The science of epigenetics received a boost on 29 July with the announcement by Celgene Corporation of plans to invest in HDAC inhibitors under development by Acetylon Pharmaceuticals Inc of the US, with an option to buy the company.
The Board of Directors of Elan Corporation Plc has accepted a takeover bid by Perrigo Company, a large US wholesaler of healthcare products and generic prescription drugs, for $8.6 billion in cash and shares.
Roche expects earnings growth this year to outpace that for sales on the strength of its oncology franchise and continued attention to costs. Oncology product sales in the first half were led by Avastin for the treatment of ovarian and colorectal cancers.
PolyTherics Ltd has strengthened its technology platform with the acquisition of Antitope Ltd, a provider of antibody engineering and immunogenicity screening services. It is issuing £13.5 million in new shares to finance the deal.
Eight new medicines, including a new treatment for lung cancer from Boehringer Ingelheim GmbH and a new therapy for chronic obstructive pulmonary disease from Novartis, have received positive opinions from the EMA’s main scientific committee.
The first results of a reorganisation and change in management at Shire Plc were in evidence on 25 July when the company reported a 7% rise in product sales to $1.23 billion for the second quarter and forecast double-digit earnings growth for 2013.
Cellular Dynamics International Inc, which is a producer of induced pluripotent stem cells (iPSCs), has priced its previously-announced initial public offering of shares at $12 per share. The shares will begin trading today on Nasdaq.
Noxxon Pharma AG has finished recruitment for its Phase 2a study in patients with Type 2 diabetes mellitus at risk of diabetic nephropathy. The oligonucleotide therapy is intended to neutralise the pro-inflammatory chemokine CCL2.
GlaxoSmithKline Plc’s chief executive Andrew Witty said that it is “too early” to quantify the impact on its financial results of an ongoing investigation by the Chinese authorities into allegations of misconduct by certain individuals in the company – an investigation that has widened in recent days to include other large pharmaceutical companies.
The ReNeuron Group Plc has secured new funding commitments of £33 million, enabling it to advance its three allogeneic stem cell programmes through Phase 2 development. The funding includes a large grant from the Welsh government.