October 2013

Vertex cuts workforce 15%

Wednesday, October 30, 2013

Global biotech Vertex Pharmaceuticals will focus its investment on future opportunities in cystic fibrosis and other high-potential R&D programs and is reducing its workforce related to the support of INCIVEK, because of the continued and rapid decline in the number of people being treated with INCIVEK as other new medicines for hepatitis C near approval.

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AB-Biotics acquires patent for predicting antipsychotic-induced extrapyramidal symptoms

Tuesday, October 29, 2013

The Spanish biotech company AB-Biotics has acquired the rights to a patent which predicts the high or low risk of a patient treated with antipsychotic drugs developing extrapyramidal symptoms. Side effects induced by antipsychotic drugs affect patient movement and include muscle rigidity, parkinsonism, akinesia (inability to initiate movement) and akathisia (inability to remain motionless).

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Palatin Technologies reports successful completion of device bioequivalence trial

Tuesday, October 29, 2013

Palatin Technologies has announced the successful completion of a clinical trial designed to demonstrate equivalence of subcutaneously administered bremelanotide via autoinjector compared to pre-filled syringe administration. Bioequivalence was achieved in this clinical trial. Palatin used pre-filled syringes in its phase II clinical trials, but will use the single-dose disposable autoinjector in its planned phase III clinical trials and for commercialization.

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McKesson to acquire Celesio for $8.3 billion

Monday, October 28, 2013

McKesson, a North American healthcare services and information technology company, has signed an agreement to acquire a majority stake in Celesio, an international wholesale and retail company and provider of logistics and services to the pharmaceutical and healthcare sectors, for $32 per share and to launch parallel voluntary public tender offers for the remaining publicly-traded shares and outstanding convertible bonds of Celesio. The offer price represents a 39% premium over the three-month volume weighted average price prior to the market speculation that began Oct. 8. The total transaction, including the assumption of Celesio’s outstanding debt, is valued at approximately $8.3 billion.

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