Biotech Industry News: Mergers, Trials, and Patent Filings

Strategic Insights

May 3, 2005 — 1 min read

Genzyme Corp., a prominent biotechnology firm, has announced its intention to acquire pharmaceutical company Bone Care International for $600 million. Additionally, Angiotech Pharmaceuticals has reported positive preliminary safety results from its trial of the Vascular Wrap paclitaxel-eluting mesh. U.S. BioDefense, a Department of Defense contractor, has filed a provisional patent application for its technology, which utilizes intellectual property search engine infrastructure.

Key Takeaways:

Genzyme Corp. is acquiring Bone Care International for $600 million at $33 per share, representing a $10 premium over its closing price.
Angiotech Pharmaceuticals has announced positive preliminary safety results from its Vascular Wrap paclitaxel-eluting mesh trial.
U.S. BioDefense has filed a provisional patent application (60/594081) with the United States Patent and Trademark Office.
U.S. BioDefense's technology is being developed through its existing intellectual property search engine infrastructure.
IVAX Corporation has priced $350 million of its 1.5% senior convertible notes due 2025.
Financial News USA, a leading financial news distributor, has expanded its network by targeting direct feeds to news and data providers.

Statistics:

Genzyme Corp. will pay $600 million to acquire Bone Care International.
The acquisition is valued at $33 per share, a $10 premium over Tuesday's closing price.
Angiotech Pharmaceuticals' Vascular Wrap trial has reported positive preliminary safety results.
U.S. BioDefense's patent application is pending (60/594081).
IVAX Corporation has priced $350 million of its 1.5% senior convertible notes due 2025.
Financial News USA has targeted direct feeds to 35 financial news and data providers.

Sources:

M2 PressWIRE citing Genzyme Corp.'s acquisition of Bone Care International.
U.S. BioDefense's filing of provisional patent application (60/594081).
Angiotech Pharmaceuticals' announcement of positive trial results for Vascular Wrap.
IVAX Corporation's pricing of senior convertible notes.
Financial News USA's expansion of its news distribution network.

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