Drug Sponsors

Aveo Oncology to restructure, cut workforce 62%

Friday, June 7, 2013 01:47 PM

Aveo Oncology, a cancer therapeutics company, is restructuring to refocus its efforts and resources on the ongoing clinical development of tivozanib in colorectal and breast cancer, as well as advance key pipeline and preclinical assets. This restructuring is expected to extend the company's cash runway for at least two years, beyond anticipated data read-outs from ongoing trials of tivozanib and AV-203.

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Maxygen board to dissolve, liquidate company

Wednesday, June 5, 2013 01:42 PM

The board of biopharmaceutical company Maxygen has approved the liquidation and dissolution of the company, subject to shareholder approval, and plans to distribute all available cash to its shareholders after making reasonable provision for known and potential liabilities and other obligations of the company. Maxygen currently estimates the initial liquidating distribution to stockholders will be between $68.2 million and $69.6 million, or $2.45 to $2.50 per share.

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Fujifilm, Dr. Reddy's call off joint venture for generic drugs in Japan

Wednesday, June 5, 2013 01:37 PM

Healthcare company Fujifilm and India-based global pharmaceutical company Dr. Reddy's Laboratories have decided to terminate the Memorandum of Understanding (MoU) to enter into an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture in Japan.

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Sanofi discontinues development of two investigational compounds

Tuesday, June 4, 2013 10:00 AM

Sanofi, a global healthcare company, announced topline results of two phase III clinical studies of investigational compounds iniparib and otamixaban and, as a result, has announced it will discontinue both programs.

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UPM purchases Pfizer commercial manufacturing site

Monday, June 3, 2013 11:32 AM

UPM Pharmaceuticals, a Baltimore, Md.-based drug development and contract manufacturer, will acquire the 500,000-square-foot commercial manufacturing facility Pfizer currently operates in Bristol, Tenn.

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Amgen and Astellas announce Japan alliance

Wednesday, May 29, 2013 02:48 PM

Amgen, an independent biotechnology company, and Astellas Pharma, a Tokyo-based global pharmaceutical company, have entered into an alliance to provide new medicines to help address serious unmet medical needs of Japanese patients.

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GSK acquires Okairos, strengthens vaccines business

Wednesday, May 29, 2013 02:44 PM

GlaxoSmithKline (GSK), a research-based pharmaceutical and healthcare company, has acquired Okairos, a specialist developer of vaccine platform technologies, for approximately $325 million in cash.

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Pharmaxis reveals revised business plan, cuts 30% of workforce

Wednesday, May 29, 2013 12:27 PM

Pharmaxis, a specialty pharmaceutical company, has revised its business plan which delivers significant reductions in expenses and increases the focus on partnering strategies to grow the value of the company’s assets and reposition it for the future in the global respiratory drug market.

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Valeant Pharmaceuticals to acquire Bausch + Lomb

Tuesday, May 28, 2013 02:14 PM

Valeant Pharmaceuticals International, based in Quebec, will acquire Rochester, N.Y.-based Bausch + Lomb, the global eye health company, for $8.7 billion in cash.

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Covidien board approves separation of Pharma business, declares dividend of Mallinckrodt ordinary shares

Tuesday, May 28, 2013 08:00 AM

The board of directors of Covidien, a global provider of healthcare products, has approved the separation of the Pharmaceuticals business from the rest of Covidien.

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