Kosan Biosciences Inc. is being snatched up by Bristol-Myers Squibb Co. for $5.50 per share, becoming the latest acquisition as big pharma struggles to fill dwindling pipelines. (BioWorld Today)

Sonus Pharmaceuticals Inc., which has fought to rebuild shareholder value following the failure of lead drug Tocosol Paclitaxel in a pivotal Phase III trial in September, is bolstering its clinical pipeline with the acquisition of Canadian biotech OncoGenex Technologies Inc. (BioWorld Today)

Their first collaborative effort in the hepatitis C virus space has spawned a promising Phase IIa-stage protease inhibitor, so Medivir AB and Tibotec BVBA are joining forces again in a potential €277 million (US$430 million) HCV deal aimed at developing polymerase inhibitors targeting NS5B. (BioWorld Today)