BioMarin Pharmaceutical Inc. agreed to pay up to $289 million for worldwide, ex-Asia Pacific rights to La Jolla Pharmaceutical Co.'s Riquent, despite the lupus drug's checkered past that includes Phase III failures, lost partners and regulatory setbacks. (BioWorld Today)

The year 2008 in biotechnology will be remembered as one of survival, including restructurings and layoffs at more than 80 companies, executive pay-cuts and resignations, discontinued programs, and lots of asset monetization and creative financing. (BioWorld Financial Watch)