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AB-Biotics, GSK sign agreement to promote Neurofarmagen test in Brazil

Friday, March 22, 2013 04:01 PM

GlaxoSmithKline (GSK) and the Spanish biotech company AB-Biotics, have reached an agreement by which GSK will handle the exclusive promotion of Neurofarmagen, the line of pharmacogenetic tests developed by AB-Biotics.

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NeuroSearch to update its strategy, reduce staff

Wednesday, March 20, 2013 09:39 AM

NeuroSearch’s transfer of the Huntexil project to Teva Pharmaceutical Industries is now so advanced that the company foresees a significant reduction in the activity level in the near future. Therefore, NeruoSearch will take measures to adjust the organization to the lower activity level and at the same time update its company strategy.

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Affymax cuts 75% of employees in midst of ongoing product investigation

Tuesday, March 19, 2013 03:34 PM

Palo Alto, Calif.-based Affymax will reduce its workforce as part of a plan to focus the company's resources on the ongoing investigation of reported hypersensitivity reactions in patients receiving Omontys injection following the nationwide voluntary recall of the product from the market. Approximately 230 employees (or 75%) will be cut, including its commercial and medical affairs field organizations and other officers and employees.

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AstraZeneca to establish strategic R&D centers, cut or relocate 4,100 workers

Monday, March 18, 2013 02:12 PM

Global biopharmaceutical company AstraZeneca announced plans to invest in strategic R&D centers in the U.K., the U.S. and Sweden to improve pipeline productivity and to establish the company as a global leader in biopharmaceutical innovation.

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New Jersey to hire displaced pharmaceutical workers

Wednesday, March 13, 2013 02:08 PM

New Jersey has announced a financial hiring incentive to employers through the state Department of Labor and Workforce Development (LWD) if they hire and train former pharmaceutical industry employees. Employers willing to hire displaced pharmaceutical workers may reduce the cost to train new employees under this new on-the-job training program, which will reimburse each employer up to between 50% and 90% of a new hire’s salary for up to six months and a maximum of $14,000

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Astellas, Ambit terminate collaboration on FLT3 kinase inhibitors

Wednesday, March 13, 2013 10:39 AM

Tokyo-based Astellas Pharma and San Diego-based Ambit Biosciences will end their collaboration for the joint development and commercialization of FMS-like tyrosine kinase-3 (FLT3) inhibitors, including quizartinib, effective September 3, 2013.

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Shire acquires Premacure

Wednesday, March 13, 2013 09:41 AM

Global specialty biopharmaceutical company Shire has acquired Premacure, a Swedish privately held biotechnology company developing a protein replacement therapy, currently in phase II development for the prevention of retinopathy of prematurity (ROP).

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Galapagos and Roche conclude strategic alliance

Monday, March 11, 2013 10:38 AM

Galapagos, mid-size clinical stage biotechnology company, has agreed with Roche to end their alliance in fibrosis. Roche will make a payment of $975,000 to Galapagos for work completed in 2012, contributing to 2012 group revenues.

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Biovest files for Ch. 11 bankruptcy protection

Friday, March 8, 2013 03:04 PM

Tampa, Fla.-based Biovest International has filed a petition for protection under Chapter 11 of the U.S. Bankruptcy Code and a Plan of Reorganization seeking to implement a restructuring of its balance sheet that would eliminate approximately $44 million in senior secured debt held by Laurus/Valens Funds and Corp Real, while also providing up to approximately $5.6 million in new operating funding.

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CoCo Therapeutics created to develop new treatments for Alzheimer’s disease

Friday, March 8, 2013 12:08 PM

King’s College London, The Wellcome Trust and Advent Venture Partners have announced the formation of a new U.K. biotechnology company, CoCo Therapeutics, to progress the research of Professor Jonathan Corcoran into the development of new treatments for Alzheimer’s disease.

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