Protez Pharmaceuticals is being purchased by Novartis AG in a $400 million deal that could shift development of its broad-spectrum antibiotic into high gear. Company shareholders will net $100 million up front and $300 million upon meeting clinical milestones and obtaining regulatory approval. (BioWorld Today)

Vertex Pharmaceuticals Inc. is unloading two HIV protease inhibitors it helped develop in a $160 million deal with GlaxoSmithKline plc in which it agreed to sell rights to future royalties for Lexiva and Agenerase. (BioWorld Today)