Galápagos acquires rights to JAK inhibitor from GSK

Galápagos NV has paid an undisclosed sum to GlaxoSmithKline Plc to re-acquire rights to a candidate drug for rheumatoid arthritis which inhibits a family of enzymes known as Janus kinase (JAK). It will start a Phase 1 study on 9 August.

Country: Belgium

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Preclinical antibiotic captured at work

A new preclinical antibiotic that is being developed by GlaxoSmithKline Plc has been shown in an image fighting bacteria that are resistant to conventional antibiotics.

 

Country: United Kingdom

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Novo Nordisk sees sales growth of 9-10% in 2010

Novo Nordisk A/S has estimated that sales will grow by 9 to 10% in 2010 based on continued market penetration of its core diabetes products and its new glucagon-like peptide-1 receptor agonist for Type 2 diabetes, Victoza (liraglutide).

Country: Denmark

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GSK pays $23 million upfront for rights to fusion-protein technology

GlaxoSmithKline Plc has agreed to pay $23 million upfront for exclusive access to technology developed by Amplimmune Inc of the US for potential therapies for cancer and other diseases. Specifically, GSK will obtain rights to a molecule targeting the membrane protein, PD-1.

Country: United Kingdom

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Shire sets higher spending targets

Shire Plc expects to increase its spending on research and development this year, even as it prepares to commit €428 million to complete its latest acquisition- an all-cash offer for Movetis NV of Belgium.

Country: Ireland

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Wilex completes rights issue

Wilex AG has announced the successful completion of a rights issue which has raised €10 million in new money. The proceeds will be used to finance the ongoing clinical development of the company’s oncology portfolio.

Country: Germany

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UCB confirms 2010 financial outlook

With a debt restructuring completed and its core products booking substantial revenue gains in the first half, UCB SA has confirmed its forecast for 2010 revenue of €3 billion and a profit of €700 million.

Country: Belgium

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Shire to offer €19 per share for Movetis

Shire Plc has announced a tender offer for the recently-listed Belgian company, Movetis NV, which has a product for chronic constipation on markets in the European Union. Shire is offering €19 per share in cash for Movetis, representing a premium of 74% to Movetis’s closing price on NYSE Euronext Brussels on 2 August 2010.

Country: Ireland

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Sanofi reportedly offers $67 to $70 per share for Genzyme

Sanofi-Aventis SA has reportedly offered between $67 and $70 per share for Genzyme Corp in what amounts to a friendly acquisition proposal, according to a report in the 3 August 2010 edition of the Wall Street Journal.

Country: United States

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First clinical trial of embryonic stem cell therapy gets go-ahead

Geron Corporation said it has received clearance from the Food and Drug Administration to proceed with a human trial of an embryonic stem cell-based therapy in patients with acute spinal cord injury.

Country: United States

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