Ipsen’s partner Lexicon announced at the 2015 Neuroendocrine Tumor Society Annual Symposium (Austin, Texas) that telotristat etiprate was associated with patient-reported improvements in social and physical function and emotional well-being according to new exit interview data from the Phase 3 TELESTAR study in cancer patients whose carcinoid syndrome was not adequately controlled by somatostatin analog (SSA) therapy.

On October 19, 2015 Lexicon Pharmaceuticals, Inc.’s (Nasdaq: LXRX) reported that its telotristat etiprate, the first oral therapy in development for the treatment of carcinoid syndrome (CS), was associated with patient-reported improvements in social and physical function and emotional well-being according to new exit interview data from the Phase 3 TELESTAR study presented at the 2015 Neuroendocrine Tumor Society Annual Symposium in Austin, Texas (Press release, Ipsen, OCT 19, 2015, View Source [SID:1234507752]).

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Telotristat etiprate, Lexicon’s most advanced product candidate, met the TELESTAR study’s primary endpoint with clinically meaningful reductions in bowel movement frequency in cancer patients whose carcinoid syndrome was not adequately controlled by somatostatin analog (SSA) therapy. New data released from interviews with participating patients who completed the randomized treatment portion of the TELESTAR study demonstrated that these reductions were meaningful to those patients and led to improvements in social and physical function and emotional well-being.

"Many patients with metastatic neuroendocrine tumors are now able to live longer lives. Unfortunately, uncontrolled carcinoid syndrome often makes daily life difficult for those patients," said Pablo Lapuerta, M.D., Lexicon Executive Vice President and Chief Medical Officer. "We are pleased that these patient-reported experiences suggest that telotristat etiprate may offer a meaningful benefit to the quality of life of those patients."

Carcinoid syndrome is a rare disease affecting thousands of cancer patients with metastatic neuroendocrine tumors that have spread to the liver and other organs from the gastrointestinal tract. The condition is characterized by frequent and debilitating diarrhea, facial flushing, abdominal pain, fatigue and other serious consequences that prevent patients from leading active, predictable lives. ,

About the Exit Interview Study

TELESTAR clinical sites in five countries (Australia, Canada, England, Germany, and the United States) invited patients prior to enrollment in the TELESTAR study to participate in a blinded, qualitative telephone exit interview upon conclusion of the randomized treatment portion of the study. A total of 35 patients from 16 clinical sites participated in the TELESTAR exit interview study and interviews were conducted with participating patients between weeks 12 (end of double-blind treatment phase) and 14 (open-label extension).

Participating patients were interviewed about baseline symptoms and clinical trial experiences. Participants were also asked about the most important and most bothersome symptoms of CS and their daily impact, as well as about symptom improvement and its importance. Interview data were analyzed with standard qualitative methods using field notes and interview transcripts to examine the responses to questions and changes in BM frequency.

Participants reported experiencing a large number of CS symptoms before initiating the TELESTAR study. Of these, diarrhea (n = 17), bowel movement (BM) frequency (n = 9), and urgency (n = 5) were consistently identified as the most bothersome and important symptoms of CS. The most frequently reported daily impact of these symptoms was patients’ inability to engage in social or physical activities or hobbies, followed closely by the emotional impact of CS symptoms.

According to the exit interview data, participating patients treated with telotristat etiprate noted a reduction in BM frequency, which they characterized as the most bothersome symptom of CS.

"Ninety-five percent of participants – 20 out of 21 – who reported reductions in bowel movement frequency said this reduction was meaningful to them and allowed them to better enjoy life, leave the house, and participate in social and other activities," said the poster’s lead author, Lowell Anthony, M.D., FACP, Chief, Division of Medical Oncology at University of Kentucky Markey Cancer Center in Lexington. "This response is very encouraging."

Furthermore, among the 33 participants (placebo:250:500 = 9:9:15) answering the interview question about treatment satisfaction, 55 percent across all arms reported being somewhat or very satisfied with the treatment they received during TELESTAR, with a correlation (R = 0.66, p < 0.001) between reported change in BM frequency and treatment satisfaction. Reports of "very satisfied" were none (0/9) on placebo and 50 percent (12/24) on telotristat etiprate, with similar results in the two telotristat etiprate dosage groups.

About the TELESTAR Study

The exit interviews followed the randomized treatment portion of the TELESTAR Phase 3 study, which enrolled 135 patients with carcinoid syndrome that was not adequately controlled on SSA therapy, the current standard of care. The three-arm study evaluated two doses of oral telotristat etiprate – 250 mg and 500 mg, each taken three times daily – against placebo over a 12-week period and measured the reduction from baseline in the average number of daily bowel movements. Patients in both the treatment and placebo arms continued their SSA therapy throughout the study.

Also during the Symposium, TELESTAR primary investigator, Matthew H. Kulke, M.D., provided an oral presentation, entitled "Results of TELESTAR: A Phase 3, Randomized, Placebo-controlled, Double-blind Study to Evaluate the Efficacy and Safety of Telotristat Etiprate in Patients with Carcinoid Syndrome Not Adequately Controlled by Somatostatin Analog."

Data showed that patients who added telotristat etiprate to the standard of care at both the 250 mg and 500 mg doses experienced a statistically significant reduction from baseline compared to placebo in the average number of daily bowel movements over the 12-week study period (p < 0.001), meeting the study’s primary endpoint.

Patients who received 250 mg of telotristat etiprate experienced a reduction of 1.71 bowel movements (29 percent) in the average number of daily bowel movements during the final week of the study compared to baseline, and those in the 500 mg arm experienced a reduction of 2.11 bowel movements (35 percent); the placebo group showed a reduction of 0.87 bowel movements (17 percent). The 12-week study period is being followed by a 36-week open-label extension where all patients receive telotristat etiprate 500 mg three times daily.

About Telotristat Etiprate

Discovered using Lexicon’s unique approach to gene science, telotristat etiprate is the first investigational drug in clinical studies to target tryptophan hydroxylase, an enzyme that triggers the excess serotonin production within metastatic neuroendocrine tumor cells that leads to carcinoid syndrome. While existing treatments for carcinoid syndrome work to reduce the release of serotonin outside tumor cells, telotristat etiprate works at the source to reduce serotonin production within the tumor cells. By specifically inhibiting serotonin production, telotristat etiprate seeks to control this important driver of carcinoid syndrome and, in turn, provide patients with more control over their disease.

Lexicon retains rights to market telotristat etiprate in the U.S. and Japan, and is building the in-house commercial infrastructure to serve the U.S. market. Lexicon has a license and collaboration agreement with Ipsen to commercialize telotristat etiprate in Europe and other countries outside the U.S. and Japan.

8-K – Current report

On October 19, 2015 Varian Medical Systems (NYSE:VAR) reported that it expects to report lower earnings for fiscal year 2015 than was previously guided in its earnings report for the third quarter of the fiscal year (Filing, 8-K, Varian Medical Systems, OCT 19, 2015, View Source [SID:1234507739]). The company now expects non-GAAP net earnings will be approximately $4.29 per diluted share and that GAAP net earnings will be approximately $4.09 per diluted share. The company continues to expect that revenues for the year will grow by about 2 percent, or 6 percent on a constant currency basis. These preliminary results are subject to revision due to the completion of the company’s financial closing procedures, final adjustments and other developments that may arise between the date of this press release and the time that the company reports its full fiscal year results on October 28, 2015.

"Several TrueBeams and related software slipped out of the quarter contributing to a shortfall in high-margin revenues for our Oncology Systems business," said Dow Wilson, CEO of Varian Medical Systems. "The earnings shortfall was partially offset by an approximately one-point drop in the projected annual tax rate."

Oncology Systems fourth quarter gross orders are expected to be equal with the strong prior year period and up about 5 percent in constant currency. For fiscal year 2015, Oncology gross orders are expected to be equal with the prior year, and up 6 percent in constant currency. Compared to the corresponding prior year periods, Imaging Components gross orders are expected to decline by about 30 percent for the fourth quarter and by about 16 percent for the fiscal year. Imaging Components sells almost exclusively in dollars. The fourth quarter results should also include proton gross orders totaling about $140 million for three centers. The year-ending backlog for the company is expected to be
$3.5 billion, up 10 percent from the year-ago period.

With the orders growth in the Oncology and Proton businesses partially offset by ongoing challenges in the Imaging Components business, the company expects revenues for fiscal year 2016 to grow in the range of 4 to 5 percent on a reported basis. The company’s non-GAAP net earnings for fiscal year 2016 should be in the range of $4.45 to $4.55 per diluted share. The company will begin to report non-GAAP results in the fourth quarter of fiscal year 2015.

Non-GAAP results will exclude amortization of intangible assets, acquisition-related costs and benefits, restructuring charges, impairment charges, significant litigation charges or benefits and associated legal costs. This will enable the company to evaluate performance on an operational basis; provide quarter-over-quarter comparisons excluding unusual items; show better comparability among company peers and provide additional transparency to the financial community.

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Varian Medical Systems Announces Preliminary Results for Fiscal Year 2015

Fourth Quarter and Fiscal Year 2015 Earnings Report
Results for the fourth quarter of fiscal year 2015 will be released following the close of regular trading on Wednesday, October 28, 2015. The news release will be followed by a teleconference available to all interested parties at 2:00 p.m. PT. The news release and a link to the conference call webcast will be available on the company website at: View Source To access the teleconference call and replay:

· Teleconference: Access from within the U.S. by dialing 1-877-869-3847, and from outside the U.S. by dialing 1-201-689-8261.

· Replay: Access from within the U.S. by dialing 1-877-660-6853 and from outside the U.S. by dialing 1-201-612-7415, and enter conference ID 13619357. The teleconference will be rebroadcast until 8:00 p.m. ET, Friday, October 30, 2015.

· Webcast: Visit the company website at: www.varian.com/investor and click on the link for Fourth Quarter Earnings Results under Investor Highlights. Web conferences will be archived on the company website for a year.

Varian management also will host its ASTRO investor meeting and webcast this Tuesday, October 20th at the annual meeting of the American Society for Radiation Oncology. The investor meeting in the Texas Ballroom at the Grand Hyatt San Antonio, 600 E. Market St. will begin with breakfast at 7:00 a.m. CT with the webcast presentations beginning at 7:30 a.m. followed by a tour of the Varian booth at 9:00 a.m. The webcast can be accessed at View Source Management presentations will focus on innovations and advancements in the treatment and technology for radiotherapy, radiosurgery and proton therapy. Discussion on the financial performance of the company will be deferred until the earnings report on October 28th.

Valeant Pharmaceuticals Reports Third Quarter 2015 Financial Results

On October 19, 2015 Valeant Pharmaceuticals reported Third Quarter 2015 Financial results Results (Press release, Valeant, OCT 19, 2015, http://ir.valeant.com/investor-relations/news-releases/news-release-details/2015/Valeant-Pharmaceuticals-Reports-Third-Quarter-2015-Financial-Results/default.aspx [SID:1234507738]).

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2015 Third Quarter Results

Total Revenues of $2.8 billion; an increase of 36% over the prior year despite negative foreign exchange impact of $172 million
Same store sales organic growth of 13%; 5th consecutive quarter of > 10% organic growth, driven by:
Continued outperformance of U.S. businesses, particularly dermatology and contact lens
Strong results in China (23%), South Korea (15%) and Mexico (10%)
Total company growth was 8.2% volume and 4.4% price
U.S. branded pharmaceuticals growth was 18.8% volume and 15.2% price
Excluding the impact from genericization of Targretin Capsules during the quarter, same store sales organic growth would have been 14%

Impact from generic Xenazine expected fully in fourth quarter
Salix revenue was $461 million
Strong Xifaxan script uptake following IBS-D approval
Salix wholesaler inventory levels reduced from 3-3.5 months to 2-2.5 months
GAAP EPS $0.14; Cash EPS $2.74, an increase of 30% over prior year despite the negative foreign exchange impact of $0.13 versus the prior year
GAAP Operating Cash Flow $737 million, an increase of 19% over prior year; excluding the impact of foreign exchange, the increase was 26%
Adjusted Operating Cash Flow $865 million, an increase of 12% over prior year; excluding the impact of foreign exchange, the increase was 18%
Deals recently closed include Sprout, brodalumab, Synergetics and Amoun, which is expected to close later today

Fourth Quarter 2015 Guidance

Total Revenue increased to $3.25 – $3.45 billion from $3.2 – $3.4 billion
Cash EPS increased to $4.00 – $4.20 from $3.98 – $4.18

Full Year 2015 Guidance

Total Revenue increased to $11.0 – $11.2 billion from $10.7 – $11.1 billion,
Salix revenue expected to be ~$1.35 billion
Cash EPS increased to $11.67 – $11.87 from $11.50 – $11.80
Adjusted Cash Flow from Operations of greater than $3.35 billion
Same Store Sales Organic Growth of >10% for Q4 and FY 2015

METASTASIS WORKSHOP 2015

On October 19, 2015 Cancer Research Technology (CRT) and the CRUK Centre for Drug Development (CRUK CDD) reported they hosted a workshop to discuss the complexities and opportunities within anti-metastatic drug development (Press release, Cancer Research Technology, OCT 19, 2015, View Source [SID1234523511]).

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"Metastases of tumours to distal sites are frequently associated with poor patient prognosis and there is an urgent requirement for novel treatment strategies. Substantial efforts are being made to develop novel agents, with Cancer Research UK funding, that target tissue invasion and metastasis. Several projects have been successful and agents have been identified with robust pre-clinical data. However, progress for the clinical development of these agents is hindered by the lack of appropriate clinical trial paradigms to evaluate these agents, with robust endpoints and furthermore engagement of the pharmaceutical industry is limited. Conversely, despite these challenges, the benefits to the cancer patient that could potentially be achieved are considerable." Dr Christopher Ireson, project development manager, CRT.

Chaired by Dr Pat Steeg (US National Cancer Institute) and Dr Rob Jones (Glasgow University), the workshop included national and international experts from industry, academia and regulatory sectors. Discussions covered topics ranging from discovery science, preclinical model systems and biomarker development, through to clinical trial and regulatory strategies, and potential pathways to market.

‘A clear message from this workshop is that we face a huge breadth of challenges within this field, but an equivalent scope to make a real impact on patient survival. By establishing this multi-disciplinary collaborative effort, we have taken the first practical steps in building a consensus development strategy for experimental medicines that have an anti-metastatic mechanism of action.’ Dr James Ritchie, drug development scientist, CRUK CDD.

With approximately 35 participants from three continents, key questions and challenges were addressed thanks to the diverse skill set of the participants. The next steps for the recently formed consortium include refinement of the concepts discussed at the workshop and publication of recommendations in an international journal in 2016.

Celator® Pharmaceuticals Announces Positive Recommendation From Data And Safety Monitoring Board For Phase 3 Study Of CPX-351 (VYXEOS™)

On October 19, 2015 Celator Pharmaceuticals, Inc. (NASDAQ: CPXX) trepported that the independent Data and Safety Monitoring Board (DSMB) for the Company’s Phase 3 clinical study of CPX-351 (cytarabine:daunorubicin) Liposome for Injection (now referred to as VYXEOS) has completed the final pre-planned safety review of all patients and has again recommended the study continue as planned without any modifications (Press release, Celator Pharmaceuticals, OCT 19, 2015, View Source [SID:1234507737]).

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The Phase 3 study compares VYXEOS versus the conventional cytarabine and daunorubicin treatment regimen (commonly referred to as 7+3) as first-line therapy in older patients with high-risk (e.g. secondary) acute myeloid leukemia (AML). The primary endpoint for the study is overall survival, which the company expects to report in the first quarter of 2016.

"Our confidence in the safety profile of VYXEOS is further strengthened with each positive DSMB recommendation," said Arthur Louie, Chief Medical Officer of Celator Pharmaceuticals. "The conduct of the Phase 3 study has gone remarkably well, having achieved each milestone on time or ahead of schedule. This final confirmation of safety for the Phase 3 study is a major step in the development of VYXEOS for patients with poor prognosis AML."

The Phase 3 study is being conducted in partnership with The Leukemia & Lymphoma Society (LLS) through its Therapy Acceleration Program (TAP), which has supported the clinical development of VYXEOS beginning in Phase 2.

Additional Information about the Phase 3 Study

The study (Protocol NCT01696084) enrolled 309 patients between the ages of 60 and 75 who have pathological diagnosis of high-risk AML according to WHO criteria with confirmation of:

Therapy-related AML,
AML with a history of myelodysplasia (MDS),
AML with a history of chronic myelomonocytic leukemia (CMMoL), or
De novo AML with karyotypic abnormalities characteristic of MDS.

Patients were randomized 1:1 to receive either VYXEOS (100u/m2; days 1, 3, and 5 by 90 minute infusion) or 7+3 (cytarabine 100mg/m2/day by continuous infusion for 7 days and daunorubicin 60mg/m2 on days 1, 2, and 3). Patients are monitored for all clinical adverse events as well as laboratory evaluations. The study is being conducted in the United States and Canada.