Drugs
Genzyme Molecular Oncology, a division of Genzyme Corporation, has announced the grant of a European patent covering p53 gene therapy and methods to detect loss of p53 function. This patent triggers a $5 million milestone payment to Genzyme Molecular Oncology from Schering-Plough Corporation, a research-based company engaged in the discovery,
Drugs
Enzon, Inc. has announced that Schering-Plough Corporation has initiated Phase III clinical trials for a combination therapy of PEG-INTRON and Rebetol (ribavirin) for the treatment of hepatitis C. This collaboration marks a significant step in the development of PEG-INTRON, a modified form of INTRON A, which has been developed using
Drugs
A class action lawsuit was commenced against Dura Pharmaceuticals Inc. by Milberg Weiss on behalf of investors who purchased Dura common stock between April 15, 1997, and February 24, 1998, alleging that the company made false and misleading statements about its sales, earnings, and product development. The lawsuit claims that
Drugs
DJ Pharma, Inc. has announced the successful completion of a private financing round, securing $25 million in funding to fuel its product acquisition and marketing strategy. The San Diego-based specialty pharmaceutical company will use the investment to expand its sales force and acquire additional patented or branded pharmaceutical products. DJ
Drugs
Shield Diagnostics Group, a biotechnology company, is planning to take over Axis Biochemicals, a Norwegian rival, in an all-paper deal worth approximately £67m. The two companies, which have developed tests for assessing the risk of heart disease, have agreed in principle to merge, subject to due diligence. Under the proposed
Drugs
Astra Zeneca's stock performance may seem pedestrian at first glance, having outperformed the market by only 1%. However, a closer look at the company's financials reveals a more compelling picture. With a consolidated drugs business expected to generate $14 billion in sales and $3.5 billion
Drugs
Cadus Pharmaceutical Corporation has announced a significant research milestone in its collaboration with SmithKline Beecham Corporation, a major player in the pharmaceutical industry. The milestone, achieved in 1998, pertains to the identification of ligands for orphan G-protein coupled receptors extracted from the human genome. This breakthrough is a direct result
Drugs
Access Pharmaceuticals, Inc. has announced a license agreement with Block Drug Company for the rights to develop amlexanox for use in chemotherapy and radiation-induced mucositis. Mucositis is a debilitating condition affecting an estimated 400,000 cancer patients in the United States, involving extensive inflammation of mouth tissues. Amlexanox, currently approved
Drugs
Genelabs Technologies, Inc., a biopharmaceutical company, and DuPont Pharmaceuticals have renewed their research and license agreement for an additional year to discover and develop drugs that control the expression of certain disease-associated genes. The purpose of the agreement is to develop new therapeutic interventions for diseases such as cancer and
Drugs
The U.S. Food and Drug Administration (FDA) has approved the first-of-its-kind drug, Celebrex, which is expected to revolutionize the treatment of osteoarthritis pain without the gastrointestinal side effects of traditional painkillers. Developed by Searle, a pharmaceutical division of Monsanto Co., Celebrex is a Cox-2 inhibitor that works by blocking
Drugs
The Food and Drug Administration (FDA) has approved Monsanto's Celebrex, a revolutionary type of arthritis medication, as the first "cox-2" inhibitor to hit the market. However, in a blow to Monsanto, the FDA declared that there is no proof that Celebrex is safer for patients'
Drugs
The American Medical Association (AMA) has intensified its scrutiny of dietary supplements and herbal remedies, citing concerns over patient safety and efficacy. The organization's House of Delegates has instructed the AMA to work with Congress to modify the Dietary Supplement Health and Education Act, requiring FDA approval for
