Genzyme Corp. entered an agreement to acquire SangStat Medical Corp. for about $600 million in cash, or $22.50 per outstanding share, thus gaining a marketed product for organ rejection plus a pipeline regarded by both companies as complementary.(BioWorld Today)
"Controlled release" might sound like a judicial arrangement for the handling of small-time criminals who've paid their dues, but in drug development, of course, it means something else - referring loosely to the manufacture of longer-lasting versions of marketed compounds.
As expected, Amgen Inc. and Wyeth Pharmaceuticals won marketing clearance from the FDA for Enbrel (etanercept) against ankylosing spondylitis, or arthritis of the spine. (BioWorld Today)
About five months after curtailing its gene therapy efforts in favor of other programs, Cell Genesys Inc.'s move has paid off in the form of a $28.5 million deal with Novartis AG to develop oncolytic virus products. (BioWorld Today)
The granddaddy of all cancer meetings - of all scientific meetings, many agree - came and went earlier this year, when the American Society of Clinical Oncology held its annual convergence in Chicago. (BioWorld Financial Watch)
Pursuant to last November's shelf registration, Lexicon Genetics Inc. said it plans to sell 10 million shares of stock, which, based on Tuesday's closing price of $7, would raise $70 million. (BioWorld Today)
Gone are the days when a dollop of good news in any area of biotechnology lit a fire under stocks across the sector. Investors, having become at least somewhat more sophisticated, have narrowed their scrutiny to individual companies or platforms.
