Pharmaceutical industry
Glaxo PLC has achieved its goal of forming the world's largest pharmaceutical company by acquiring Wellcome PLC in a hostile takeover worth $20.8 billion. The deal will create a new entity, Glaxo Wellcome PLC, but comes with a condition: Glaxo must slash costs by cutting thousands of
Pharmaceutical industry
Interleaf Inc. has been awarded a major contract by Marion Merrell Dow Inc. to build a drug submission assembly and delivery automation system. This system will utilize Interleaf's full suite of integrated document management products and consulting services. The project aims to accelerate the timetables for bringing important
Drugs
Glaxo, a major pharmaceutical company, has successfully concluded its tender offer for all outstanding common shares of Affymax, a biotechnology company specializing in drug discovery and combinatorial chemistry technologies. The offer, initiated on February 1, 1995, resulted in approximately 98.8% of Affymax's shares being tendered, representing a
Drugs
Texas Biotechnology Corporation, a biopharmaceutical company, has announced its financial results for the fourth quarter and year ended December 31, 1994. The company's revenues for the fourth quarter of 1994 totaled $4,100,812, compared to $51,816 for the same quarter in 1993. The increase in revenues
Drugs
North American Biologicals, Inc. (NABI) has been awarded a $165 million five-year plasma supply contract by the Pharmaceutical Division of Miles Inc. This contract replaces a pre-existing $35 million agreement, which had a remaining value of approximately $15 million. Under the terms of the new contract, NABI will supply Miles
Drugs
Viagene, Inc., a biotechnology company based in San Diego, reported a net loss of $4.1 million for the fourth quarter ended December 31, 1994, surpassing the net loss of $1.7 million in the same quarter the previous year. The company's net loss for the year ended
Drugs
Somatix Therapy Corp., a leader in gene therapy, has completed the acquisition of Merlin Pharmaceutical Corp.'s in vivo gene therapy programs and related intellectual property. The acquisition includes Merlin's adenoviral and adeno-associated viral vector technologies, which complement Somatix's proprietary retroviral vector technology. This strategic
Drugs
Amgen, a global biotechnology company, has achieved a major victory in a patent dispute with Genetics Institute (GI). On February 14, 1995, a U.S. District Court in Massachusetts granted Amgen's motion for summary judgment, enforcing the Federal Circuit's prior judgment and barring GI from asserting
Drugs
The development of a new animal model by Athena Neurosciences, Inc. and Eli Lilly and Company has marked a significant breakthrough in Alzheimer's disease research. This transgenic mouse model, now available for testing potential therapeutic agents, has been hailed as a major step forward in the fight against
Drugs
Ligand Pharmaceuticals Inc. and Glycomed Incorporated, two leaders in the biotechnology sector, have announced a definitive merger agreement in a stock-for-stock transaction. The combined company would have a significant financial strength of approximately $100 million in cash and investments, as well as proprietary technologies focused on discovering and developing small
Drugs
Titan Pharmaceuticals, a biopharmaceutical holding company, has announced that its operating companies, Ansan Inc. and Ingenex Inc., have received approval from the Food and Drug Administration (FDA) to initiate new clinical trials for cancer treatments. Ansan's Investigational New Drug (IND) application for AN-9, a novel anticancer agent, has
Drugs
Immunomedics Inc., a biopharmaceutical company, announced its financial results for the quarter and six-month period ended December 31, 1994. During this period, the company reported a net loss of $2.7 million, or $0.09 per share, with revenues of $0.8 million for the quarter. Compared to the same
