Inc (NASDAQ:ARRY) continues to advance in clinical development and receives milestones from its Phase 3 candidates. The collaboration with Oncothyreon and Loxo Oncology and milestones received from AstraZeneca\u2019s Phase 3 candidate offset lower revenues incurred from licensing. Higher development cost of partnered programs has compressed the bottom line further. Array has the potential with the cash balance of $120 million as of December 31, 2013 to carry out its development activities.<\/p>\n
Conclusion<\/b><\/p>\n
The collaboration will continue to support Array Biopharma Inc (NASDAQ:ARRY)\u2019s potential and expects to receive revenues $19 million from collaboration in FY2014. The approval of Phase 3 candidates will further boost licensing revenues in coming years.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/28\/2014 (wallstreetpr) –\u00a0Novartis and GlaxoSmithKline have entered to exchange few of their assets depending upon their core areas of therapeutics that creates a […]<\/p>\n","protected":false},"author":12,"featured_media":20447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[2719,2720],"stock_ticker":[],"class_list":["post-20442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-array-biopharma-inc-nasdaqarry","tag-nasdaqarry","entry"],"acf":[],"yoast_head":"\n