Human Genome Sciences Inc has rejected as inadequate an unsolicited takeover bid from GlaxoSmithKline Plc that is priced at $13 per share in cash. The offer values the company at approximately $2.59 billion, according to the Associated Press.
Sanofi SA has entered into a collaboration with the Michael J. Fox Foundation to conduct a clinical trial to assess the safety and tolerability of a Sanofi phosphodiesterase type 4 inhibitor for patients with Parkinson’s disease.
The Roche Group has decided not to extend the deadline of 20 April 2012 on its offer for Illumina Inc of $51.00 per share.
Research published in the Lancet Oncology suggests that the use of high intensity focused ultrasound may be an alternative to surgery or radiotherapy to treat men with prostate cancer, with fewer side effects. The study involved 42 patients.
Merck & Co Inc is to pay Endocyte Inc $120 million upfront and up to $880 million in performance-based milestones for rights to a candidate compound for ovarian cancer, vintafolide. The compound is being tested with a companion diagnostic.
Oxford BioMedica Plc said that its gene therapy for Parkinson’s disease, ProSavin, met is primary endpoint in a Phase 1/2 study which evaluated the safety of the medicine in three ascending doses. Fifteen patients participated in the trial.
UCB SA said that a Phase 3 study of its antibody, Cimzia (certolizumab pegol), in the new indication of axial spondyloarthritis (AxSpA) reached its primary endpoint. Cimzia is a peglated, anti-tumour necrosis factor alpha (TNF-alpha) compound.
The Roche group said sales of its pharmaceutical products should accelerate in 2012 giving a rate of growth in the low to mid-single-digits. This follows a first quarter in which group and pharmaceutical sales rose by 2% in constant currencies.
Risk sharing deals in drug development often involve a Big Pharma company and a small, research-intensive biotech. Typically, the larger partner pays for rights to a promising asset on the expectation that its investment will pay off years later when the compound becomes a marketed pharmaceutical. Very often the larger company is cash rich, while the smaller one is cash poor but rich in intellectual property.
Shire Plc has reached an agreement to acquire substantially all of the assets of privately-held Pervasis Therapeutics Inc of Cambridge, Massachusetts which has a clinical-stage, cell-based therapy for enhancing blood vessel repair.