Stemline takeout gives Menarini U.S. oncology beachhead

Although Menarini will gain a modest-selling drug by acquiring Stemline for up to $677 million, the Italian biopharma will also establish a U.S. oncology presence as its cancer pipeline matures.

The deal gives Menarini Group rights to Elzonris tagraxofusp-erzs, the first FDA-approved therapy for rare disease blastic plasmacytoid dendritic cell neoplasm. The agency approved the drug in December 2018; it is a CD123-targeting agent linked to a truncated diphtheria toxin payload...